Biosimilar Medication and You

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Replacing Chemicals with More Natural Remedies and Showing Great Promise.

Biological Medicine is on the rise and it seems to be promising. What has always been true of nature is that there is always a remedy available but using it effectively and resourcefully is the key to its overall usefulness and availability.

Biological Medications are becoming more viable every day so if you start to hear these terms, take a look it could wind up saving money and peace of mind with a more natural option.

Biosimilar Drugs are not new. They were approved back in 2006 but similar to generic drugs the patent on the original must be up before manufacturing can begin. These medications will make the biggest impact initially toward chronic illnesses, cancer, cardiovascular, and respiratory conditions where the drug prices are traditionally higher, as more research is completed there will be more advances made toward more natural options instead of the chemically made generics.

If you have questions regarding Biological Medicine and how your Medicare coverage pays for them, please contact us at 1-855-65-YEARS.

Natural cold and flu home remedies versus synthetic pills and drugs, top view
Biosimilars vs. Generics and Name Brands

How do Biosimilars stack up to Generics and Name Brands?

  1. The Biologics Price Competition and Innovation Act along with the FDA ensure that each of these biosimilar options is consistent in the chemical identity, purity, and efficacy. There is to be NO disparity in clinical trials from the reference medication.
  2. Cost like with all drugs will vary but trends are showing biosimilar options to be very competitive. On average 15% to 20% cheaper than name brands. This is because of the readily available resources and the lack of manufacturing of chemicals that must take place before name brands can be produced. This in itself cuts costs.
  3. Generic drugs reach the market within 2 and 3 generally, biosimilar drug needs between 6 and 8 years in order to reach the market. This long timeline for biosimilars is due to the numerous studies necessary for their authorization, which include safety and efficacy studies in comparison with reference branded drugs.

Since these ideas have been in the works since 2006 you can rest assured that there will be a swell in interest in the new options. These could be a great alternative for drugs that are too expensive or have a negative reaction to your body. You should ALWAYS consult your healthcare professional before considering changing any prescribed medication but these new options could be for you.

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Justin Brock

President & CEO of Bobby Brock Insurance