The Biosimilars Forum Urges Senate Finance Committee to Seek Meaningful Biosimilars Reform

WASHINGTON, D.C. (February 26, 2019) – Today, the Senate Finance Committee is holding a hearing, titled “Drug Pricing in America: A Prescription for Change, Part II,” that will explore the causes of and solutions to the rising prices of prescription drugs in America. In advance of the hearing, where CEOs from seven pharmaceutical companies will testify, the Biosimilars Forum issued the following statement:

We are engaged in the nationwide conversation on how to make prescription drugs more affordable and accessible to patients. Integral to this effort moving forward is to make sure Americans who need biosimilar medicines have access to these critical treatments, which won’t happen in full until Congress and other stakeholders address anti-competitive behaviors and other market dynamics that discourage uptake of biosimilars. We look forward to working collaboratively with Congress to shore up a vibrant biosimilars market in the U.S., which could save the healthcare industry $54B over the next decade.

Today’s hearing is the second in a two-part series of hearings on this issue from the Senate Finance Committee. The CEOs of AbbVie Inc., AstraZeneca, Bristol-Myers Squibb Co., Johnson & Johnson, Merck & Co., Inc., Pfizer, and Sanofi will publicly testify.