CARROLLTON, Texas–(BUSINESS WIRE)–As the demand for biosimilar product information continues to grow among payers, Xcenda’s FormularyDecisions—a secure online platform that facilitates information exchange between manufacturers and healthcare decision-makers—announced today the launch of a Biosimilars Hub. The new feature will provide registered users with centralized access to pertinent product and drug pipeline information, regulatory guidance and state-specific substitution laws.
“The biosimilar category holds incredible promise, and the market for these products is on an upward trajectory. But in order to reach the full potential of these medicines, it’s critical to provide payers with access to in-depth product information that can help them assess value and make reimbursement decisions”
“With more innovative pharmaceutical products entering the market, and opportunities for expedited reviews, healthcare decision-makers need access to credible product value information earlier in the development process,” said Allen Lising, Managing Director of FormularyDecisions. “With our Biosimilars Hub, we are providing payers with information at all stages of the product lifecycle in an easily accessible format, ultimately helping to enhance the formulary decision-making process.”
FormularyDecisions—which was acquired by Xcenda, a part of AmerisourceBergen, in 2019—provides its community of 2,500 healthcare decision makers with access to clinical evidence and health economic information on thousands of pharmaceutical products. The Biosimilars Hub, which is now accessible via FormularyDecisions, provides registered users access to:
- An interactive chart of the United States biosimilar market landscape: Provides a comprehensive overview of approved products and the drug pipeline, and streamlines access to specific product resources, including manufacturers’ eDossiers.
- Dynamic repository of state substitution laws for biosimilar products: Outlines the substitution laws in the 45 states that have passed laws that permit or require pharmacists to dispense an interchange biological product in certain situations.
- Curated biosimilar resources: Features the latest guidance from the U.S. Food and Drug Administration, as well as ICER reports and relevant articles and white papers.
The launch of the new feature coincides with a growing interest among payers in the biosimilar market. Total biosimilar activity on the FormularyDecisions platform increased by nearly 30 percent over the last two years, while requests for eDossiers rose by more than 50 percent from 2019 to 2020. The increased activity among payers mirrors the growth of the biosimilars market in the last two years. More than half of the biosimilars on the market in the United States have launched in the last 18 months.
“The biosimilar category holds incredible promise, and the market for these products is on an upward trajectory. But in order to reach the full potential of these medicines, it’s critical to provide payers with access to in-depth product information that can help them assess value and make reimbursement decisions,” said Sean McGowan, senior director of Biosimilars at AmerisourceBergen. “At AmerisourceBergen, we are working with all stakeholders—from biosimilar manufacturers to payers and providers—to facilitate more robust communication and education to help reduce barriers that restrict product success and patient access.”
For more information, please visit the FormularyDecisions page on Xcenda.com. Anyone with questions about the platform or the Biosimilars Hub can contact email@example.com. To learn more about how AmerisourceBergen supports biosimilar manufacturers, please visit the biosimilars page on AmerisourceBergen.com.
AmerisourceBergen fosters a positive impact on the health of people and communities around the world by advancing the development and delivery of pharmaceuticals and healthcare products. As a leading global healthcare company, with a foundation in pharmaceutical distribution and solutions for manufacturers, pharmacies and providers, we create unparalleled access, efficiency and reliability for human and animal health. Our 22,000 global team members power our purpose: We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #10 on the Fortune 500 with more than $185 billion in annual revenue. Learn more at www.amerisourcebergen.com.
Mike Iorfino, AmerisourceBergen