The Biosimilars Forum Applauds the Trump Administration and Members of Congress for Lowering Prescription Drug Prices through PBM Reform

Juliana M. Reed, executive director of the Biosimilars Forum, released the following statement after President Trump signed a fiscal year (FY) 2026 appropriations bill that would fund the Department of Health and Human Services (HHS) through the end of FY 2026. The legislation includes major reforms to pharmacy benefit manager (PBM) practices that will increase access to lower-cost biosimilars for Americans.

“The members of the Biosimilars Forum and I applaud and thank the Trump Administration and members of Congress for taking decisive action to support Americans by addressing the anticompetitive, monopolistic conduct of PBMs that have prioritized profits over patients for years. The reforms to PBMs in the funding bill will make prescriptions more affordable for hard-working Americans, while increasing competition and transparency in the marketplace.

“FDA-approved biosimilars are on average more than 50% lower-cost than the originator biologics they reference. In the past eight years, the U.S. healthcare system saved $56 billion from biosimilars. Remarkably, biosimilars have the potential to save the U.S. health care system – including Medicare and veteran healthcare – up to $181 billion over the next five years. 

“Now more than ever, it is clear that biosimilars—safe, effective, and lower-cost medicines that reference biologics—are key to fixing America’s healthcare affordability crisis. Nearly 30% of Americans say they have not taken their medication as prescribed due to unaffordable prices. 

“This is especially pertinent as a ‘biosimilar void’ comes into view. 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.

“I thank the members of the Biosimilars Forum for their leadership in helping deliver lower-cost, safe and effective medicines to Americans. The Forum’s member companies are dedicated to providing patients with the medicines they need, and their efforts to inform Congress and the Administration about biosimilars have been instrumental in leading the charge for PBM reform.

“This is an important step in making biosimilars more readily available and accessible to patients, but more must be done to ensure the promise of biosimilars is fully realized. The Biosimilars Forum looks forward to continued work with Administration officials, the FDA and Congress to deliver lower-cost biosimilars for Americans.”

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

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