The Food and Drug Administration is considering a change to its biosimilar policy that would greatly speed up their approval process – which, if enacted, would be a big win for MedBen Rx clients who are already reducing their prescription drug spend through biosimilars.
In new draft guidance, the FDA eliminates the requirement that biosimilars undergo what’s known as “switching studies” – clinical trials proving that they are equivalent to brand-name drugs. “[E]xperience has shown that for the products approved as biosimilars to date, the risk in terms of safety or diminished efficacy is insignificant following single or multiple switches between a reference product and a biosimilar product,” the draft guidance states.
By simplifying the approval process, biosimilars can reach the market faster… and as MedBen Rx clients who have made the switch from the anti-inflammatory Humira to the biosimilar Idacio can attest to, greater biosimilar availability can translate to substantially lower drug costs. Because based on year-to-date numbers, clients will save $3.28 million in 2024 by offering Idacio… and soon, clients will get even lower Idacio pricing!
If you are a MedBen client and you haven’t opted into the Humira biosimilar program, don’t miss out on the savings any longer… contact your Account Management team today!