The FDA has announced approval of the first biosimilar drug for the treatment of certain lung, brain, kidney and cervical cancers, 'Mvasi'.
The drug, approved for use to Amgen (AMGN), is a biosimilar to 'Avastin' which is manufacutred by Genentech, a subsidiary to Roche (ROG). A biosimilar product is classified as, "a biological product that is approved based on a showing that it is highly similar to an FDA-approved biological product, known as a reference product, and has no clinically meaningful differences in terms of safety and effectiveness from the reference product." from the FDA.
"Bringing new biosimilars to patients, especially for diseases where the cost of existing treatments can be high, is an important way to help spur competition that can lower healthcase costs and increase access to important therapies," said FDA Commissioner Scott Gottlieb, M.D
You can read the full press release here.
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