Biosimilars can help reduce prescription drug costs
The drug supply chain is complex, as is the way prescription drugs are priced.
It stands to reason that as lawmakers work to lower drug costs, there is not one solution, but many ways to address cost, and at the same time ensure patients have access to the medicines they need.
The IQVIA Institute for Human Data Science estimates that adoption of biosimilar medicines could help reduce costs in the U.S.A. by $100 billion in five years.
Fda-approved biosimilar drugs are part of the answer to lower costs. Biosimilars are almost identical to biologic drugs and can treat diseases such as diabetes, cancer, Crohn’s and rheumatoid arthritis. If you’re not familiar with biologic drugs, these are medicines that are used for immunotherapy and for targeted, personalized treatments for people with complex conditions. Biosimilars are similar to how generics are used for other prescription products.
Ohio Congressman Bob Gibbs (R-district 7) is helping to move policy actions that support biosimilars. Gibbs is a co-sponsor of HR 2855, which would encourage Medicare Advantage plans to increase biosimilar access.
House Resolution 2855, along with other biosimilar policy proposals, and other legislation to address prescription costs, will help in the effort to make medicine more affordable, and to help patients access advanced treatments.
Ernie Boyd, executive director, Ohio Pharmacists Association, Columbus