Digital health company Waltz Health is joining forces with drugmaker Fresenius Kabi to expand its direct-to-employer biosimilar program. The partnership gives commercial employers, health plans, and pharmacy benefit managers access to transparent, flat-fee pricing for three biosimilars — interchangeable with the blockbuster drugs Humira, Stelara, and Actemra — spanning rheumatology, dermatology, and gastroenterology.

This marks Waltz's first biosimilar expansion beyond its initial GLP-1 partnership with Novo Nordisk and Eli Lilly, which launched earlier this year. Through its Waltz Connect platform, members can access medications while bypassing traditional wholesaler or rebate-based PBM contracts — without sacrificing the clinical and patient support services typically offered by specialty pharmacies.

Key Takeaways:

• Waltz applies a transparent, pre-disclosed flat fee, with final costs varying by pharmacy fees and benefit design
• A core appeal for manufacturers like Fresenius: confidence that discounts are actually passed on to patients, not absorbed elsewhere in the supply chain
• Waltz is eyeing future expansion into oncology, migraine medications, and cardiometabolic care

Why it matters: As drug affordability remains a top concern for employers and patients alike, direct-to-payer models like this one offer a potential path to cutting costs and simplifying access — without overhauling the entire benefits structure.