Biosimilars Forum Applauds Sandoz for Launch of Hyrimoz®
Juliana M. Reed, executive director the Biosimilars Forum, commends Sandoz for the successful market launch of Hyrimoz® (adalimumab-adaz). This launch marks a significant milestone in the introduction of multiple Humira® (adalimumab) biosimilars in the U.S. market this year. These biosimilars have the potential to reshape the landscape of prescription drug pricing in the country. Humira® (adalimumab) biosimilars could have saved Medicare an estimated $2.19 billion over four years.
“The launch of Hyrimoz® represents a pivotal moment in the advancement of biosimilars in the United States. By launching an FDA-approved biosimilar for Humira®, Sandoz contributes to creating a more competitive market that can significantly reduce prescription drug and healthcare costs.
“But the cost-savings potential of biosimilars can only be realized if they are accessible. It is crucial that these more affordable therapies are placed on formularies, allowing the biosimilars market to thrive and ultimately reducing healthcare costs significantly for those who need it.
“Humira® is the most expensive prescription drug in the United States and can cost upwards of $84,000 per year. It has experienced a 470% price increase since first introduced on the market.
“The Biosimilars Forum requests the Biden Administration, Congress, and federal regulators to rise to the occasion and ensure that Humira® (adalimumab) biosimilarsare made fully available to patients, including Medicare patients. This presents a remarkable opportunity to bring substantial affordability to Medicare, as biosimilar competition to Humira® could have saved an estimated $2.19 billion over four years.
“The biosimilars marketplace requires support from policymakers across party lines and to provide patients with the lower-cost, safe, and effective options they deserve. I look forward to frequent collaboration with decision-makers and key healthcare stakeholders as more Humira® (adalimumab) biosimilarsare introduced — with the hope of finally delivering long-awaited, necessary, and affordable treatments for the world’s best-selling drug.”
For more information on the Biosimilars Forum’s work to increase access to lower-cost biosimilars, visit biosimilarsforum.org.