Lawmakers preserve competition to keep prescription drugs affordable for Floridians
Health care and prescription drug costs are already too high, which is why it is so important that Florida continues to protect access to more affordable treatment options. I want to thank our state lawmakers for amending SB 1760 to ensure that generic and biosimilar prescription options remain available to the millions of Floridians who rely on them.
Generic and biosimilar medications are the primary drivers of lower prescription drug costs in our state. These affordable alternatives are essential to maintaining a competitive marketplace, and the changes made to SB 1760 help ensure these options remain accessible to patients.
Biologic drugs treat some very complex diseases and are some of the most expensive drugs on the market. Biosimilar drugs have introduced competition into this market. The financial impact of biosimilar drugs is undeniable, having saved $20.2 billion for the American health care system in 2024 alone. Early versions of SB 1760 put access to these important cost-saving drugs at risk. But legislators agreed with patient advocates that preserving competition in the prescription drug marketplace helps protect Floridians, employers, and plan sponsors from higher costs and ensures that patients continue to benefit from lower-cost treatment options.
This approach also aligns with the broader national focus on lowering prescription drug costs through greater competition. President Trump has consistently emphasized the importance of reducing drug prices and expanding access to more affordable alternatives. His administration has encouraged greater use of generic and biosimilar medicines to drive savings for patients and government-funded health programs alike.
Recognizing that competition is the most effective way to lower costs, the President’s efforts have helped expand access to biosimilars and strengthen the prescription drug marketplace. The final version of SB 1760, as passed by the Florida Legislature, reflects that same commitment to prescription drug competition and affordability.
By amending this legislation, Florida policymakers demonstrated their commitment to putting patients first, supporting innovation and competition, and maintaining affordable and accessible prescription options. These actions will help keep costs down and improve access to care for families across our state.
On behalf of more than 600,000 Hispanic-owned businesses and their employees, I thank the bill’s sponsor and the Legislature for standing with patients and protecting access to these important drugs.
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Julio Fuentes is president and CEO of the Florida State Hispanic Chamber of Commerce (FSHCC), representing more than 604,000 Hispanic-owned businesses across Florida.