Medicare Part D plans can substitute interchangeable biosimilars for their reference drugs on formularies immediately on approval and can make mid-year formulary substitutions for non-interchangeable biosimilars as long as they give beneficiaries 30-days’ notice, according to the Centers for Medicare and Medicaid Services final rule.
Biosimilar Substitution In Medicare Part D Formularies Mid-Year Established In Final Rule
Policy may be helpful in promoting acceptance of follow-ons in Medicare but is not expected to result in near-term savings to the program.
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The development could highlight the power of competitive market forces over government price controls or suggest Medicare price negotiation is enhancing competitive market forces.
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The development could highlight the power of competitive market forces over government price controls or suggest Medicare price negotiation is enhancing competitive market forces.