Biologic medicines have significantly improved treatment options for patients with serious conditions such as cancer and autoimmune diseases. However, the intricate processes involved in their development and manufacturing, combined with the current regulatory and market landscape, have escalated costs, making these essential therapies inaccessible to many.
Biosimilars present a viable solution to this issue, offering a more cost-effective alternative that has positively impacted millions of patients globally since their inception nearly two decades ago. Despite this progress, the development timeline for biosimilars remains lengthy, typically spanning six to nine years, with associated costs ranging from $100 million to $300 million per candidate. Furthermore, a concerning ‘biosimilar void’ has emerged, as numerous biologics that are nearing the end of their patent protection lack corresponding biosimilar candidates in development, potentially limiting patient access to affordable treatment options.
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