A low-cost new insulin may benefit insurers over patients
Mylan, famous for a yesteryear debacle over the cost of EpiPen, launched a biosimilar version of long-acting insulin at a price the company says is 65% cheaper than brand-name competition. But thanks to the labyrinthine process by which drugs are paid for in the U.S., the competition is likely better news for payers than patients.
As STAT’s Ed Silverman reports, Mylan’s product is a cheaper take on Lantus, a blockbuster insulin sold by Sanofi. Mylan’s discount is to the wholesale price, which means it would offer sizable savings to uninsured patients who pay out of pocket. But for the majority who have some form of insurance, the effect of the biosimilar is more complicated.
For decades, drug companies have offered more and larger rebates to insurance companies to ensure their medicines stay covered. With the entrance of Mylan’s low-cost insulin, payers will likely be able to extract even greater discounts from the major pharma companies that now dominate the market, experts said. That’s good for insurers’ bottom lines, but everyday patients might see little if any of the savings.
Read more.
As STAT’s Ed Silverman reports, Mylan’s product is a cheaper take on Lantus, a blockbuster insulin sold by Sanofi. Mylan’s discount is to the wholesale price, which means it would offer sizable savings to uninsured patients who pay out of pocket. But for the majority who have some form of insurance, the effect of the biosimilar is more complicated.
For decades, drug companies have offered more and larger rebates to insurance companies to ensure their medicines stay covered. With the entrance of Mylan’s low-cost insulin, payers will likely be able to extract even greater discounts from the major pharma companies that now dominate the market, experts said. That’s good for insurers’ bottom lines, but everyday patients might see little if any of the savings.
Read more.
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