Biosimilar Red Tape Elimination Act

Biosimilar Red Tape Elimination Act This bill deems all biosimilars licensed by the Food and Drug Administration (FDA) interchangeable with their reference products. A biosimilar is a biological product (e.g., a drug or vaccine) that is very similar to a brand-name biological product (i.e., the reference product). Under current law, a biosimilar that meets additional requirements may be deemed interchangeable with the reference product; this designation allows pharmacists to substitute the interchangeable biosimilar when filling a prescription for the reference product, depending on state law. Further, the first biosimilar deemed interchangeable with a given reference product is awarded a…