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Brown & Brown — Conference Presentation (March 2023)
15 slides from Brown & Brown's conference presentation, Mar 9, 2023
Slide 1: Humira & Biosimilars Forecast for 2023 and Beyond
Humira® & Biosimilars Forecast for 2023 and Beyond March 9, 2023 Presented By: Andrea Grande, R.Ph., Tara Keeven and Mark Abate
Slide 2: Introductions
Introductions Andrea Grande, R.Ph. Tara Keeven Mark Abate Principal Vice President Vice President, Retail Segment Brown & Brown PillarRx (part of the Brown & Brown team) Brown & Brown • Biosimilars for the blockbuster drug Humira® hit the market in 2023 • We will unpack the complexities surrounding
Slide 3: Pharmacy Trends Challenging Employers
Pharmacy Trends Challenging Employers U . S . N E T T O TA L R X S P E N D • Pharmacy costs continue to rise and remain a significant component of overall healthcare spend • Total drug spend projected by 2025 » Growth is mostly expected from new brand launches in specialty and niche treatments » Onc
Slide 4: Specialty Drugs Driving the Narrative
Specialty Drugs Driving the Narrative S P E C I A LT Y D R U G T R E N D S 8% 22% YOY by 2024 $39B Biosimilars Projected Specialty Growth Continues Gene Therapies Sales Up Healthcare Savings Over due to new drugs, expanding 25 new anticipated approvals Next Five Years from generic- populations and p
Slide 5: Biosimilars – What Are They?
Biosimilars – What Are They? • Biosimilars are generally large, complex molecules derived from living organisms such Degree of Molecular Complexity as yeast, bacteria or plant/animal cells » Biosimilars are specialty drugs, also known as a biologic • Biosimilars have no clinically meaningful differe
Slide 6: Biosimilars – Why Do They Matter?
Biosimilars – Why Do They Matter? • As with other new drug options entering the market, competition is initiated Biosimilar Landscape Before 2023 • Biosimilars bring competition; however, their unique differences have presented a challenge to date » The intricacies within this space has been challen
Slide 7: Biosimilars – Humira Launches in 2023
Biosimilars – Humira® Launches in 2023 • Humira® has been a top-selling drug for many years topping $20B in annual sales most recently, and now faces multiple biosimilar candidates to market • This is a time of unprecedented competition for one product, making way for a new era of biosimilars • The
Slide 8: Biosimilars – Humira Launches in 2023
Biosimilars – Humira® Launches in 2023 HUMIRA BIOSIMILAR LAUNCH OUTLOOK 85% of Humira’s utilization today resides within the high dose (100mg), Citrate-Free product Anticipated Biosimilar Name Manufacturer Concentration Citrate-Free Interchangeable Launch Amjevita Amgen Low Yes No Jan - 2023 Cyltezo
Slide 9: Humira/Biosimilars – Impact Drivers
Humira®/Biosimilars – Impact Drivers P H Y S I C I A N I M PA C T • Physician acceptance has improved over the • Formulary placement may require a physician to make a past several years, but hesitancy still exists switch depending on options available • Differing characteristics within the biosimila
Slide 10: Humira/Biosimilars – Impact Drivers
Humira®/Biosimilars – Impact Drivers PBM Impact • PBM positioning will be key for all manufacturers, including Abbvie’s Humira • Pharma will ‘pay’ for preferred formulary status as they push their products to gain utilization and market share • So far in 2023, Humira remains in its preferred formula
Slide 11: Specialty Cost Management Program Impact
Specialty Cost Management Program Impact M A N U FA C T U R E R A S S I S TA N C E Programs available to help maximize the financial assistance offered by drug manufacturers. Prescription drug manufacturers provide coupons/copay assistance/free drug programs to patients who take their expensive drug
Slide 12: Specialty Cost Management Program Impact
Specialty Cost Management Program Impact Manufacturer Copay Assistance Program • No rebate impact • No formulary change • No pharmacy mandated • Savings up to 25% of specialty spend Patient Assistance Program (Free Drug Program) • Drugs ineligible for rebate • Exclude drugs from formulary without re
Slide 13: Specialty Cost Management Program Impact
Specialty Cost Management Program Impact M A N U FA C T U R E R P U S H B A C K , N O T W I T H D R AWA L Result of Anticipated Competition Decreased Savings by 25% Annually The release of lower cost biosimilars impact currently available assistance programs Restricting eligibility requirements 21%
Slide 14: Next Steps for Employers
Next Steps for Employers Important conversations to help navigate the ‘new’ biosimilar landscape. Formulary Contract Clinical Specialty Modifications Considerations Adaptations Program Shifts • Formulary Tier • Contract revisions to • Understanding • Potential decrease in changes capture changes in
Slide 15: THANK YOU!
THANK YOU! Please reach out to your Brown & Brown contact with additional questions. Don’t work with Brown & Brown? You can email Andrea Grande at Andrea.Grande@bbrown.com to learn more. Any solicitation or invitation to discuss insurance sales or servicing is being provided at the request of Brown