It was a day many big biotechs and pharmas feared but one that consumers should celebrate -- the world's first biosimilar monoclonal antibodies were recommended for approval in Europe. The drug set to face a new cheap generic threat is Remicade, a $6 billion rheumatoid arthritis blockbuster and Johnson & Johnson's biggest seller.

In this video, health-care analyst David Williamson discusses the big picture importance of this EU decision, why J&J investors shouldn't panic, and why the company responsible for the biosimilar may deserve a second look.

Follow David on Twitter: @MotleyDavid.

David Williamson owns shares of Johnson & Johnson and Merck. Follow David on Twitter: @MotleyDavid.

The Motley Fool recommends Johnson & Johnson and owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.