Navigation Links
Novation Applauds New FDA Guidance Documents on Biosimilars
Date:2/15/2012

IRVING, Texas, Feb. 15, 2012 /PRNewswire/ -- The publication of three guidance documents by the Food and Drug Administration represents a significant milestone in the biosimilar development process and provides the infrastructure by which pharmaceutical manufacturers can seek approval for lower cost, clinically comparable alternatives to some of the most commonly utilized biologic agents purchased by health care organizations.     

Novation, the health care industry's leading supply contracting company for the members and affiliates of VHA Inc, UHC and Provista, has been actively monitoring the development process for biosimilars, improving its understanding of how biosimilars have progressed in Europe and identifying the keys issues members will have to address when considering how to use biosimilars.    

In recent years, an increasing amount of hospital pharmaceutical expense is being devoted to the acquisition of high cost, large molecule biologics, which historically have not been subject to "generic" competition because they are complex to manufacture and are derived from living organisms.  Biosimilars, or drugs that clinical studies deem "highly similar" to these large molecule biologics, will provide effective, safe, and cost-efficient alternatives to expensive, current biologic drugs.  

Based upon the experience in the European biosimilars market, these "highly similar" versions of reference biologics could result in price decreases of 20% to 30%.  "However, adoption of biosimilars will be a more complex process and will require greater physician involvement in contrast to what traditionally happens with small molecule generics," said Steven Lucio, director of pharmacy clinical solutions for Novation.  "Health care organizations will have to devote more resources to the evaluation of these products. Therefore, it is critically important for Novation to provide the tools and resources needed to conduct this evaluation and educate prescribers and other clinicians." 

Novation offers multiple clinical resources to the members it serves including the Drug Monograph Service and the biannual Drug Price Forecast.  Both of these tools will be expanded to reference the availability of biosimilars. Novation recently initiated the process of educating its member organizations on biosimilars with the publication of its white paper titled, "Preparing for Biosimilars." To view this white paper, please view: https://www.novationco.com/pressroom/industry_info/Biosimilars_White_Paper_201111.pdf.   

 

About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply contracting company for the more than 65,000 members of VHA Inc. and UHC, two national health care alliances, and Provista, LLC. Novation provides alliance members with sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 600 suppliers. VHA, UHC, and Provista members used Novation contracts to purchase more than $40 billion in 2011. Novation recently earned the coveted Ethics Inside® Certification from Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance, and is the only health care group purchasing organization to earn this distinction.

 


'/>"/>
SOURCE Novation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Young Innovations, Inc. Announces Record EPS for the Quarter and Record Sales and EPS for the Year
2. Innovation Day 2012: a Time To Inform and Inspire
3. BioParadox Announces Partnership with Fogarty Institute for Innovation
4. Celebrity Chef Danny Boome Announces Launch of Arthriving.com, A New Online Resource Featuring Smart Solutions And Product Innovations For People With Arthritis
5. DLP® LightCrafter™ From Texas Instruments: Enabling Big Innovations In Light Steering From A Compact, Ready-To-Use Module
6. Utilizing Marketing Innovations to Engage with Customer Groups that are Key to the Pharmaceutical Industry
7. Innovations in Wound Care Devices and Dressings
8. Survey of Biomedical Industry CEOs Finds Lack of Investment and Regulatory Environment Threaten Future Growth and Innovation
9. First Ever InnoPack Event Has Strong Turn Out and a Focus on Innovation
10. Austen BioInnovation Institute and Lubrizol Announce New Strategic Innovation Partnership
11. Mindray Signs Agreement With Novation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/16/2017)... Conn. , Feb. 16, 2017 The Lockwood ... the 2017 Best Place to Work in Connecticut ... This is the third year in a row that Lockwood ... this year to earn the number-two spot in 2017. The ... maintaining workplace excellence. The winners were determined through a survey ...
(Date:2/16/2017)... Feb. 16, 2017  AcelRx Pharmaceuticals, Inc. (Nasdaq: ... focused on the development and commercialization of innovative ... announced that Vincent J. Angotti has ... of the company,s board of directors, effective Monday, ... decades of experience leading executive and commercial teams ...
(Date:2/16/2017)... SCOTTSDALE, Ariz. , Feb. 16, 2017 HealthInfoNet ... announced today it is partnering with Orion Health on the ... of all Maine residents, clinical information ... hospitals and over 500 ambulatory care sites. Pending ... deploy Orion Health,s Amadeus , a precision medicine platform ...
Breaking Medicine Technology:
(Date:2/17/2017)... (PRWEB) , ... February 17, 2017 , ... ... (ISTS) brings its educational assistance management solution to the exhibit floor for the ... in Orlando, Fla. , From Feb. 19–23, 2017, more than 40,000 healthcare ...
(Date:2/17/2017)... ... February 17, 2017 , ... Qualis Health, one of ... the 8th Annual DecisionHealth Platinum Awards in recognition of its innovative healthcare management ... recognized across multiple award categories, highlighting four of the organization’s current programs:, ...
(Date:2/17/2017)... (PRWEB) , ... February 17, 2017 , ... ... clinical operations executives and focusing on all facets of clinical trial planning and ... management , patient engagement, and more. In addition, attendees stopping by Pharmica’s booth ...
(Date:2/17/2017)... , ... February 17, 2017 , ... Top neuroendocrine cancer ... Healing NET Foundation Summit from February 21 - 23 in Beaver Creek, CO. It ... This marks the Summit’s second year in Beaver Creek, hosting over 60 faculty members ...
(Date:2/16/2017)... ... 17, 2017 , ... For some cancer survivors, the memories ... Physician researchers at The Marcus Institute of Integrative Health at Thomas Jefferson ... reducing symptoms of traumatic stress in cancer patients and published their results ...
Breaking Medicine News(10 mins):