8 August 2019 - The market for biologic drugs in the United States is large and growing.
Total US biologic sales in 2018 is estimated to have been $125 billion, an increase of 50% since 2014. Given widespread public interest in curbing drug costs and drug spending, policymakers and others are keenly interested in the viability of biologic market competition to reduce prices. Economists and health policy analysts, including the Congressional Budget Office, have estimated billions of dollars in future savings from biosimilars.
Since enactment of federal legislation and the finalisation of accompanying regulatory guidance to permit biosimilars to enter the US market, 23 biosimilars have been approved by the FDA and 9 have begun marketing in the United States.