Visante 
The Evolution of Specialty Pharmacy
If we were to create a post on Tik-Tok or Instagram for health system specialty pharmacies (stay with us boomers!), here are a few must-have hashtags we’d include. #healthsystemspecialtypharmacy, #patientcare, and #exceptionalhealthcare are a few of the big buzz words in the market. With 2023 looming, #biosimilars is another hashtag that is top-of-mind for many specialty pharmacies as the industry prepares for the staggered and much-anticipated launch of adalimumab biosimilars.
The “Purple Book,” FDA’s searchable and online database containing information about all FDA-licensed biological products regulated by the Center for Biologics Evaluation,1 lists current approved biosimilars, many which fall in the provider-administered category. The majority of the brand alternatives on the list are those billed under the patient’s medical benefit, and at times dispensed to the patient outside of the pharmacy workflow. 2023 will bring a new wave of biosimilars making their debut in the patient self-administered or take-home category.
Most notable in this category is the loss of exclusivity for adalimumab, Humira’s biosimilar. Humira has been the top-selling drug worldwide, raking in more than $20 billion in revenue last year.2 With seven FDA approved adalimumab biosimilars set to make their debut in 2023, many health system specialty pharmacies are trying to understand what impact this change will have on their program. We expect essential aspects of the impact will include economical, clinical and operational considerations as adoption of these therapies becomes mainstream.
We also anticipate an increase in patient access as many payors adopt biosimilars to their formularies for cost savings factors. Like retail counterparts, specialty pharmacies need to be prepared operationally to stock, store and distribute several products versus one kind of innovator specialty product. Some things to consider are storage space for different manufacturers and distribution adjustments for possible increases in volume to accommodate the different payor plans serviced at your site.
Ways that health systems can support patients
How can we support patients during this impactful change in their therapy? Education and continuing to be an integral part of the care team will be key. While many providers may have a general knowledge of biosimilars, they may lack knowledge on current biosimilar developments within their specialty. Providers play a crucial role in shaping the patient’s perception of therapy and are a key source of information for patients. By helping providers bridge this knowledge gap and serving as the drug information resource, the specialty pharmacy can support providers as they incorporate biosimilars in their clinical practice.
While it may be hard to predict the financial impact these drugs will have, an important thing to consider is the dynamic nature of this environment. Innovator products will take unique steps to maintain their hold on the marketplace, so don’t return them just yet! Payors may be hesitant to make changes to their formulary until biosimilars become more mainstream in the industry.
How will this impact your health system specialty pharmacy? Here are a few key points to consider:
- Education is key! Improved awareness of biosimilars and their impact is critical to help facilitate discussions between the care team, patients, and their families. Take a proactive approach in educating your pharmacy team, collaborate with your provider champions and lead the change.
- Get ready! Get an idea of current volumes from a dispensing aspect. Are there many operational changes that are necessary if you had to stock 2-3 different manufacturers for the anticipated increase in volume? Begin to have these conversations with the appropriate leaders.
- Stay connected. Use the appropriate resources to stay up to date with the day-to-day changes in the biosimilar space. Utilize these resources to keep a pulse on the how/when the biosimilar rollout will occur.
- More questions? We can help you understand the impact, opportunities, and help put together a strategy! Contact us at solutions@visanteinc.com to talk to one of our team members today.
