Biosimilars are biologic medical products that are highly similar to an already approved reference product, known as a biologic. They are made from living organisms and can be used to treat various diseases, including cancer and autoimmune disorders. Because they are not identical to the original product, they undergo rigorous testing to ensure they have no significant differences in safety or effectiveness. The development of biosimilars helps increase access to important treatments and can lower healthcare costs. Once the patent for a reference biologic expires, biosimilars can enter the market, providing patients with more options while maintaining high standards of quality and efficacy.