MEASURES aimed at fuelling competition in the biosimilar medicines market could be critical to ensuring sustainability, Australian Biologics Academy Chair, George Tambassis, believes.
Launching the Biosimilars: A global roadmap for policy sustainability report in Canberra yesterday, the former Pharmacy Guild of Australia National President said urgent policy reform was needed to deliver a long-term sustainable biosimilar environment.
"A sustainable biologics market is one where all stakeholders, including patients, have reliable and consistent access to biological therapies," he said.
"However, this is highly dependent on the nature of the policy framework to support the uptake of biosimilars.
"Ultimately, Australia should aim for competition within the biosimilar market and incentives for patients, to ensure a sustainably functioning environment that allows the best value for innovation without compromising quality."
The report called on the Federal Government to ensure the alignment of financial incentives that benefit prescribers, pharmacists and patients.
It also recommended that policy changes should be implemented to increase multi-disciplinary decision-making regarding dispensing of biosimilars to ensure the best outcomes for patients and the best value for the health system.
Generic Biosimilar Medicines Association CEO, Marnie Peterson, said the organisation was looking forward to working with the Government to co-design policies to boost biosimilar use.
"We know biosimilars can, and will, unlock significant savings for our overwhelmed health budget," she said.
"And we can go further with policies that provide even greater relief at the hip pocket of Australians already struggling with the rising cost of living."
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