SmithRx Adds Stelara Biosimilars, Projecting $14.5M Savings
SmithRx, a transparent and fully pass-through modern pharmacy benefits manager (PBM), has announced a significant expansion of its Connect 360 Autoimmune Program. This initiative includes the introduction of Stelara biosimilars, new low-cost Humira and Stelara biosimilars tailored for pediatric patients, and a strategic partnership with Costco Specialty Pharmacy to further enhance affordable access to essential medications. These advancements, in combination with SmithRx’s long-standing collaboration with Mark Cuban Cost Plus Drugs, underscore the company’s ongoing commitment to lowering prescription drug costs for employers and employees nationwide.
Expanding Access to Cost-Effective Biosimilars
As part of the expanded Connect 360 Autoimmune Program, SmithRx is focused on increasing the adoption of biosimilars, particularly for Stelara (ustekinumab), a widely prescribed medication for autoimmune conditions such as plaque psoriasis, Crohn’s Disease, ulcerative colitis, and psoriatic arthritis. By facilitating employer groups’ transition to biosimilars, SmithRx projects an annual savings of approximately $14.5 million. Individual employees could experience savings of up to $155,000 per year, making Stelara biosimilars a game-changer for those reliant on high-cost biologics.
Biosimilars are highly similar to existing biologic drugs, offering comparable safety, purity, potency, and efficacy while significantly reducing costs. By integrating these alternatives into employer-sponsored health plans, SmithRx aims to reshape the pharmaceutical landscape and redefine affordability for autoimmune treatments.
Commitment to Lowering Prescription Costs
“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, Senior Vice President of Clinical Strategy at SmithRx. “Leveraging our drug pathways engine, we connect patients with innovative, cost-saving alternatives like biosimilars. Our technology, combined with a hands-on service approach, is revolutionizing the perception that prescription benefits must be expensive and overly complicated. Since launching Connect 360 Autoimmune in 2023, we’ve successfully transitioned over 90% of our members to Yusimry, a Humira biosimilar, and lowered Humira-related spending by 90% for employer groups.”
Key Additions to the Connect 360 Autoimmune Program
Beyond the Stelara biosimilar expansion, SmithRx is introducing two new elements to enhance affordability and accessibility:
- Partnership with Costco Specialty Pharmacy
- SmithRx is expanding its collaboration with Costco Specialty Pharmacy, adding another trusted source for low-cost biosimilars.
- Alongside its existing partnership with Mark Cuban Cost Plus Drugs, this alliance strengthens SmithRx’s ability to offer members access to deeply discounted prescription options.
- Both Costco Specialty Pharmacy and Cost Plus Drugs provide members with $0 copays and no shipping fees, further reducing out-of-pocket expenses for autoimmune medications.
- New Low-Cost Biosimilars for Pediatric Patients
- Recognizing the unique needs of pediatric patients, SmithRx is introducing specialized biosimilar options for Humira and Stelara.
- These pediatric-friendly biosimilars, available through Costco Specialty Pharmacy, ensure that children and adolescents under the age of 18 receive necessary autoimmune treatments at an affordable cost.
How the Connect 360 Autoimmune Program Works
SmithRx’s Connect 360 programs leverage advanced technology to proactively assist members in identifying the most cost-effective yet clinically effective medications available. This initiative focuses on:
- Biosimilar Adoption: Encouraging the use of biosimilars by demonstrating their equivalency to brand-name biologics in terms of safety and effectiveness.
- Direct Cost Savings: Helping employer groups and employees transition to lower-cost alternatives, reducing financial burdens associated with autoimmune treatments.
- Seamless Access: Ensuring convenient access to biosimilars through strategic pharmacy partnerships, minimizing logistical barriers for patients.
By expanding its suite of biosimilar solutions, SmithRx aims to continue lowering pharmacy costs for employer groups while maintaining high standards of care for members managing complex autoimmune conditions.
The Broader Impact of SmithRx’s Initiative
The rising costs of specialty medications, particularly biologics, have posed a significant challenge for both employers and employees in managing healthcare expenses. SmithRx’s approach represents a transformative shift in the industry, challenging traditional PBM models that often introduce unnecessary markups and fees. By operating as a 100% pass-through PBM, ensures that all cost savings are directly passed on to employers and their employees.
With the continued expansion of the Connect 360 Autoimmune Program, remains dedicated to increasing access to high-quality, affordable treatments while driving innovation in pharmacy benefits management.
For more information about Connect 360 programs and how they are helping to lower prescription drug costs for employer groups, 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.
