The Biosimilar Promise
Reforms Can Improve Competition and Generate More Savings
Reforms Can Improve Competition and Generate More Savings By Wayne Winegarden | January 7, 2025 READ PDF Executive Summary Reforms that will strengthen the biosimilar market and expand savings opportunities include: Reforming (ideally repealing) the Inflation Reduction Act’s price control measures. Improving the incentives underlying the current buy-and-bill system to better align the financial incentives of providers, payers, and patients. Promoting greater transparency to the opaque drug rebating system including addressing the rebate wall problem ...
Here’s What’s in Trump’s Healthcare Plan
The American people are about to find out what Donald Trump meant when he said he had “concepts of a plan” for healthcare reform. It’s reasonable to expect market-oriented changes that lead to more choices, lower costs and better stewardship of taxpayer dollars. One of the most important actions Trump could take is to let costly enhanced subsidies for exchange coverage expire at the end of 2025. Those subsidies ensure that anyone making between 100 ...
The Biosimilar Promise
Despite Achievements, Barriers That Discourage Biosimilar Use Remain
Despite Achievements, Barriers That Discourage Biosimilar Use Remain By Wayne Winegarden | December 2, 2024 READ PDF Executive Summary The Inflation Reduction Act’s price controls discourage biosimilar development. Payment system inefficiencies, such as the buy-and-bill payment system and rebate walls, disincentivize the use of lower cost biosimilars. Despite the savings biosimilars have already enabled, there are barriers to further progress. First, the price controls from the Inflation Reduction Act (IRA) disincentivize biosimilar development. Second, the ...
The Biosimilar Promise
Low-Cost Biosimilars Are Saving Billions, Potential Savings Are Even Greater
Low-Cost Biosimilars Are Saving Billions, Potential Savings Are Even Greater By Wayne Winegarden | October 28, 2024 READ PDF Executive Summary Since 2019, biosimilars have obtained a majority share of most markets where they compete. The combination of lower prices (both biosimilar and originator) and rising market share could have generated up to $35 billion in savings in 2024 dollars compared to an all-originator baseline based on PRI’s latest analysis. These savings demonstrate that, ...
The Biosimilar Promise
Biosimilars Often Reduce Prices by 50 Percent or More
Biosimilars Often Reduce Prices by 50 Percent or More By Wayne Winegarden | October 1, 2024 READ PDF Executive Summary In the competitive biologic markets, biosimilars have reduced average prices by 56 percent. The lower prices have reduced total expenditures by 51 percent in the competitive biologic markets even though total use is higher. Developing biosimilars is a long and costly endeavor that can take up to 9 years and $300 million. Market conditions should ...
For Third Year in a Row, PRI Survey Finds Vast Majority of Americans Are Satisfied with their Health Coverage
For Third Year in a Row, PRI Survey Finds Vast Majority of Americans Are Satisfied with their Health Coverage Just 37% Support Government Health Care Takeover SACRAMENTO – For the third year in a row, an overwhelming majority of Americans say they are satisfied with their current health coverage, based on a new national survey commissioned by the nonpartisan Pacific Research Institute, a California-based, free market think tank. 91% said they were satisfied with their ...
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