A biosimilar is a biological product defined as being comparable (but not identical) to an already FDA-approved biological product, in molecular structure, safety, and effectiveness. Because they are not identical to the reference product, they differ from generic drugs, which have identical molecular structures and active ingredients to those of the brand name products. The first biosimilar insulin, Basaglar, was introduced in the U.S in 2016, having already been available in Europe under the name Abasaglar. More are on the way. Because they require fewer clinical trials, biosimilars can be less expensive. Read more