Reuters: CVS Health's Brennan believes biosimilars could bring about steeper price cuts

NEW YORK — On the heels of the Food and Drug Administration’s approval of the first biosimilar in the United States, CVS Health’s EVP and chief medical officer Troyen Brennan said in an interview with Reuters that the entry of copycat biotech drugs could cut prices of expensive medications by 40% to 50%.



According to the Reuters report, Brennan believes that biosimilar pricing could more closely follow the duel among branded drugs.  



“As a result of that, with these new ones coming on we are probably going to be seeing something that looks like more of a situation where there are multiple brands," Brennan was quoted as telling Reuters. "In the past that didn’t give you 98% discounts. In the past, that would give you 40% to 50% discounts."