Navigation Links
CBO: Biogenerics Would Save Federal Government $6.6 Billion Over Ten Years
Date:6/25/2008

Creation of Clear Regulatory Pathway Would Also Lower Total Expenditures for Biologics by $25 Billion Over Ten Years

WASHINGTON, June 25 /PRNewswire-USNewswire/ -- The Congressional Budget Office (CBO) today released a cost analysis finding that the creation of an abbreviated pathway for follow-on biologics -- or biogenerics -- would save the federal government $6.6 billion over ten years and lower total expenditures for biologics by $25 billion over the same time period.

"For a quarter century, generic versions of chemical drugs have saved consumers and payors billions of dollars. Now, CBO has confirmed that giving FDA additional authority to approve generic versions of biologics will save billions more," said PCMA President and CEO Mark Merritt. "Even greater savings would be available if Congress simply applied to biologics the Hatch-Waxman standards that are currently used to approve generics for chemical compounds. It would be helpful if some provisions in the bill -- such as 'evergreening' -- which unnecessarily delay the entry of biogenerics were reconsidered. CBO acknowledges that the 'evergreening' issue will present significant problems beyond the ten-year scoring window."

CBO estimates that:

-- Enacting S. 1695 would reduce total expenditures on biologics in the

United States Hidden List by $25 billion over the 2009-2018

period.

-- Enacting the bill would reduce budget deficits (or increase surpluses)

by a total of $6.6 billion over the 2009-2018 period.

Unlike conventional drugs, there is no clear regulatory process where biogenerics can be approved by the FDA. PCMA was joined by a number of influential consumer, employer, and insurer groups who endorsed the "Access to Life Saving Medicine Act of 2007," bipartisan legislation that seeks to create a clear regulatory pathway for biogenerics.

PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for more than 210 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D.


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Amgen and Genentech Brace Themselves for Heavy Pressure From Biogenerics Manufacturers
2. Biogenerics Will Save Billions, Says Hospira CEO
3. Entry of Biogenerics and Decreasing Use of Amgens Epogen and Johnson & Johnsons Procrit Will Cause a $2.8 Billion Decline in the Drug Market for Chemotherapy-Induced Anemia by 2016
4. Coalition for a Competitive Pharmaceutical Market Launches New Print Ad Campaign Highlighting Need for Meaningful Biogenerics Legislation
5. Op-Ed: The NBAF Would Build on Kansas Existing Strengths in Bioscience
6. Forest Laboratories Announces Federal Appeals Court Upholds Lexapro(R) Patent Decision
7. Federal Trade Commission Clears Kyphons Acquisition of Non-Vertebroplasty Spine-Related Assets of Disc-O-Tech
8. NIH Announces Advanced Cell Technologys Single Cell Embryo Biopsy Technique as a Means to Derive Embryonic Stem Cells to be Considered for Federal Funding
9. Zimmer Announces Settlement of Federal Investigation
10. DelSite Nasal Powder Technology Could Reduce Recently Reported Waste in Federal Vaccine Program
11. Federally-Funded Study Shows More Women Can Avoid Hysterectomy for Common Problem
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... 2017 , ... ComplianceOnline’s Medical Device Summit is back for its 4th year. ... San Francisco, CA. The Summit brings together current and former FDA office bearers, regulators, ... government officials from around the world to address key issues in device compliance, quality ...
(Date:10/11/2017)... and LAGUNA HILLS, Calif. , ... of Cancer Research, London (ICR) and ... with SKY92, SkylineDx,s prognostic tool to risk-stratify patients with multiple ... as MUK nine . The University of ... is partly funded by Myeloma UK, and ICR will perform ...
(Date:10/11/2017)... ... October 11, 2017 , ... ... granted orphan drug designation to SBT-100, its novel anti-STAT3 (Signal Transducer and Activator ... osteosarcoma. SBT-100 is able to cross the cell membrane and bind intracellular STAT3 ...
(Date:10/10/2017)... ... October 10, 2017 , ... ... FirstHand program has won a US2020 STEM Mentoring Award. Representatives of the FirstHand ... Excellence in Volunteer Experience from US2020. , US2020’s mission is to change the ...
Breaking Biology Technology:
(Date:4/4/2017)... April 4, 2017   EyeLock LLC , a ... the United States Patent and Trademark Office (USPTO) has ... the linking of an iris image with a face ... represents the company,s 45 th issued patent. ... very timely given the multi-modal biometric capabilities that have ...
(Date:3/30/2017)... March 30, 2017 The research team of ... three-dimensional (3D) fingerprint identification by adopting ground breaking 3D fingerprint minutiae ... realm of speed and accuracy for use in identification, crime investigation, ... cost. ... A research ...
(Date:3/28/2017)... The report "Video Surveillance Market ... Storage Devices), Software (Video Analytics, VMS), and Service (VSaaS, ... to 2022", published by MarketsandMarkets, the market was valued ... to reach USD 75.64 Billion by 2022, at a ... year considered for the study is 2016 and the ...
Breaking Biology News(10 mins):