New Formulary Strategy Advances Biosimilar Adoption and Affordability
MILWAUKEE, WI / ACCESSWIRE / June 12, 2024 / Serve You Rx, a full-service pharmacy benefit manager (PBM) known for its unquestionable flexibility and unwavering commitment to doing what's best for its clients, today announced the launch of its new Biosimilar Advantage Formulary. This formulary strategy, designed to accelerate the adoption of biosimilars, positions selected biosimilars with lower upfront costs as preferred treatments while holding reference brands as excluded or non-preferred.
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Despite the potential for significant cost savings, the adoption of biosimilars in the United States has been slow. A recent report by the IQVIA Biosimilars Council found that while uptake of the biosimilar for the popular specialty drug Humira is increasing, biosimilars only capture ~2% of new-to-brand prescriptions and have experienced slow switching rates among established patients. The Biosimilar Advantage Formulary aims to address this by promoting the use of biosimilars and making them more accessible to plan members.
"With the Biosimilar Advantage Formulary, we're offering a solution to accelerate the adoption of biosimilars," said Justin Jasniewski, CEO of Serve You Rx. "By promoting the use of these products through preferred formulary positioning, we can help our clients realize the upfront savings associated with biosimilars while ensuring member access to these important therapies."
The Biosimilar Advantage Formulary enhances affordability for plan members by leveraging the lower list prices of biosimilars. The formulary is structured by carefully evaluating FDA-approved indications, pricing, available rebates, and other key attributes.
"We're committed to helping our clients navigate the evolving pharmaceutical landscape," said Ted Boylan, PharmD, President of Serve You Rx. "The Biosimilar Advantage Formulary is our solution to address the slow adoption of biosimilars in the market. It's a testament to our focus on delivering strategies that empower our clients to make the best choices for their unique needs."
Launching the Biosimilar Advantage Formulary is another example of Serve You Rx's dedication to keeping pace with industry trends and delivering flexible, cost-effective pharmacy benefit solutions. With over 37 years of experience and a client-centric approach, Serve You Rx continues to set the standard for exceptional service and value in the PBM space.
About Serve You Rx
Serve You Rx is a full-service pharmacy benefit manager (PBM) with unquestionable flexibility and an unwavering commitment to doing what's best for its clients. With a fervent focus on those it serves, including insurance brokers, consultants, third-party administrators, and their clients, Serve You Rx delivers exceptional service and tailored, cost-effective benefit solutions. Independent and privately held for over 37 years, Serve You Rx can implement new groups in 30 days or less and say "yes" to a wide variety of viable solutions. Known for its adaptability, quality, and client-centricity, Serve You Rx aims to be a benchmark for better client service.
Contact Information
Nancy Fleming
Marketing Director
nfleming@serveyourx.com
414-410-8164
SOURCE: Serve You Rx
View the original press release on newswire.com.
