Biosimilars, biologic generics, hold substantial promise in expanding access to lifesaving biologics, but growth has taken a while to ramp up. With 100 biosimilars currently in the pipeline, the industry may be set up for rapid growth in the next two years. With the potential influx of new biosimilars that are significantly cheaper than their reference drugs, patients could collectively save $100 billion in the next 5 years.
According to Perry Venugopal, “In one study, patients saved approximately $665 with a biosimilar versus a reference biologic compared to $86 in savings for generics compared to their reference drug. And with over half of patients in the last year giving up medications to pay for essential items, hundreds of dollars in savings could bring to life benefits beyond medications.”
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(Source: CoverMyMeds Insights, July 8th, 2022)