[News] The coming revolution in much cheaper life-saving drugs | Medication Health News

The coming revolution in much cheaper life-saving drugs | Medication Health News.

From the 22 January 2015 post

Recently the FDA has approved the first “biosimilars” to be available in the United States.  In order for a drug to be considered biosimilar, the law requires that the copycat drug is “highly similar” to the reference drug, and does not have “clinically meaningful” differences. Biosimilar drugs will offer lower-cost competition as they tend to cost between 20 – 30 % less than the original branded drug. According to the Federal Trade Comission, Biosimilar products are estimated to take 8 to 10 years to develop and will cost the manufacturers up to $200 million to produce.With this new class of drugs, patients will be able to save thousands on their medications. Has your company/employer began exploring the budgetary effects of biosimilars? How will this new class of biosimilars affect health care spending in the US?

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