Promoting use of generics and biosimilars will be a particular focus of the group, which could save as much as $150 billion over the next decade. (Photo: Shutterstock)
First, there was Civica Rx, a coalition of hospitals and health systems intent on creating their own generic drugs to save on costs and combat supply shortages. But health systems aren't the only ones feeling the pain of high drug prices.
Joining the fight against high drug prices is Employers' Prescription for Affordable Drugs, aka, EmployersRx, a coalition of employer groups advocating for prescription drug price reform. Launched last fall, the group represents more than 500 employers. "Someone needs to represent the sector that is actually paying most of the bill," Bill Kramer, the executive director for national health policy at the Pacific Business Group on Health told STAT.
Related: An old idea to lower drug prices sees new life
The group, which includes National Alliance of Healthcare Purchaser Coalitions, Pacific Business Group on Health, ERISA Industry Committee and Silicon Valley Employers Forum, is advocating for public policy reforms aimed at increasing competition, price transparency and value and capping prices. Current legislation supported by EmployersRx includes the Lower Health Care Costs Act and the Preserve Access to Affordable Generics and Biosimilars Act.
"We know that there is recognition on both sides of the aisle that this is an issue, that this can't be ignored," Elizabeth Mitchell, the president and CEO of the PBGH told The Center for Biosimilars. "We know how powerful the pharma lobby is and we know how much effort they put into maintaining these prices."
Promoting use of generics and biosimilars will be a particular focus of the group, which could save as much as $150 billion over the next decade.
"There have been 17 biosimilars approved in the US that have been shown to have no clinical difference from their brand name counterpart, but only 7 have been launched and adoption has been sluggish," says Lauren Vela, senior director of member value at the PBGH.
The group's website also offers insights and case studies from other employers in their fights to control drug costs.
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Emily Payne
Emily Payne is director, content analytics for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
