Historic FDA Approval May Help Lower Drug Costs

AARP applauds the FDA’s approval of the first biosimilar prescription drug product in the U.S. It is a welcome step toward a workable approval process that will provide consumers with much-needed access to safe, effective biosimilar drugs, as envisioned by the Biologics Price Competition and Innovation Act in the Affordable Care Act. Today’s announcement marks the beginning of what AARP hopes will be a robust market that will offer consumers access to lower-cost alternatives to very expensive biologic medicines, such as those …

FTC Raises Concerns About Efforts to Blunt Rx Competition

Biologic drugs are often used to treat health conditions that affect older populations – diseases such as cancer, multiple sclerosis and rheumatoid arthritis. Derived from living organisms, biologics have an estimated average cost of $35,000 a year, which is far more than that of traditional, chemically derived drugs. Congress recently granted the Food and Drug Administration (FDA) authority to approve less expensive generic versions of biologic drugs, known as biosimilars or follow-on biologics. But while the FDA continues to work …

State Laws Could Hamper Savings from Biosimilar Drugs

  Many consumers have benefited from the recent increase in brand-name drugs that are going off patent, allowing less expensive generic drugs to enter the market.  The same may happen with a new type of drugs known as biologics – but only if the generic versions of these drugs are allowed to reach consumers. Biologic drugs are medicines derived from living organisms that are often used to treat health conditions that commonly affect older populations, such as cancer, multiple sclerosis …