Will the IRA hinder the potential of Biosimilars?

The biosimilar marketplace in the American healthcare system has led to $21 billion in savings over the past 6 years. Since 2015, 42 biosimilars have been approved and 38 launched, driving competition and reducing prices for reference products. However, the Inflation Reduction Act (IRA) threatens this progress by discouraging biosimilar development. This undermines potential savings and hinders innovation. This issue brief outlines the efforts needed to mitigate the effects of this legislation and fully realize the benefits of biosimilars.

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