BIOSIMILARS ARE THE SOLUTION TO OUT-OF-CONTROL PRESCRIPTION DRUG PRICES
Americans are facing a healthcare crisis. Patients should never have to choose between their health and financial security. Unfortunately, this occurs across America. Nearly 30% of Americans say they haven’t taken their medication as prescribed due to unaffordable prices.
THE PROMISE OF LOWER-COST BIOSIMILARS COULD BE LOST FOREVER
Over the next decade, 118 biologics are expected to lose patent protection, and biosimilars could offer significant cost-savings for each of these. This includes a significant wave of oncology drugs, which could lower costs for cancer patients.
THE FDA MUST MODERNIZE ITS OPERATIONS TO MORE EFFICIENTLY DELIVER LOWER-COST MEDICINES TO AMERICANS THAT NEED THEM
Biosimilar development should evolve to reflect current science and available evidence. Efficiencies in developing and approving biosimilars will enable patients to access more and a wider variety of biological drugs – without impacting safety or effectiveness.
PBMS MUST BE REIGNED IN
This PBM Monopoly has been corroborated by policymakers on both sides of the aisle. The GOP-led House Oversight Committee, bipartisan leadership of the Senate Finance Committee and federal regulators at the Federal Trade Commission (FTC) have each separately found that PBMs intentionally misalign incentives to inflate drug prices and deny access to lower-cost drugs to those who want it.
OUT-OF-CONTROL PRESCRIPTION DRUG COSTS BURDEN AMERICANS
The U.S. spent $568 billion on pharmaceuticals in 2021—and $260 billion went toward biologics. With lower-cost biosimilars available, this is an affordability crisis for Americans that can easily be addressed.
BIOSIMILARS OFFER SIGNIFICANT COST-SAVINGS FOR AMERICANS AND OUR GOVERNMENT
In 2023, the U.S. healthcare system saved $12.4 billion from biosimilars alone. This contributed to a cumulative total of $56 billion in savings from biosimilars—compared to what spending would have been without biosimilars—since 2015.