The high price of drugs continues to be the focus of policy discussions, with attention often drawn to the importance of promoting price competition through the use of generic and biosimilar versions of branded reference products. As occurred with small-molecule drugs and generics after the passage of the Hatch-Waxman Act of 1984, the creation of a biosimilar approval pathway in the Affordable Care Act’s Biologics Price Competition and Innovation Act was intended to lower spending on biologic...