Cardinal Health Report Highlights ‘Pivotal Year’ for Biosimilars

The FDA approved the first biosimilar in 2015, and since then, almost 50 more have been greenlighted. Last year saw the biggest influx of these competitors onto the U.S. market, and a recent Cardinal Health report, titled 2024 Biosimilars Report: Insights on a pivotal year of evolution and expansion, highlights this burgeoning market.

Since 2015, biosimilars have saved $23.6 billion, with $9.4 billion of that total coming in 2023 alone. Last year saw the long-awaited competition to the top-selling Humira (adalimumab) from AbbVie Inc., with nine biosimilars launching, two of them with interchangeable status, an important differentiator to providers. “As the top-selling drug in the world with annual sales of $20 billion in 2022, the potential monetary impact of increased market competition cannot be overstated,” says the report.