The Biosimilars Forum has announced Viatris as its newest member. This new partnership aligns with Viatris’ ongoing commitment to increasing access to treatment for patients in the U.S. and around the world through our global franchise. As a member of the Biosimilars Forum, we will be combining forces with other organizations that are as passionate as we are about expanding the U.S. biosimilars market to help increase the availability of biosimilars for patients and reduce overall healthcare costs.
Biosimilars offer an opportunity to provide patients with greater access to costly biologics. According to regulatory authorities, there are no clinically meaningful differences between a biosimilar and its reference product in terms of safety and efficacy. While biologics have vastly improved the lives of people living with serious diseases, many people around the world still struggle to gain access to them. Biosimilars have the potential to improve patient access to these important medicines.
Unfortunately, barriers such as regulatory hurdles, disincentives, market dynamics and misinformation campaigns have held the biosimilars market back. This is especially true for the U.S., where patients continue to face challenges accessing biosimilar medicines.
As a member of the Biosimilars Forum, we will be working to provide evidence-based information to inform and support public policies that encourage the three A’s – Awareness, Access and Adoption of biosimilars.
Expanding the biosimilars market is critical, as a more robust, diverse, competitive market would provide more treatment options for patients and potentially help make these critical medicines more affordable. The broader adoption of biosimilars could ultimately help to reduce drug costs in the U.S. by $100 billion over the next 5 years, according to the IQVIA Institute for Human Data Science.
Thanks in large part to the work of the Biosimilars Forum, there are currently eight bipartisan policy proposals in Congress that would increase patient access to and use of biosimilars, while also increasing healthcare savings by encouraging competition and providing direct cost savings to employers and taxpayers. But there is still so much more to be done.
At Viatris, we are determined to break down barriers to biosimilar access. As part of the Biosimilars Forum, Viatris will play an important role in driving policy and face these hurdles head on, challenge the status quo and create real change.
We are excited to work in collaboration with the Biosimilars Forum to lead the charge in biosimilars advancement and help bring more accessible, lower-cost treatment options to patients. Because at Viatris, we see healthcare not as it is, but as it should be.