Washington, D.C., October 29, 2025–The ERISA Industry Committee (ERIC) issued the following statement today regarding the Trump Administration’s announcement to make it faster and less costly to develop biosimilar medicines. The statement can be attributed to ERIC President and CEO, James Gelfand.
“There are few issues where agreement is louder than when you ask Americans whether policymakers ought to do more to lower the cost of prescription drugs. Today’s announcement updating the current study requirements for biosimilar approvals and rules on interchangeability is a huge step toward removing barriers that for too long have delayed and prevented competition to biosimilars. And importantly, the action responds to a call that ERIC’s large employer member companies have been making since 2020, when ERIC first launched a groundbreaking initiative to better understand the role that biosimilars could play in reducing health care costs. Through this work, ERIC found that biosimilars saved employers, employees, and their families significant amounts of money, with the potential for much greater savings. ERIC’s advocacy also served to support and drive federal legislation that would remove the interchangeability designation altogether, including the bipartisan Biosimilar Red Tape Elimination Act. The FDA’s determination to simplify biosimilarity studies and to make it easier for biosimilars to be developed as interchangeable with brand-name biologics is a victory for all consumers and can finally make much-needed affordability a reality.”