Biosimilars Forum Applauds Congressman Hudson For Supporting Biosimilars Through Shared Savings Legislation

Juliana M. Reed, executive director the Biosimilars Forum, released the following statement after Congressman Richard Hudson (R-NC) introduced legislation to establish a shared savings reimbursement model for biosimilars in Medicare Part B. This legislation will make FDA-approved, lower-cost biosimilars more accessible for patients.

“The members of the Biosimilars Forum and I thank Congressman Hudson for introducing this vital piece of legislation, which would help make biosimilars more accessible. Biosimilars can save the health care system $133 billion by 2025 if they are fully available and accessible to the patients who need them.

“Health equity and maximizing cost-savings for patients are at the forefront of the Biosimilars Forum’s mission. A shared savings reimbursement model can significantly close health equity gaps and deliver treatments to individuals and communities who need them most.

“2023 is a watershed year for biosimilars in the United States – led by the launch of eight Humira biosimilars, referencing the world’s best-selling drug. This make-it-or-break-it year for the biosimilars industry requires the full support of policymakers and stakeholders to provide patients with the lower-cost treatments they deserve. I look forward to working with lawmakers on both sides of the aisle to get this moment right and deliver lower-cost biosimilars for patients.”

For more information on the Biosimilars Forum’s work to increase access to lower-cost biosimilars, visit biosimilarsforum.org.