Health Payer Intelligence April 6, 2022
Biosimilars could be key to reducing Medicare Part D spending, but utilization would have to increase for significant savings to be realized.
Policymakers should consider increasing access to and promoting the use of biosimilars and monitoring trends in biosimilar coverage in order to bring down Medicare Part D spending, the Office of Inspector General (OIG) recommended.
“A biosimilar is a lower cost biologic that is highly similar to an existing biologic approved by the Food and Drug Administration (i.e., the biosimilar’s “reference product”),” the OIG study explained.
“Although a limited number of biosimilars are currently available for Part D covered reference products, multiple biosimilars for Humira—the best selling prescription drug in the world—are expected to be available in 2023,...
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