Biosimilars Forum Statement on CMS Announcement of Drug Negotiation List 

Juliana M. Reed, executive director the Biosimilars Forum, released the following statement after the Centers for Medicare and Medicaid Services (CMS) announced the first 10 drugs subject to price negotiation. This list includes two drugs with soon-arriving biosimilar competitors.

“The Biosimilars Forum is disappointed that CMS has decided to stifle open market competition by placing two drugs — Enbrel and Stelara — with soon-arriving biosimilar competitors for price negotiation. Both products could see biosimilars launched and marketed prior to the 2026 rollout of the selected drugs’ negotiated prices.

“Biosimilars save money. In fact, a competitive biosimilars market can save patients and the U.S. health care system $133 billion over the next three years. The Medicare program alone could have saved millions if all biosimilars had been used as frequently as the most-used biosimilars.

“The Biosimilars Forum calls on Congress and the Biden Administration to ensure that the misguided implementation by CMS to date of this flawed legislation does not further threaten the long-term sustainability of the biosimilar market. Manufacturers spend 8 to 10 years and close to $300 million for each biosimilar they develop — and the Forum has made a commitment to the patients we serve to bring these lower-cost products to the marketplace.”