This is a virtual panel discussion about whether biosimilars—cheaper copies of expensive biologic drugs—have finally gained enough market traction to meaningfully lower drug costs. The speakers explore what's working, what's broken in the system, and what comes next as more blockbuster drugs face biosimilar competition.

• The first wave of biosimilars has launched, with more major drugs facing lower-cost competition soon
• The FDA has been removing regulatory barriers to speed biosimilar approvals in an effort to reduce drug spending
• Policy shifts and structural problems in the healthcare system could derail the cost-savings momentum biosimilars have built

Americans spend more on healthcare than any other country, largely because the U.S. pays far higher prices for the same surgeries, drugs and medical services. Increased use of costly hospital care and new weight-loss medications has driven spending even higher.

• U.S. families pay about $27,000 a year on average for health insurance.
• Identical procedures (hip replacements, MRIs) and even generic drugs cost far more in the U.S. than in other countries.
• Rising hospital utilization is pushing spending higher.
• New weight-loss drugs, costing thousands per month, are a significant driver of increased healthcare spending.