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Session 7: US Biosimilar Market Policy and Closing Remarks
Session Chair(s)
Juliana Marguerite Reed, MS
Executive Director, The Biosimilars Forum, United States
Tiffany Fletcher, MA
Head of Global Access Policy, Viatris, United States
Biologics are the single largest driver of prescription drug spending –making up 40% of US drug spending but accounting for just 2% of prescriptions filled. The first biosimilar became available to patients in the U.S. in 2015, and since then the FDA has approved 30 biosimilars and 20 are currently available to patients. With estimated launch prices at an average 30% lower than their originator products, biosimilars could play an essential role in the US healthcare system, both in terms of expanding access to biologic therapies, providing patient and physician choice, and addressing the healthcare budget. IQVIA estimates that the expanded availability of biosimilars will save $100 billion in U.S. drug costs over five years. In order to achieve the full savings potential of biosimilars, this session will explore policy solutions to support greater adoption of biosimilars in the US.
Learning Objective : At the conclusion of this session, participants should be able to:
- Describe the current US biologics/biosimilars market
- Identify specific market barriers to greater biosimilar adoption
- Evaluate policy solutions to support patient, provider, and payer uptake of biosimilars
- Assess the benefits that policy incentives for biosimilars can bring to the US healthcare system and to patients
Speaker(s)
Anna Hyde, MA
Vice President of Advocacy & Access, Arthritis Foundation, United States
Speaker
Ted Okon, MBA
Executive Director, Community Oncology Alliance, United States
Speaker
Margaret Rehayem, MA
Vice President, National Alliance of Healthcare Purchaser Coalitions, United States
Speaker
Meaghan Smith
Executive Director, Biosimilars Forum, United States
Speaker
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