Innovations in technology and science are changing the way health care is delivered every day, with advancements in treatment and prevention options helping improve outcomes while lowering costs.
Biosimilars, medical products that are highly similar to other already approved biological medicines, provide perhaps one of the best opportunities we’ve seen in lowering drug costs. They can offer cheaper options to drugs that are traditionally more costly, with no clinically meaningful differences in safety, purity, and potency.
While biosimilars have been met with challenges over the past five years, we now seeing positive momentum with the biosimilars market. More than half of biosimilars launched in the United States were taken to market in the past year, with three competing against anti-cancer-drug heavyweights, and a handful of big brand and generic manufacturers are now getting into the market with biosimilar programs of their own.
Rich recently authored a piece on Forbes, highlighting the exciting potential of biosimilars for both PBMs and patients. You can read that article here. And, for more of Rich’s views on biosimilars, watch below.