Huge advances are being made in combating cancer as the FDA approves a biosimilar for treatment. The biosimilar will be used to treat certain types of breast and stomach cancer. Approximately 1 in 8 US women will develop an invasive type of breast cancer, while approximately 1 in 111 people develop stomach cancer. Everyone at some point in their lives will be impacted with some form of cancer, whether it be you personally, a friend, family member, or colleague. This new blockbuster drug is a watershed moment on how the industry is making huge strides in finding customized and improved cures and treatments.
As mentioned on our How Precision Medicine is Impacting Cancer Treatments blog post, researchers are taking on the challenge of leveraging this novel approach in order to find targeted treatments for diseases such as diabetes and cancer. Having tailored approaches such as precision medicine and biosimilars can make significant strides in treatment of these diseases. The path to this has already begun since we have the announcement of these approvals. As mentioned by the Wall Street Journal, “’[t]he FDA continues to grow the number of biosimilar approvals, helping to promote competition that can lower health care costs,’ FDA Commissioner Scott Gottlieb said in a statement.” This is the future of innovation and evolution in the industry. As stated in our Biosimilars Gaining Market Share post, Citigroup estimates that biosimilars could take $110 billion in market share by 2025. As a result, this new endeavor is just the start of something bigger in the industry. We can assume that will we continue to see biosimilar growth.