Some very expensive drugs may soon get a lot cheaper

There’s a good chance some of the most expensive drugs out there may soon get a bit cheaper.

Under provisions in the Affordable Care Act, it’s now easier to get approval for what are called biosimilar drugs. These are drugs that are similar – get it – to biologic, or biologically derived, medications.

Earlier this week, a panel unanimously recommended that the FDA approve the first biosimilar in the U.S. If these copycat drugs pick up steam, Rand predicts savings could reach billions in short order.