At the National Policy and Advocacy Summit on Biologics and Biosimilars, held in Washington, DC, on April 17, Earl “Buddy” Carter, Republican Congressman for Georgia’s first legislative district, highlighted his work to control the price of drugs for patients.
At the National Policy and Advocacy Summit on Biologics and Biosimilars, held in Washington, DC, on April 17, Earl “Buddy” Carter, Republican Congressman for Georgia’s first legislative district, highlighted his work to control the price of drugs for patients.
Carter discussed a piece of legislation that he is sponsoring: HR 5343, or the Prescription Transparency Act of 2018, which was introduced to the House of Representatives on March 20, 2018. The bill seeks to amend the Public Health Service Act to nullify pharmacy benefit managers’ (PBMs’) contractual provisions that prohibit pharmacists from telling consumers whether they could save money by paying for a prescription in cash rather than through their insurance plans.
Carter, a pharmacist himself, took PBMs to task for such provisions, which he termed “gag clauses.”
“We’re subject to penalties or being kicked out of the network” for telling patients about ways to save on their prescriptions. “Now how absurd is that? My legislation says that gag clauses will no longer be valid. It’s as simple as that,” said Carter.
He added that he is skeptical of PBMs in general: “I’m not against anybody making money…however, you cannot show me, and you cannot convince me…that [PBMs] bringing any value whatsoever to the system…if you talk to a PBM, and you ask what their mission is…[they would say that it is] to control prescription drug prices. Well, how is that working out for you?”
Carter emphasized the fact that the high cost of drugs is a nonpartisan problem that affects all Americans, and that innovative therapies, like high-cost drugs that target hepatitis C, are only useful to patients if they can afford them.
To that end, Carter says, biosimilars represent a critical opportunity for the US healthcare system to make drugs more accessible for patients who need them. For over 30 years in his pharmacy, Carter said, he would have patients come to his counter in tears because they couldn’t afford their medication, and biosimilars offer an important option for creating in price competition to bring down costs and increase access, which Carter called “the best thing we can do for our healthcare system.”
“[Biosimilars are] the wave of the future, and we understand that in pharmacy,” said Carter. “I’m all in.”
Carter also encouraged healthcare providers to engage with their representatives and raise awareness of the issues that impact individual practices. He urged practitioners to invite their congressional representatives to their practice settings to let them see the value of their work and the challenges they face in delivering care.
Empowering Vulnerable Populations: The Path to Equitable Biologic Therapy Access
December 22nd 2024Elie Bahou, PharmD, senior vice president and system chief pharmacy officer at Providence, discusses strategies to improve equitable access to biologic therapies, including tiered formularies, income-based cost sharing, patient assistance programs, and fostering payer partnerships.
Biosimilars Policy Roundup for September 2024—Podcast Edition
October 6th 2024On this episode of Not So Different, we discuss the FDA's approval of a new biosimilar for treating retinal conditions, which took place in September 2024 alongside other major industry developments, including ongoing legal disputes and broader trends in market dynamics and regulatory challenges.
BioRationality: Withdrawal of Proposed Terminal Disclaimer Rule Spells Major Setback for Biosimilars
December 10th 2024The United States Patent and Trademark Office (USPTO)’s withdrawal of its proposed terminal disclaimer rule is seen as a setback for biosimilar developers, as it preserves patent prosecution practices that favor originator companies and increases costs for biosimilar competition, according to Sarfaraz K. Niazi, PhD.
Perceptions of Biosimilar Switching Among Veterans With IBD
December 2nd 2024Veterans with inflammatory bowel disease (IBD) prioritize shared decision-making, transparency, and individualized care in biosimilar switching, favoring delayed switching for severe cases and greater patient control.
The Rebate War: How Originator Companies Are Fighting Back Against Biosimilars
November 25th 2024Few biologics in the US have multiple biosimilar competitors, but originator biologics respond quickly to competition by increasing rebates and lowering net prices, despite short approval-to-launch timelines for biosimilars.