News Release
December 20, 2022
ORGANON CANADA WELCOMES THE ONTARIO DRUG BENEFIT
BIOSIMILARS INITIATIVE
Download Press Release- Ontario becomes the 8th jurisdiction in Canada to adopt a biosimilar transition policy.
- Savings resulting from the adoption of the Ontario Drug Benefit Biosimilars Initiative will be reinvested in new drug therapies and contribute to bringing innovation to the healthcare system.
Kirkland, Quebec, December 20, 2022 – Earlier today, the Government of Ontario announced its plan to roll out its Biosimilars Initiative to become effective in March 2023. Organon Canada welcomes this important decision that will expand patient access to biosimilars and is expected to generate significant cost savings for the Ontario healthcare system.
“Organon Canada welcomes the Government of Ontario’s decision to adopt a biosimilars transition policy,” says Michael Casia, President and Managing Director, Organon Canada. “As a company dedicated to contributing to improving the sustainability of the Canadian healthcare system, we are proud to have supported patient transitions to biosimilars in seven jurisdictions so far, representing over 20,000 patients enrolled in our patient support program.”
Ontario joins British Columbia, Quebec, Alberta, New Brunswick, Nova Scotia, the Northwest Territories and Saskatchewan in implementing a biosimilars transition policy.
Along with the other provinces and jurisdictions, Ontario’s adoption confirms biosimilars are an important part of a sustainable healthcare system. This will expand the adoption of available biosimilars at a lower cost, while helping to broaden access for patients to these medicines and encourage further innovation.
With the Ontario Biosimilars Initiative, from March 31, 2023 to December 29, 2023, patients using certain reference biologic drugs will transition to a biosimilar version of the medicine, providing patients and their healthcare providers with advanced notice of the implementation. The full implementation and transition will take nine months.
Biosimilars are versions of drugs that are made when an original biologic drug no longer has patent protection. A biosimilar works the same way as the original drug but is less expensive.
Biosimilars are made to the same standards as original biologic drugs and have met Health Canada’s regulatory requirements for efficacy and safety.
With its expertise and leadership in biosimilars, Organon Canada is committed to working with patients and their healthcare providers to facilitate this transition.
“Central to Organon’s mission is to focus on addressing women’s everyday health needs. A number of indications included in the Ontario Biosimilars Initiative are conditions that affect women disproportionally,” added Michael Casia.
About Organon
Organon is a global healthcare company formed to focus on improving the health of women throughout their lives. Organon has a portfolio of more than 60 medicines and products across a range of therapeutic areas. Led by the women’s health portfolio coupled with an expanding biosimilars business and stable franchise of established medicines, Organon’s products produce strong cash flows that will support investments in innovation and future growth opportunities in women’s health. In addition, Organon is pursuing opportunities to collaborate with biopharmaceutical innovators looking to commercialize their products by leveraging its scale and presence in fast growing international markets.
Organon has a global footprint with significant scale and geographic reach, world-class commercial capabilities, and approximately 10,000 employees with headquarters located in Jersey City, New Jersey.
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Forward-Looking Statement of Organon & Co., Jersey City, N.J., USA
Except for historical information herein, this news release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about management’s expectations about Organon’s future financial performance and prospects. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
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