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The European Medicines Agency’s (EMA) 2025 reflection paper on a tailored clinical approach for biosimilar development proposes a transformative shift toward streamlined regulatory pathways, emphasizing analytical and functional data over extensive clinical trials. This approach, open for consultation until September 30, 2025, aims to reduce development costs, accelerate market entry, and enhance patient access to biosimilars while maintaining rigorous safety and efficacy standards. In parallel, the U.S. Food and Drug Administration (FDA) has advanced its own framework for biosimilar development, emphasizing a “totality of evidence” approach with flexibility for tailored clinical studies. This white paper synthesizes the EMA’s proposals, integrates FDA perspectives, and provides strategic recommendations for biosimilar developers navigating these complementary yet distinct regulatory landscapes.