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

The Biosimilars Forum is the voice of the biosimilars industry, representing the majority of companies with the most significant U.S. biosimilars development portfolios. Learn more: https://lnkd.in/g_9eUB4h

Less than 10 years ago, the first biosimilar was approved by the @FDA. Now, there are nearly 50 approved therapies with dozens more in development. https://lnkd.in/eWtsd67D

“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 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

#NEW: The?FDA?and?US Pharmacopeia have released an updated #infographic on the way #biosimilars improve healthcare outcomes and patient access to lower-cost, quality medicines. Biosimilars undergo rigorous, multi-phase steps to ensure safety and efficacy. Learn more from the below document. https://lnkd.in/epYCB6ZQ

PBMs are blocking the uptake of biosimilars and it is past time for policymakers to make these lower-cost therapies accessible now. Read more: https://lnkd.in/eVGSPEc7

#Biosimilars are key to lowering drug costs and saving billions in taxpayer dollars every year. Read our solutions to help patients access lower-cost medicines here: https://lnkd.in/gU8_9RgB

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