A newly introduced item of legislation proposes to eliminate co-payments for patients when they receive a biosimilar rather than an originator biologic in Medicare Part B.
A newly introduced item of legislation proposes to eliminate co-payments for patients when they receive a biosimilar rather than an originator biologic in Medicare Part B.
The Acting to Cancel Copays and Ensure Substantial Savings for Biosimilars (ACCESS) Act, or HR 4597, was introduced this week by Representatives Scott Peters, D-California; Pete King, R-New York; and Anthony Brindisi, D-New York. The bill, which would amend Title XVIII of the Social Security Act, has now been referred to the House Energy and Commerce Committee and to the House Ways and Means Committee.
According to a statement made by Peters, “The government can and should drive down drug costs and one way we can do that is by increasing competition. If we eliminate copays on biosimilars, it will increase their widespread use and provide a market incentive to drive down overall drug costs. I am committed to lowering health care costs and expanding treatment options for all Americans, and the bipartisan ACCESS Act does just that.”
King added that the legislation is an important step in the ongoing effort to rein in drug prices for some of the most expensive drugs and that the bill could increase patient access to therapy.
Biosimilars trade group the Biosimilars Forum, which represents 8 biosimilar developers, applauded the bill’s introduction, saying in a statement that “Patients and taxpayers win with this legislation.” According to the forum, the legislation will support development of lower-cost drugs and will alleviate the financial burdens felt by American patients who struggle to afford biologic treatment.
“To date, there are 23 FDA-approved biosimilars. With only 9 available to patients, uptake continues to be low, adding costs to taxpayers and patients. This is proof enough that more needs to be done by Congress, [CMS], and others to spur and sustain a vibrant, competitive biosimilars market,” said the forum.
Introduction of the ACCESS Act comes shortly after numerous groups, including the American Cancer Society Cancer Action Network, the Association of Community Cancer Centers, Employers Health, the Pacific Business Group on Health, the Leukemia and Lymphoma Society of America, CVS Health, and others, called on HHS to end cost sharing for biosimilars in Part B. In a letter to HHS Secretary Alex Azar, the groups said that the move would not only increase affordability for patients in Part B, but could also influence the rest of the payer market, as many commercial payers often follow CMS’ payment policies.
Biosimilars in America: Overcoming Barriers and Maximizing Impact
July 21st 2024Join us as we explore the complexities of the US biosimilars market, discussing legislative influences, payer and provider adoption factors, and strategies to overcome industry challenges with expert insights from Kyle Noonan, PharmD, MS, value & access strategy manager at Cencora.
Hesitancy in MENA Nations to Adopt WHO Biosimilar Guidelines Hinders Market Development
July 17th 2024The World Health Organization’s (WHO) new guidelines for biosimilar approvals aim to save time and money for manufacturers in the Middle East and North Africa (MENA), but hesitancy among nations to adopt the guidelines is stifling market development of biosimilars.
Biosimilars Policy Roundup for April 2024—Podcast Edition
May 5th 2024On this episode of Not So Different, The Center for Biosimilars® glances back at all the major biosimilar policy updates from April, including 2 FDA approvals, 1 European approval, and several insights into possible policy changes from the Festival of Biologics USA conference.