SmithRx is first PBM to meaningfully embrace biosimilars to drive savings for clients
SAN FRANCISCO–(BUSINESS WIRE)–SmithRx, a transparent, 100% pass-through modern pharmacy benefits manager (PBM), today announced a major expansion to its Connect 360 Autoimmune Program, including the introduction of Stelara biosimilars to its offering, new low-cost Humira and Stelara biosimilars for pediatric members, and a partnership with Costco Specialty Pharmacy alongside its long-standing relationship with Mark Cuban Cost Plus Drugs.
As a major component of the Connect 360 Autoimmune Program expansion, SmithRx will help employer clients and their employees adopt biosimilars, representing over 95% savings compared to Stelara (90 mg)’s list price of $35,000 per fill. Employer groups that leverage the biosimilar stand to save a projected $14.5 million annually, and their employees could see as much as $155,000 in annual savings per person – making the country’s sixth most popular drug by spending more accessible for individuals with plaque psoriasis, Crohn’s Disease, Ulcerative Colitis, and psoriatic arthritis.
“Our Connect 360 program was built because we saw a better way to generate real, tangible savings for our members and clients,” said Alan Pannier, SVP of Clinical Strategy at SmithRx. “Leveraging our drug pathways engine we are able to connect patients with the innovative drug alternatives on the market today, like biosimilars. Our technology coupled with unparalleled, hands-on service has allowed us to shatter the perception that prescription benefits have to be expensive and complicated. Since we rolled out Connect 360 Autoimmune in 2023, we’ve transitioned over 90% of our members to the biosimilar, Yusimry, and lowered Humira spend for clients by 90%.”
In addition to the introduction of the Stelara biosimilar, SmithRx will also launch two additional elements of the Connect 360 Autoimmune Program:
- Partnership with Costco Specialty Pharmacy: Alongside long-time partner Cost Plus Drugs – which has been instrumental in sourcing the lowest priced prescription options for SmithRx’s members – SmithRx is partnering with Costco Specialty Pharmacy. This partnership will offer members another resource for low-cost biosimilars. Both Costco Specialty Pharmacy and Cost Plus Drugs offer members $0 copays and no shipping fees, helping lower costs for SmithRx members even further;
- New low-cost Humira and Stelara biosimilars specifically for pediatric members: SmithRx will also offer low-cost biosimilars for pediatric members (those under the age of 18) for Humira and Stelara at Costco Specialty Pharmacy, ensuring younger members can access necessary autoimmune treatments and save.
SmithRx’s Connect 360 programs – supported by its technology – proactively assist members in identifying the least expensive yet clinically effective medication options available including biosimilars, drugs that are highly similar to an existing biological drug which have no clinically meaningful differences in terms of safety, purity, potency, and effectiveness. The Connect 360 Autoimmune Program brings SmithRx members with autoimmune diseases broad access to lower cost alternatives, including biosimilars producing significant savings for both individuals and employer groups.
To learn more about SmithRx’s Connect 360 programs and our work lowering pharmacy costs for employer groups, please visit www.smithrx.com.
About SmithRx
SmithRx is a modern PBM dedicated to reducing the cost and complexity of pharmacy benefits. The company empowers organizations of all sizes to take control of their pharmacy spend with a radically transparent, pass-through model, innovative cost-saving programs, and intuitive technology. Unlike legacy PBMs, SmithRx eliminates hidden fees, passes through 100% of rebates and discounts, and provides real-time prescription pricing and detailed savings reports. This gives clients the insights they need to make informed decisions and achieve meaningful savings for both their business and their employees. Experience the difference transparency, trust, and fairness can make in building a more equitable healthcare system. Learn more at www.smithrx.com.
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Media Contact
claire.schillings@smithrx.com
