The approval by the European Medicines Agency in 2013 of Remsima and Inflectra, biosimilar versions of the blockbuster drug Remicade, sent shockwaves through manufacturers of branded biologic drugs who now face the reality that their future profitability will be defined by how they compete in the face of an evolving biosimilar threat. While the regulatory landscape that will govern biosimilar approval and biosimilar use is not yet fully defined across many key markets, biologic manufacturers must adapt in order to shore up market and patient share and protect themselves from the approaching biosimilar tidal wave.
In this Executive Insights, L.E.K. Consulting argues that the future success of blockbuster branded biologics hinges on the response of three key stakeholder groups who will play a role in biosimilar adoption—prescribers, patients and payers. Examining these stakeholders in detail, the authors explore a subset of strategies for engagement which underpin an enhanced ability to compete and win in this new and challenging market landscape.