ERISA Industry Committee urges Ohio legislature to recognize value of biosimilars
The ERISA Industry Committee has submitted a comment letter to the Ohio House of Representatives Insurance Committee urging the panel to amend House Bill 291 to include access to all biosimilar products, a necessary step to ensure that the bill will promote competition and drive lower drug costs for Ohioans.
“Biosimilars are safe, effective, high-quality and affordable alternatives to their reference biologics,” said Melissa Bartlett, senior vice president for Health Policy of ERIC. “We support efforts to drive better patient access to these treatments, as doing so will help workers and families reduce their health care costs and maintain access to high-quality prescription drugs.”
AAM report: Generic, biosimilar drugs generate $408B in savings
Bartlett added that HB 291, as written, would limit access to more than 40 biosimilars available today, and agreed with the federal Food and Drug Administration that a distinction should not be drawn between biosimilar products and “interchangeable” biosimilar products.
In 2020, ERIC launched an initiative to explore the value and savings potential of biosimilars for employers and employees, and to develop strategies to promote patient access and use of biosimilars to drive value in employer-sponsored health benefits. The ERIC Biosimilar Initiative’s three-pronged approach examined how employers, employees and their families can realize greater benefits from the presence and utilization of biosimilar options. Read the report here.
[Read more: Challenges continue, but generics companies see a bright future with biosimilars]
To read ERIC’s letter to the Ohio House of Representatives Insurance Committee, visit online here.