Biosimilar Red Tape Elimination Act

This bill would make it so that all biosimilars — which are drugs or vaccines that are very similar to brand-name biological products — approved by the FDA are automatically allowed to be substituted for the brand-name product they copy. Right now, biosimilars have to meet extra requirements before pharmacists can swap them in when filling a prescription, but this bill removes those extra steps. The change would take effect 60 days after the bill becomes law, and biosimilars already approved would also be treated as interchangeable at that time. However, if a biosimilar was already granted a special period where only it could be substituted for a particular brand-name product, that exclusive period would still be honored until it runs out.

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