Cost-Effective Insulin Glargine Biosimilar Could Upend Reference Diabetes Drug; McKinsey Estimates Biosimilar Market Will Hit $30 Billion by 2025

The Food and Drug Administration (FDA) recently approved Semglee, an insulin glargine biosimilar product. Compared to reference drug Lantus, the product could lead to substantial savings for consumers as a growing number of biosimilars enter the market. Biosimilars and biologics lead to savings between 10 and 37%. Despite these economic savings, the US market poses several barriers that limit the use of biosimilars such as Semglee.

“But compared to Europe, where biosimilars are readily available as low-cost alternatives, the U.S. has been slow in adopting such products because of regulatory bureaucracy, stigmas around safety, and anti-competition deals struck by pharma giants.” Read more here.

(Source: Claire Bugos, Verywell Health, 8/20/21)