The Generic Medicines Industry Association (GMiA) welcomes the decision of the Pharmaceutical Benefits Advisory Committee (PBAC) to consider “a” flagging of biosimilars, and to list biosimilar insulin (Basaglar®) on the Pharmaceutical Benefits Scheme (PBS). Basaglar is the first biosimilar insulin to be approved in Australia, providing an alternative, affordable treatment option for patients suffering from diabetes.

A biosimilar is a biological medicine that is approved to be comparable in quality, safety, and efficacy to the reference biological medicine following a full evaluation by the Therapeutic Goods Administration (TGA). Biosimilars offer therapeutically equivalent and more cost-effective alternatives to existing, high-cost biological medicines.

“Australian patients are now able to benefit from more affordable biosimilars and, as a result of competition, the PBS savings expected to be generated from biosimilars can provide an opportunity to improve patient access to life-changing medications,” said GMiA CEO Belinda Wood.

For more details, go to: http://www.gmia.com.au/gmia-welcomes-the-pbac-consideration-of-a-flagging-biosimilars-and-the-pbs-listing-of-the-first-biosimilar-insulin/