Impact of the Inflation Reduction Act on Biosimilar Pricing, Dispensing

With the introduction of biosimilar products to the prescription drug market coming less than 10 years ago, it took time and effort for this specific type of therapy to receive appropriate recognition for the care biosimilars are able to provide. Since 2015, however, biosimilars have arose as a viable—and more importantly, cost-effective—option for patients struggling to afford medications and pharmacies struggling with declining reimbursements.

“I think that the factors that are making more acceptance are just the fact that there's more awareness of biosimilars, that there's more data, more overall public experience showing that the outcomes haven't changed for patients who've taken a biosimilar versus an originator over the past 10 years,” said Steve Callahan, Senior Director of Advisory & Insights at MMIT. “There's been this new interchangeable designation, and then just some very high-profile products to get biosimilars. And there's a lot more in the works that are going to get biosimilars in the near future.”

Callahan is a data and market expert who works closely with other industry experts to help several parties within the drug supply chain better understand market trends. He sat down with Drug Topics on the most recent episode of Over the Counter to discuss the evolution of biosimilars and how future Inflation Reduction Act provisions will impact their costs.

READ MORE: Biosimilars Resource Center

Are you ready to elevate your pharmacy practice? Sign up today for our free Drug Topics newsletter and get the latest drug information, industry trends, and patient care tips, straight to your inbox.