FDA approves new biotech drug that could save billions of dollars

March 7, 2015 2:29 PM

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FDA approves new biotech drug that could save billions of dollars

The U.S. Food and Drug Administration has officially signed off on a generic version of the biotech drug Neupogen, which boosts blood cells in cancer patients — a move that could open the door to more generic biotech drugs and save the health care industry billions of dollars.

In a massive first, the FDA has approved Novartis’ generic version of Neupogen, which will be marketed as Zarxio, and authorities believe it could save the U.S. health system $5.7 billion over the next decade, according to an Associated Press report.

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