Drug Topics November 30, 2024
Steve Callahan, Senior Director of Advisory & Insights at MMIT, discussed out-of-pocket costs and the impact biosimilars are predicted to have for patients in the future.
Amongst declining reimbursements and increasing prescription drug prices, pharmacists and patients alike have recently looked to biosimilars to alleviate some financial pressures at the pharmacy counter. With federal legislation—namely the Inflation Reduction Act (IRA) of 2022—intervening to the benefit of prescription drug beneficiaries, biosimilars could arise as even better options for cheaper, alternative medications.
“[The IRA’s provisions are] meant to continue to incentivize manufacturers to create biosimilars because they want competition,” said Steve Callahan, Senior Director of Advisory & Insights at MMIT. “They don’t want to [disincentivized] any manufacturer from coming out with a...
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