Viatris Inc. Joins Biosimilars Forum
Latest Member to Join Premier Forum of Manufacturers Promoting Patient Access to Lower-Cost Biosimilars
WASHINGTON, D.C. – The Biosimilars Forum today announced Viatris Inc. (NASDAQ: VTRS) as its newest member as the organization grows and works to promote awareness and improve patient access to lower-cost biosimilars that can save the U.S. billions.
Viatris was formed through the combination of Mylan and Pfizer’s Upjohn business and has one of the industry’s largest and most diverse global biosimilars franchises focused on the areas of oncology, immunology, endocrinology, ophthalmology and dermatology.
We are thrilled to welcome Viatris to the Biosimilars Forum. With our members representing the majority of companies with the most significant U.S. biosimilars development portfolios, this is a critical time for the industry as well as the patients and seniors who need the savings that biosimilars provide,” said Meaghan Smith, Executive Director of the Biosimilars Forum. “Biosimilars have the ability to unlock billions of dollars in savings for the U.S. as well as global markets throughout the world at a time when patients and our health care system desperately need it, and Viatris will play a vital role in helping the Forum advance these effective and affordable treatment options.
At Viatris, we see healthcare not as it is, but as it should be,” said Tony Mauro, President of Developed Markets for Viatris. “Our biosimilars strategy continues to be focused on developing and executing on our long-term global franchise, focusing on market relevance and being a partner of choice to hospitals, clinics, pharmacies and physicians. We look forward to working in collaboration with the Biosimilars Forum to further support our mission to empower people worldwide to live healthier at every stage of life by helping to bring more affordable medicines, including biosimilars, to patients.
Biosimilar medicines are safe and effective alternatives to originator biologics but at a lower cost. The adoption of biosimilars could reduce drug costs in the U.S. by $250 billion over the next decade, however barriers like structural disincentives, market and regulatory dynamics, and deliberate disparagement and misinformation have held the market back.
There are currently eight bipartisan policy proposals in Congress that would increase patient access to and use of biosimilars, increasing health care savings by encouraging competition and providing direct cost savings to employers and taxpayers.