biosimilars

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.

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.