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'Skinny labels' on biosimilar medicines saved Medicare $1.5 billion over a recent five-year period

Summary by Ground News
The provision is known as skinny labeling, which refers to a move by a company that seeks regulatory approval to market a generic or biosimilar medicine. By doing so, the company seeks to avoid lawsuits in which the brand-name manufacturer could claim patent infringement. Medicare saved $1.5 billion from 2015 to 2020, or nearly 5% of the $30.2 billion spent by the health care program.

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'Skinny labels' on biosimilar medicines saved Medicare $1.5 billion over a recent five-year period

Skinny labeling on biosimilar drugs saved Medicare $1.5 billion between 2015 and 2020 on just five medicines during that period.

·Boston, United States
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STAT broke the news in Boston, United States on Monday, November 28, 2022.
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