Biosimilars have the potential to bring significant savings to both patients and the entire healthcare system. Biosimilars increase competition in the marketplace, generally cost less to develop compared to originator biologics and can potentially open opportunities for additional research and investment in new innovator products.
With each biosimilar that receives approval, more options enter the marketplace for healthcare professionals and patients to choose from. This can naturally increase competition and lower costs for patients and payers.
The introduction of biosimilars promotes competition which can lead to lower costs for consumers and payers. This competition can also benefit the market by freeing up headroom for investment in new products and providing more treatment options for patients with serious illnesses.