The Biosimilars Forum Applauds Representative Pfluger (R – TX) and Representative Landsman (D – OH) for Helping Make Lower-Cost Medicines Available to Americans

Proposed Bipartisan Legislation Will Improve Access to Biosimilars, Reduce Unnecessary Regulations

WASHINGTON, D.C. – Representative August Pfluger (R – TX) and Representative Greg Landsman (D – OH) proposed important legislation to reduce regulatory red tape to help ensure lower-cost biosimilars are available to Americans who need them.

This proposed legislation reflects more than 15 years of clinical experience and data from the biosimilars industry developing more than 70 safe, effective, and lower-cost biosimilars.

Efficiencies in developing and approving biosimilars will enable patients to access more and a wider variety of biological drugs without impacting safety or effectiveness.

“The Biosimilars Forum thanks the Congressmen for their leadership in reducing prescription drug costs, improving access to biosimilars, and encouraging free-market competition,” said Juliana M. Reed, executive director the Biosimilars Forum. “Biosimilar development should evolve to reflect current science and available evidence. The Forum and our members look forward to working with Congress and the Administration to continue supporting access to lower-cost medicines for Americans.”

Biosimilars have been associated with savings of $56 billion. The next five years could see an increase in savings up to $181 billion for Americans and the healthcare system. However, time is of the essence as the biosimilars industry faces a looming ‘biosimilars void.’

Over the next decade, 118 biologics are expected to lose patent protection, and biosimilars could offer significant cost-savings for each of these. Unfortunately, only 10 percent currently have biosimilars in development, while 90 percent have no biosimilar in the pipeline. This void in the biosimilar market significantly limits savings potential to the healthcare system.

This legislation offers additional support for lower-cost biosimilars. In April, the White House’s ‘Lowering Prescription Drug Prices’ Executive Order promoted the necessity of biosimilars.

For more information on the Biosimilars Forum’s work to increase access to lower-cost biosimilars, visit biosimilarsforum.org.