New Biosimilars Forum Director Discusses Biosimilar Opportunities, Challenges

The Biosimilars Forum Board of Directors recently appointed Juliana M. Reed as its new executive director.

Reed, which brings more than 30 years of experience in the healthcare sector to the Forum, has served as the Biosimilars Forum president for more than eight years and was one of its original co-founders.

“I am extremely excited to lead the most influential organization for the biosimilars industry at such a critical time,” Reed said in a news release. “My top priority will be to work with our members, Congress and the FDA as a voice for our industry and patients. I will advocate for commonsense policy solutions that give more patients access to life-saving, lower-cost biosimilars.”

FormularyWatch® caught up with Reed to find out more about her goals for the Biosimilars Forum, along with the challenges and opportunities that biosimilars face.

FW: Congratulations on your new position. What is your vision for the Forum?

Reed: I am thrilled to lead the most influential organization for the biosimilars industry at such a critical time. My top priority will be to work with our members, Congress and the FDA as a voice for our industry and patients.

FW: Biosimilars have realized incredible growth in the past year. To what do you attribute the expansion?

Reed: I believe biosimilars are critical to lowering prescription drug prices in the US. Not only are FDA-approved biosimilars just as effective as and lower-cost than their reference biologics, but they also lower the price of biologics through increased competition.

FW: What are the primary challenges the industry still faces?

Reed: It is more important than ever that policymakers, providers, patients and the public recognize the efficacy, safety, and cost-saving potential of biosimilars. The Forum works to demonstrate the benefits of biosimilars through innovative research, education, and advocacy efforts, while simultaneously showing how biosimilars maintain the same safety and efficacy standards as their biologic counterparts.

FW: What are your legislative and policy priorities for the Forum in 2022?

Reed: The biosimilars market is projected to grow significantly over the next decade. The Forum will advocate for commonsense policy solutions that give more patients access to life-saving, lower-cost biosimilars.

It is critical that policymakers support biosimilars market with policies that remove anti-competitive barriers to biosimilar uptake and minimize disincentives, which together will promote access and lower prices.

Next week, I will speak to the House Committee on Energy and Commerce about user fees, which decrease the time it takes for new products to reach patients and health care providers. User fees help achieve faster approvals for drugs and will be a big focus for the Forum this year.

I strongly believe that biosimilars should be included on Medicare Part D formularies, which could save the health care system billions of dollars.