PBMs have been strong proponents in the creation of an U.S. Food and Drug Administration (FDA) pathway to approve generic versions of expensive biological drugs that treat conditions like Alzheimer's, rheumatoid arthritis and multiple sclerosis. So-called biogenerics legislation that doesn’t grant brand name drug manufacturers monopoly pricing power is strongly supported by PBMs, AARP, AFL-CIO, the Ford Motor Company, and dozens of other consumer, labor and employer organizations concerned about runaway health care costs in both the private and public sector. A recent Federal Trade Commission (FTC) found that patents for biologic products already provide enough incentives for innovation and that additional periods of exclusivity would “not spur the creation of a new biologic drug or indication” and “imperils” the benefits of the approval process.
Adapted from the Wikipedia article Pharmacy benefit management, under the G. N. U. Free Documentation License. Please also see http://en.wikipedia.org/wiki
Pharmacy benefit management – Biogenerics
PBMs have been strong proponents in the creation of an U.S. Food and Drug Administration (FDA) pathway to approve generic versions of expensive biological drugs that treat conditions like Alzheimer's, rheumatoid arthritis and multiple sclerosis.
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