The use of generic biotech medicines could save Marylanders a reported $1.388 billion over a 10-year period and an estimated $71 billion across the U.S., according to a report issued by St. Louis-based Express Scripts, one of the largest pharmacy benefit management companies in North America and a major prescription plan provider in Maryland.
Key to this cost savings are both the enactment of the Access To Life-Saving Medicine Act of 2007, sponsored by Sen. Hillary Clinton, D-N.Y., and others, and the release of federal guidelines by the Food and Drug Administration for generic biotech medicines.
Biotech medicines differ from traditional drugs in that they are derived from living sources such as humans, animals or microorganisms. Traditional drugs are synthesized in the lab. Spending for biotech medicines is expected to reach $90 billion in 2009 so both employers and patients are pushing the government for more affordable medications, according to a release.
