In 2010, Congress established the regulatory pathway which ultimately led to the first FDA-approved biosimilar becoming available five years later. Since then, over 30 biosimilars have been approved and over 20 are now available to patients.
Because biosimilars are significantly more affordable than brand-name biologics, their growing accessibility has generated significant savings for patients and the health care system. In fact, biosimilars created more than $12 billion in savings from 2015-2020, and are projected to generate over $130 billion by 2025.
However, market and regulatory barriers are hindering greater biosimilar uptake and adoption, meaning many patients are unnecessarily paying for costlier brand medicines. View this infographic to learn more about three legislative proposals that will reduce barriers and help biosimilars reach their full potential for patients.