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)