FDA Accelerates Generic Biologic Approvals to Reduce Drug Costs
TL;DR Summary
The FDA announced plans to accelerate the approval process for generic biologic medicines, or biosimilars, to increase competition and reduce high drug prices in the U.S., which are significantly higher than in other countries. The reforms aim to cut the approval timeline in half, simplify studies, and remove barriers to market entry, potentially saving billions in healthcare costs and providing more affordable options for patients.
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- Federal health officials push effort to spur cheaper biotech drugs The Hill
- FDA to streamline approvals for generic biological drugs in latest move targeting health costs CNN
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