Biosimilars Forum Welcomes Biocon Biologics as Newest Member
Biocon Biologics joins the growing biosimilar industry group in its work to promote access of more affordable biosimilars in the U.S.
The Biosimilars Forum has announced Biocon Biologics Ltd. (BBL), an innovation-led global biopharmaceuticals company, as its newest member. Biocon Biologics, a subsidiary of Biocon Ltd. (BSE code: 532523, NSE: BIOCON), joins the Forum’s efforts in advocating to make more affordable biosimilars more accessible to patients who need them.
Biocon Biologics is a fully dedicated biosimilars company in the United States and around the world. Strengthened by the acquisition of the biosimilars business of its long-term partner Viatris, Biocon Biologics provides life-improving medicines in a range of therapeutic areas, including diabetes, oncology, and immunology.
“We are pleased to join the Biosimilars Forum in a critical year for the biosimilars industry,” said Nimish Shah, Head of Policy & Advocacy – North America, Biocon Biologics Ltd. “Biocon Biologics is committed to providing innovative and more affordable ways to treat diabetes, cancer, and autoimmune diseases. We are excited to collaborate with the Forum and industry colleagues, supporting its mission to realize the potential of biosimilars benefitting the well-being of patients and improving public health.”
2023 has been a watershed year for biosimilars. Biosimilars have the potential to save $133 billion in U.S. health care spending by 2025, if — and only if — they have full and complete access to formularies. Free-market competition can lower prescription drug costs if biosimilars have better access to formularies.
The Biosimilars Forum works to advance biosimilars in the United States with the goals of expanding access and availability of these FDA-approved, lower-cost therapies.
“The Forum’s Board of Directors and I are thrilled to welcome Biocon Biologics to the Biosimilars Forum at a very important time for both organizations,” said Juliana M. Reed, executive director of the Biosimilars Forum. “The Forum actively supports a competitive marketplace that enables FDA-approved biosimilars to thrive. Our members advocate for our industry, and we are thrilled to work with Biocon Biologics to advance biosimilars.”
For more information on the Biosimilars Forum’s work to increase access to lower-cost biosimilars, visit biosimilarsforum.org.