Prime Therapeutics applauds new legislation to drive greater biosimilar uptake, lower total cost of care
EAGAN, Minn., April 26, 2021 /PRNewswire/ -- Prime Therapeutics LLC (Prime), a leading pharmacy benefit manager (PBM) serving approximately 33 million members nationally, released the following statement in response to the recent enactment of "The Ensuring Innovation Act" and the "Advancing Education on Biosimilars Act of 2021" by the U.S. Congress. The Acts are intended to increase availability of biosimilars by removing barriers or loopholes that prevent adoption:
"We applaud the President of the United States and Congress today as two bills were signed into law that will help address high drug prices by removing barriers that currently prevent greater adoption of biosimilars," said Joseph Leach, MD, chief medical officer of Prime Therapeutics.
Dr. Leach added, "'The Ensuring Innovation Act' and the 'Advancing Education on Biosimilars Act of 2021' are a much-needed boost to help normalize use of biosimilars, just as generics were normalized years ago. Prime has long supported use of biosimilars. Prime has taken measures to manage to the lowest net-cost therapeutic options and recently worked with its Pharmacy and Therapeutics Committee to endorse a position that creates a pathway for Prime's health plans to prefer the use of biosimilars whenever appropriate.
"With more biosimilars coming to market creating increased competition for various therapy classes, now is the time to double down on any and all efforts to encourage further use of biosimilars," noted Dr. Leach. "Prime is well positioned to help our clients with biosimilar adoption in their local and regional markets. Biosimilar education for providers and patients will help increase adoption and improve cost savings, so leveraging HHS's educational materials will be a great reinforcement. We're driving toward total drug management solutions that include biosimilar uptake. Bottom line, we see great value in focusing on any and all steps that can pave the road toward faster adoption and lowering of prescription drug costs for health plans, employers and patients, and as a pharmacy benefit manager committed to lowest total cost of care we stand ready to support the administration."
About Prime Therapeutics
SOURCE Prime Therapeutics LLC