Biosimilars Forum

Last week, the Biosimilars Forum and its member companies met with lawmakers on Capitol Hill to thank them for their leadership on biosimilars and discuss the importance of increasing access to these lower-cost medicines. Biosimilars are a bipartisan solution to lower drug costs for millions of Americans, and the work being done by policymakers to increase uptake is imperative to unlocking their cost-savings potential. We look forward to our continued work with both sides of the aisle and the Administration to realize the promise of biosimilars. #biosimilars Juliana "Julie" Reed, Len Arsenault, Jon Martin, Brian McCormick, Tom Shea, Dominick Oliverio, Julian Malasi, Joshua Salsi, Seemin Pasha, Nicholas Schemmel, Nimish Shah

#NEW in?Axios: Much more is needed to make lower-cost biosimilars accessible to the patients that need them. From the article: "Patients and their families lose if they don't have access to lower-cost biosimilars," Juliana Reed, executive director of the Biosimilars Forum, wrote in a recent STAT op-ed. "PBMs have assured this loss across the board through a clear lack of access to biosimilars and denial of fair competition." https://lnkd.in/gS5DQrr7

Less than 10 years ago, the first biosimilar was approved by the FDA. Now, there are over 50 approved therapies with dozens more in development. https://lnkd.in/ebkZVVYq

“If they fail to act, the US healthcare system could lose up to $133 billion in savings and leave patients without access to the medicines they need.” Hear from Juliana "Julie" Reed about why she urges policymakers to make biosimilars accessible now: https://lnkd.in/esyDxiwh

Follow our work as we take on PBMs and unlock the cost-savings potential of biosimilars here: https://lnkd.in/g_9eUB4h

US biosimilar development is lagging behind Europe due to PBM practices. Read about the potential of these cost-and-life-saving treatments here: https://lnkd.in/d247iMFe

If uptake increases and PBMs provide patients and providers access to biosimilars, drug costs could be reduced by $133 billion. Read about biosimilars’ benefit to patients and their wallets here: https://lnkd.in/eC2Y89FA

Congratulations to Biosimilars Forum member company Sandoz on earning FDA-approval for their biosimilar Enzeevu?, which treats neovascular age-related macular degeneration.?

Employers are spending more on health insurance than they ever have before. This is because PBMs continue to favor the higher-cost, brand name biologics by placing them on a preferable formulary tier. This prevents patients from accessing biosimilars, which are safe and effective treatment options that can lower the cost of prescription drugs. If uptake on biosimilars were increased, Americans could see $133 billion in savings. Policymakers must address the anti-competitive schemes from PBMs preventing patients from accessing lower-cost prescription drugs. https://lnkd.in/eC2Y89FA

Biosimilars cost on average 30% less than reference biologics, which account for 40% of all drug spending. If the anti-competitive practices of PBMs were reformed, over $130 billion in savings could be unlocked. https://lnkd.in/eC2Y89FA