Summary: To require the Secretary of Health and Human Services to establish a demonstration project to increase access to biosimilar biological products under the Medicare program. (Cosponsors)
ANGIE CRAIG’S POSITION: Representative Craig Cosponsored the bill on 03/10/20.
- In March, I introduced bipartisan legislation with @RepCardenas & @RepBrianFitz to help reduce the cost of prescription drugs by encouraging competition and increasing access to biosimilars. (Source: Twitter)
STATUS: Introduced 03/10/20 by Rep. Cardenas, Tony [D-CA-29].
INFORMATION RELATED TO THE BILL:
- Biosimilar medicines are safe, effective and affordable versions of costly brand biologics for the treatment of cancer, rheumatoid arthritis and other complex diseases. Biosimilars are widely viewed as the next frontier for affordable medicines. By the year 2025, more than 70 percent of drug approvals are expected to be biological products. Experts estimate that biosimilars could save between $44 billion and $250 billion over the next 10 years. (Source: Association for Accessible Medicines)
- Unfortunately, even before the rapid onset of COVID-19, the American people were already struggling to pay for their needed medications. With the added strain from the pandemic, fears that the system could begin to buckle have grown. We can’t wait another day to act when it could mean lives on the line. Fortunately, Reps. Richard Hudson, Brian Fitzpatrick (R-Penn.), and Angie Craig (D-Minn.) recently put forward legislation that will reduce the current strain on the Medicare program through increasing competition and market forces. Their bill, the Increasing Access to Biosimilars Act (IABA), will create a three-year pilot program that allows the government and doctors to assess the benefits of making greater use of low-cost biosimilars for Medicare beneficiaries. (Source: Townhall)
Link to the text of the bill.
Link to bill information (support and opposition) on Countable.
Link to bill information on GovTrack.