Market Overview

Vizient to Present at FDA Hearing on the Biosimilar Marketplace


announces that Steven Lucio, PharmD, BCPS, associate vice president,
pharmacy services, will present on behalf of the company and its member
hospitals at the Food and Drug Administration's (FDA) public hearing "Facilitating
Price Competition and Innovation in the Biological Products Marketplace
being held from 9 a.m. to 5 p.m. today. The hearing will focus on
providing feedback to FDA on how to facilitate greater availability of
biosimilar and interchangeable products while retaining the balance
between competition and innovation that Congress intended to achieve
under the BPCI Act.

The Biologics
Price Competition and Innovation Act of 2009
(BPCIA) created an
abbreviated licensure pathway for biological products shown to be
biosimilar to, or interchangeable with, an FDA-licensed biological
reference product. The BPCIA was intended to balance innovation and
consumer interests.

"Vizient fully endorses the scientific principles of biosimilarity and
its pathway as critical mechanisms to mitigate the accelerating growth
of pharmaceutical expenditures through the development and marketing of
follow-on biologics of comparable safety, purity, and potency," said Lucio.
"Based upon our experiences, and more importantly that of the diverse
membership of health care providers, we have accumulated a wealth of
insight and we are excited to have this opportunity to address the
questions presented by FDA."

Since 2010, Vizient has provided ongoing training and education on the
biosimilar paradigm to its membership in the form of over 200 in-person
presentations and web conferences, has developed evidence based clinical
resources to support members in their formulary evaluations of approved
and pending biosimilars, and has worked with existing and future
biosimilar manufacturers on contractual relationships to maximize the
value and cost savings opportunities for our membership. At present,
Vizient has over 50 pharmacist and other subject matter expert resources
working to facilitate the appropriate use of biosimilars and document
the financial value and sustained high quality care associated with
these agents.

Vizient is the nation's largest health care performance improvement
company serving a diverse membership that includes academic medical
centers, pediatric facilities, community hospitals, integrated health
care delivery networks and non-acute health care providers.

To watch the hearing on a live stream webcast, go to:

About Vizient, Inc.

Vizient, Inc., the largest member-driven health care performance
improvement company in the country, provides innovative data-driven
solutions, expertise and collaborative opportunities that lead to
improved patient outcomes and lower costs. Vizient's diverse membership
base includes academic medical centers, pediatric facilities, community
hospitals, integrated health delivery networks and non-acute health care
providers and represents approximately $100 billion in annual purchasing
volume. The Vizient brand identity represents the integration of VHA
Inc., University HealthSystem Consortium and Novation, which combined in
2015, as well as MedAssets' Spend and Clinical Resource Management (SCM)
segment, including Sg2, which was acquired in 2016. In 2018, Vizient
again received a World's Most Ethical Company designation from the
Ethisphere Institute. Vizient's headquarters are in Irving, Texas, with
locations in Chicago and other cities across the United States. Please
as well as our newsroom,
and YouTube
pages for more information about the company.

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