Biosimilars

The biosimilars industry is proving that market competition works to drive down drug costs and increase patient access to medicines. According to recent data from IQVIA, savings from biosimilars increased over 800% from 2018 to 2020, from under $900M in 2018 to $7.9B in 2020¹. These savings are projected to reach over $30B annually by 2022, and collectively will save the U.S. health care system $133B from 2021 to 2025².

U.S.

After skin cancer, breast cancer is the most common type of cancer in women. Researchers today have a better understanding of breast cancer than ever before, and there are more and better treatments available, but the need remains significant for competitive alternatives in cancer medications.

Since the first biosimilar launched in the U.S. market five years ago, the U.S. Food and Drug Administration (FDA) has approved 29 total biosimilars to treat diseases such as cancer and autoimmune conditions. Almost two-thirds of those products are commercially available to America’s patients.

In 2020, cancer claimed the lives of 600,000 Americans. According to the American Cancer Society (ACS CAN), there are approximately 1.7 million new cases of cancer in the United States each year, and more than 16.9 million Americans have a cancer history.