Biosimilars in the Pharmacy Benefit

Published 07/03/2020

Despite the fact that less than 2% of the US population uses biologic drugs, they account for 26% of national prescription drug spending. Biosimilars can expand options, enhance affordability, and increase access to therapy. It’s been estimated that biosimilars could save patients and the healthcare system from $54 to $250 billion over their first 10 years on the market without compromising outcomes. But while biosimilars hold great promise to alter the price trend on specialty pharmaceuticals, it’s a confusing and murky marketplace. Uptake on many biosimilars has been slow, in part because employers are often unsure about how to take appropriate action to encourage more—and more affordable— pharmaceutical options for employees and their dependents.

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