Biosimilars usage is lowering costs for patients and the Medicare program
This issue brief delves into the insights provided by a March 2024 Office of Inspector General (OIG) Data Snapshot, which examined the evolving landscape of reference products and biosimilars within Medicare Part B. The findings showcase a notable decrease in prices for both reference products and biosimilars following the introduction of biosimilar competition, resulting in significant cost savings for the Medicare Part B program and beneficiaries. This analysis underscores the pivotal role that biosimilars play in fostering competition and controlling health costs.
*This work was funded by the Pharmaceutical Research and Manufacturers of America, with editorial control maintained by Cencora.
Cencora.com is providing automated translations to assist in reading the website in languages other than English. For these translations, reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace human translators. These translations are provided as a service to users of Cencora.com and are provided "as is." No warranty of any kind, either expressed or implied, is made as to the accuracy, reliability, or correctness of any of these translations made from English into any other language. Some content (such as images, videos, Flash, etc.) may not be accurately translated due to the limitations of the translation software.
Any discrepancies or differences created in translating this content from English into another language are not binding and have no legal effect for compliance, enforcement, or any other purpose. If any errors are identified, please contact us. If any questions arise related to the accuracy of the information contained in these translations, please refer to the English version of the page.