WASHINGTON, D.C. — A new report from the IQVIA Institute for Human Data Science has determined that biosimilars are on track to reduce drug costs by $100 billion over the next five years if their use rises. The future of this lower-cost drug market, however, is still uncertain.

According to the report, three recently-launched biosimilars may reach 60 percent volume share by the end of their second year on the market, which would generate an estimated $80 billion in savings in the next five years, including $16-36 billion in 2024 alone. Click here to read the full article.

The Biosimilars Forum is a nonprofit organization incorporated in Washington, DC, created to advance biosimilars in the United States with the intent of expanding access and availability of biological medicines, and improving health care. The Biosimilars Forum provides evidence-based information to inform and support public policies that encourage awareness, access, and adoption of biosimilars.

Biosimilars Could Generate $100 Billion in Savings Over Next Five Years, New Report Finds