RAND projects $44.2 billion reduction in U.S. spend on biologics over the next decade from introduction of biosimilars

November 03, 2014 – Today the RAND Corporation projected that the introduction of biosimilar drugs in the US will reduce direct spending on biologics by USD 44.2 billion from 2014 to 2024. Currently there are no biosimilars approved by the FDA for use in the US. Products submitted for review by FDA through the Biologics Price Competition and Innovation Act pathway are developed with highly similar quality, safety and efficacy to marketed biologics, but they come at a lower price. A biosimilar will be approved if …

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