State Senator Carla Nelson explains how the pharmaceutical industry is reacting to her bill requiring payers to cover all approved biosimilars and reference products.
Why is Minnesota a good place to try a bill of this type, especially since it's the first of its kind in the country?
Nelson: Well, I think Minnesota is a great place, because number 1: we like to be a state of innovation. Whether it be education or in other areas, Minnesota is an innovator. Secondly, we are a hotbed of excellent health care. And I'll give a shout-out to the Mayo Clinic, which is in my district in Rochester. We have a number of gold standard health care providers in our state. We also are a state known for medical innovation, and so a medical ally comes to mind. So, Minnesota is the place to do this. And I'm very proud of the fact that our first biosimilar bill actually passed before we even had 1 biosimilar in our nation. And the point is, we should be on the cutting edge of this and Minnesota can lead. It will be great for our citizens and it will also be great for those [companies] who will continue to [develop] those biosimilars that will have the same outcomes, but at a much lower cost.
What are the politics involved here and are you feeling any pushback from the payer or manufacturer community?
Nelson: There's always pushback to change, and the key is really listening to those objections—really trying to sort out which ones are objections that matter, [such as] how is it affecting the patient? How is it affecting the doctor-patient relationship? How is it affecting the cost and the choice? So, those are the things that really come to the front. I'm very pleased with the language we have in [the bill, addressing] wholesale cost and covering biosimilars that are at a lower cost. I think those are 2 really key pieces that are going to help drive this to fruition and actually incentivize more biosimilars and get lower-cost of drugs to our patients on time without needing to go through the delay of prior authorization. And I think our medical providers will appreciate as well that these things are covered on the formulary, so they don't have to go through the cycle of paperwork for things like prior authorizations.
To read more about SF 990, click here.
To hear about this bill from State Representative Jennifer Schultz, co-author of SF 990, click here.
13 Strategies to Avoid the Nocebo Effect During Biosimilar Switching
December 18th 2024A systematic review identified 13 strategies, including patient and provider education, empathetic communication, and shared decision-making, to mitigate the nocebo effect in biosimilar switching, emphasizing the need for a multifaceted approach to improve patient perceptions and therapeutic outcomes.
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.
Commercial Payer Coverage of Biosimilars: Market Share, Pricing, and Policy Shifts
December 4th 2024Researchers observe significant shifts in payer preferences for originator vs biosimilar products from 2017 to 2022, revealing growing payer interest in multiple product options, alongside the increasing market share of biosimilars, which contributed to notable reductions in both average sales prices and wholesale acquisition costs.
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.