11 March 2020 - HHS Secretary Alex Azar discussed the future of biosimilars in the United States and the actions taken to ensure reductions in healthcare and prescription drug costs at the Biosimilars: Breaking Through the Barriers symposium in Washington, DC.

Despite discouraging numbers and challenges, hope that biosimilars will cut total healthcare costs has been amplified by recent HHS actions according to Secretary Alex Azar, at the Biosimilars: Breaking Through the Barriers symposium in Washington, DC.

Forty percent of US prescription drug spending is on biologics, although these represent just 2% of all drugs on the market. In addition, there is only 1 biosimilar product that has a greater market share than the reference product, symposium participants noted.

Read Center for Biosimilars article