Biosimilar drugs could generate $38.4 billion in savings over five years, study finds
Biosimilar drugs could drive down prices for expensive medicines used to treat illnesses such as cancer and rheumatoid arthritis, with savings estimated to be $38.4 billion or 5.9% of projected total US spending on biologics from 2021 to 2025, according to a new RAND Corporation study.
More aggressive biosimilar uptake and competition could trigger larger cuts, with savings estimated to be as large as $124.5 billion from 2021 to 2025 under the most-optimistic scenario.
The study estimates that most of the expected savings from biosimilars would be caused by downward pressure on the brand-name biologics they compete with, rather than lower biosimilar prices. The findings are published by the American Journal of Managed Care.
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