FOR IMMEDIATE RELEASE:

March 10, 2020
Press Contact:
(202) 350-0515

Washington DC—Today, the Hatch Center—the policy arm of the Orrin G. Hatch Foundation—hosted a symposium entitled "Biosimilars: Breaking Through Barriers" on biosimilars and the future of pharma. The event was held at the Willard InterContinental with keynote speaker Secretary Alex M. Azar II, US Department of Health and Human Services.

The event also featured two panels that represented physicians, patient groups, employers, and policy leaders, including: Congressman Michael Burgess, MD, (R-TX); Alex Brill, American Enterprise Institute Resident Fellow; Sameer V. Awsare, MD, FACP, Permanente Medical Group Associate Executive Director; Anette Guarisco Fildes, ERISA Industry Committee President and CEO; Anna Hyde, Arthritis Foundation Vice President of Advocacy and Access; Wayne Winegarden, Ph.D., Pacific Research Institute Senior Fellow; Pam Traxel, American Cancer Society Cancer Action Network Senior Vice President; and Brett Baker, United States Senate Finance Committee Senior Health Policy Advisory.

The event, hosted by the Biosimilars Forum, Pfizer, and the Hatch Center, shined a light on the next generation of lower-cost treatments and the role they can play in reducing drug costs. The discussion highlighted barriers that patient, physician and employers face when trying to access FDA-approved biosimilars their cost-saving benefits. 

“For the past decade, Pfizer has pioneered to bring lower-cost biosimilars to patients around the world. We’ve been discussing the value of biosimilars for a long time and it’s clear that changes are needed to encourage physicians and insurers to unlock the full potential of these life-changing medicines for patients and society,” said Andy Schmeltz, President and General Manager of Pfizer Oncology.

Experts also expressed the urgent need for policy makers to address barriers that are keeping billions in savings away from seniors and taxpayers—biosimilars are on average 26 percent less expensive than the brand-name biologic. They also applauded Secretary Azar’s recognition of the need for incentives to support the US market.

“Despite the tough political climate, Congress and the administration have rightfully recognized that biosimilars are a necessary part of the solution to address America’s rising health care costs and now is the time to act," said Biosimilars Forum President Juliana Reed. "The comprehensive proposals discussed today, as well as the FDA and FTC’s commitment to actively combat misinformation, can alleviate the financial burden on our nation’s seniors, patients and taxpayers and result in near-immediate health care savings."

To watch the full event, click HERE.

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