FDA Approves First Generic Biotech Drug

March 6, 2015 3:58 PM

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FDA Approves First Generic Biotech Drug

The U.S. Food and Drug Administration on Friday approved its first “biosimilar” drug, a decision expected to launch a new industry of lower-cost versions of expensive biotechnology drugs that could help the U.S. curb its $375 billion in yearly drug spending.

The drug, called Zarxio, was developed by Novartis AG ’s Sandoz unit and is highly similar to Amgen Inc. ’s Neupogen, which is designed to increase white blood-cell counts in patients undergoing chemotherapy.

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