With biologic costs zooming, it's time for biogenerics to be approved, says Hospira CEO.
When lifesaving drugs are not affordable, regardless of their safety and efficacy, they are irrelevant. With this being the case, it only makes sense for a pathway to be created so that biogenerics can be approved. That's the gist of Hospira CEO and chairman Christopher Begley's keynote address before the Generic Pharmaceutical Association's annual policy conference in Washington, D.C., early this month. Begley noted that biologics are accounting for an increasingly disproportionate share of the nation's healthcare spending, with some treatments costing up to $200,000 annually. He concluded, "The creation of a biogenerics market should not be a divisive issue. It's about healthy competition and safe, affordable options. It's about doing the right thing for patients and the nation." ce of a drug and eliminate the "shell game" that once ran rampant in the PBM market.