Congresswoman Carol Miller (R-WV) participated in a hearing of the Ways and Means Health Subcommittee to address the role of biosimilars in healthcare. She emphasized the potential of biosimilars to reduce healthcare costs, particularly in financially constrained areas like her district in West Virginia.
Miller noted, “The majority of my work in the health care space is focused on ensuring robust patient access to care, particularly for rural patients.” She highlighted the financial challenges many West Virginians face and stated, “Biosimilars seem to be a great option that can help reduce patient costs.”
During the hearing, Dr. Debra Patt, MD, President of the Community Oncology Alliance, spoke about barriers to using biosimilars. Dr. Patt said, “The medical community is well versed in comparison to a decade ago regarding biosimilars…but there are other barriers that we face.” She pointed out issues with insurance companies and pharmacy benefit managers prioritizing specific biosimilars, which may not be the most viable option financially.
Dr. Colin Edgerton, MD, Director of Articularis Healthcare Group, discussed the questions patients often have regarding biosimilars. Edgerton mentioned, “Typically, patients are most interested in the potential side effects of the drug.” He also noted that pricing and access issues arise due to formulary constructions and rebates negatively impacting the cost-benefit equation for biosimilars.
Congresswoman Miller addressed complications stemming from the Inflation Reduction Act with Craig Burton, Executive Director of the Biosimilars Council. Burton explained that consistent lawmaking is crucial for market predictability, stating, “For biosimilar manufacture…you need predictability…you need to know you’re going to get adoption.”
The hearing spotlighted the need for education on biosimilars and the challenges posed by current market and legislative environments. It emphasized a collaborative approach to optimize the potential benefits of biosimilars in healthcare.
