Fayetteville Today

U.S. Representative Richard Hudson (R-NC) has announced that his bipartisan legislation, the Increasing Access to Biosimilars Act of 2023, has successfully cleared the House Energy and Commerce Committee. The legislation aims to improve Medicare access to affordable prescription drugs by expanding the availability of biosimilar biological products. Its focus is on broadening medication choices for Americans grappling with escalating healthcare costs.

In a press release from Hudson's office, he stated: "Americans deserve every option for affordable prescription drugs. That is why I stopped at no end to get this bill through the Committee by working with my colleagues across the aisle and negotiating the best opportunities to provide affordable medicines. I look forward to continuing to move this bill all the way to the President’s desk."

As per H.R. 1352, also known as the Increasing Access to Biosimilars Act of 2023, the legislation intends to assess the benefits of introducing a shared savings payment approach for biosimilar biological products. The bill includes provisions for voluntary provider participation, additional payments for biosimilars, and mandates comprehensive reports to Congress. These reports will evaluate the project's effectiveness and may recommend its expansion or extension, providing insights into enhancing access to biosimilar products within Medicare.

The Food and Drug Administration (FDA) explains that biosimilar medications are highly similar versions of already FDA-approved biologic drugs, known as reference products, with no clinically meaningful differences in safety or effectiveness. They are created from identical sources as their reference products such as living cells or microorganisms, ensuring comparable safety, dosage, and treatment benefits. These medications fall under a broader category of biological products that are complex in composition and typically derived from natural sources like living cells or microorganisms. Rigorous studies demonstrating their equivalence in safety and efficacy to their original counterparts are required for these medications.

According to Hudson's official website, Hudson has been serving since 2013 and currently represents North Carolina’s 9th Congressional District, serving on the Energy and Commerce Committee. The 9th District covers areas within Chatham, Cumberland, Harnett, Hoke, Lee, Moore, Randolph, Richmond, and Scotland Counties in North Carolina.