FDA Accelerates Approvals for Biosimilars and Generic Biologic Drugs to Lower Healthcare Costs
In a significant move to combat high drug prices, the FDA is streamlining the approval process for biosimilars and generic biologic medicines. This initiative aims to make cheaper alternatives more accessible to consumers, potentially reshaping the pharmaceutical landscape in favor of lower costs. Recent actions include the elimination of clinical efficacy study requirements for biosimilars, making it easier for companies to bring these products to market. With the backdrop of an ongoing effort from federal health officials to promote competition and reduce expenses associated with costly medications, experts are optimistic about the impact of these changes on drug affordability.
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