Report Highlights Employer Savings from Increased Employee Access to Biosimilars
Juliana M. Reed, executive director of the Biosimilars Forum, released the following statement about the report “Improving Drug Management – Employer Strategies on Biosimilars” by The National Alliance of Healthcare Purchaser Coalitions. The report was sponsored by the Biosimilars Forum.
“Biologics make up just two percent of U.S. drug prescriptions, yet they account for 40 percent of total drug spending. This report clearly states that biosimilars can provide employees with additional safe and effective treatment options and save employers billions of dollars annually.
“Biosimilars are critical to lowering prescription drug costs in America. While policymakers must do more to incentive and promote biosimilars, it is also mission-critical that employers provide their employees with FDA-approved biosimilar options, which could reduce drug costs by $133 billion over the next five years if their use rises.
“The Biosimilars Forum is proud to support research that provides employers with important, actionable steps to support biosimilars and outlines the potential for biosimilar cost savings when they are made available on plan formularies.”
The report can be found here.
For more information on the Biosimilars Forum’s work to increase access to lower-cost biosimilars, visit biosimilarsforum.org.