Explanation:

Explanation

What are Biosimilars?

• It is a biologic medical product that is almost an identical copy of an original product that is manufactured by a different company.
• They are officially approved versions of original “innovator” products and can be manufactured when the original product’s patent expires.
• Reference to the innovator product is an integral component of the approval.
• Cost: Generic drugs are chemically identical to the original branded drug and, as such, cost significantly less because they don’t require much testing. Because biosimilars are made from living organisms, though, and don’t contain identical ingredients to their name-brand counterparts, they still require some testing. So, they cost more than generics, but less than the branded biologic.