HHS Secretary and CMS Administrator Comment on Biosimilar Payment Provision in Inflation Reduction Act

Last week, two statements were released by Xavier Becerra of the US Department of Health and Human Services (HHS) and Chiquita Brooks-LaSure, Administrator of the Centers for Medicare and Medicaid Services (CMS). Becerra spoke about the efforts to reduce healthcare costs for Americans, while Brooks-Lasure talked about how the Inflation Reduction Act will target the biosimilars industry.

According to Brooks-Lasure, “CMS is swiftly implementing the historic Inflation Reduction Act to make the new law and the benefits it provides a reality for the people we serve. The temporary Medicare Part B payment increase for qualifying biosimilars that is now in effect will foster competition in the drug marketplace for conditions such as diabetes, cancer, and immune disorders, and will improve access to these life-saving medicines that help keep people with Medicare healthy”

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(Source: HHS, October 3^rd, 2022)