Biosimilars Forum Calls on CMS to Support Lower-Cost Biosimilars and Increase Access for Patients

Juliana M. Reed, executive director the Biosimilars Forum, released the following statement after Medicare & Medicaid Services (CMS) disclosed the results of negotiations for the price of 10 prescription drugs.

“The Biosimilars Forum is greatly concerned that the Centers for Medicare & Medicaid Services (CMS) is misinterpreting the Biosimilar Special Rule of the Inflation Reduction Act (IRA). Congress’s intent was to omit products from negotiation that will have imminent biosimilar competition, which would ultimately provide more choice to patients and lower prescription drug prices. The Forum calls on CMS to immediately adjust their draft guidance to align with Congressional intent of the statute, which will preserve free-market competition and lower prices for patients.

“The Forum supports lower drug prices for patients, and we believe free market competition is the best way to achieve this. CMS has the opportunity to promote competition that lowers prices and increases access for patients through lower-cost drugs, like biosimilars. Biosimilars can save the U.S. health care system up to $133 billion by next year if they are accessible.

“When Congress passed the IRA, policymakers intended for the Biosimilar Special Rule to exempt products from negotiation with biosimilars. Several biosimilars for STELARA® are  formally set to launch in 2025 and should able to meaningfully compete in a free market system. CMS should follow the intent of the IRA and immediately remove Stelara from the list. CMS should adjust its guidance so that patients can have access to lower-cost biosimilars for STELARA®.

“The Biosimilars Forum and our member companies look forward to continued collaboration with regulators in the Biden Administration and on both sides of the aisle in Congress to help patients access lower-cost biosimilars and lower the cost of prescription drugs.”

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