Trade group warns stalled biosimilar development could forfeit billions in savings

A trade association that represents generic drug makers and biosimilar developers released a new report warning that progress on biosimilar products has slowed. The group says the slowdown threatens to erode substantial cost-saving opportunities for the healthcare system.

The analysis estimates that the shortfall in biosimilar development could translate into billions of dollars in lost savings for payers and patients. By not bringing more affordable biologic alternatives to market, the potential financial benefit is at risk.

The report urges industry stakeholders to accelerate research and development efforts to capture the projected savings, but it does not detail specific regulatory changes or timelines.