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October 19, 2018 | Blog

How Biosimilars Are Changing the Selling Environment

Since the beginning of 2018, the US Food and Drug Administration (FDA) has approved three new biosimilars, and more approvals are expected in the coming months. So far, a dozen biosimilars have been approved in the US, and recent legislative changes may speed biosimilar adoption among Medicare Part D plans starting in 2019. Given these latest developments, your customers are especially eager to have meaningful conversations about these products as they consider their treatment options.

Two industry-watchers with an in-depth understanding of biosimilars and the specialty market are Bruce Pyenson, FSA, MAAA, and Gabriela Dieguez, FSA, MAAA, both principals and consulting actuaries with Milliman, the leading provider of actuarial consulting services to the healthcare industry. CMR Institute has partnered with these subject matter experts to review and update its two biosimilars training courses covering:

  • The Entry of Biosimilars into the US Market
  • Protecting Market Access as Biosimilars Emerge

In light of these recent changes, CMR Institute’s biosimilars courses have been reviewed and updated by the industry experts at Milliman to help your sales team:

  • Understand what biosimilars are and how they are made.
  • Explain the concept of interchangeability.
  • Identify the key federal and state regulations affecting biosimilars in the US.
  • Explain how biosimilars could affect the US market.
  • Discuss pricing, coverage, and payment of biosimilars in the US.
  • Describe strategies that companies can use with payers and providers to protect market access when selling for or against biosimilars.
  • Understand what sales teams can do as biosimilars become more prevalent.

Pyenson and Dieguez have also served as expert guests on CMR Institute’s webinars and podcasts on risk contacting within the life sciences industry.

Your team needs to be prepared to sell strategically as more biosimilars enter the market and legislation around these products changes. Click here to learn how these expert-reviewed courses can get your sales team ready for an even more competitive market ahead. Or contact us at solutions@cmrinstitute.org to learn more about our other recently updated courses on pharmacoeconomics, the human body, and the specialty market.

Bruce Pyenson, FSA, MAAA

Pyenson has co-authored more than 30 peer-reviewed publications and served as editor and co-author of two books on managing risk in managed care. In 2016, he was appointed a commissioner of the Medicare Payment Advisory Commission (MedPAC). He is also an adjunct clinical associate professor with New York University’s College of Global Public Health.

Gabriela Dieguez, FSA, MAAA

Dieguez has provided actuarial and consulting services to a broad range of clients, including commercial insurers, managed care plans, pharmaceutical companies, and healthcare providers. She has extensive experience forecasting medical trends and consulting with clients in a range of areas. Recently, she co-authored an article on how the Bipartisan Budget Act of 2018 eliminated a barrier to biosimilar adoption by Part D plan sponsors—a change that could have significant effects on the industry.

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