Report: Biosimilar Interchangeability, Reimbursement Need Revamping

Free-market think-tank Pacific Research Institute released a report Thursday (July 11) that pinpoints market practices -- such as low biosimilar reimbursement, step therapy policies and anti-competitive contracting practices -- and lack of education from FDA on interchangeability and biosimilar safety as the biggest obstacles to biosimilar competition. Report author Wayne Winegarden, senior fellow in business and economics at the institute, argues spending on biologics can be reduced by nearly $5 billion annually if biosimilars obtain a 50% market share, but...