MedCity News November 28, 2023
As IRA provisions are activated, the law’s impact on biologics and biosimilars will become more apparent. By using both the carrot and the stick, the IRA may finally bolster the market, increasing uptake of biosimilars to benefit patients and help lower costs.
Biological medicines, or biologics, are now a treatment mainstay for diseases such as ulcerative colitis, rheumatoid arthritis, Crohn’s, and other autoimmune disorders, yet, these medications cost tens to even hundreds of thousands of dollars per patient, per year. As demand continues to grow (the market is expected to reach $596.65 billion by 2029), biologics’ impact on rising medical costs needs to be considered.
In 2017, biologics only accounted for 2% of U.S. prescriptions by volume but made up...
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