AbbVie slips as Cigna adds more Humira biosimilars for coverage
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AbbVie (NYSE:ABBV) inched lower for the third straight session on Monday after Express Scripts, the pharmacy benefits management (PBM) unit of Cigna (NYSE:CI), pledged to cover three new biosimilars targeted at the companyâs blockbuster arthritis therapy Humira.
Accordingly, two copycat versions from the Sandoz unit of Novartis (NVS) and one product from German drugmaker Boehringer Ingelheim will be available in Express Scriptsâ National Preferred Formulary (NPF) alongside Humira.
The treatments will be grouped with Amgenâs (AMGN) Amjevita, the first Humira biosimilar to enter the U.S. market, Express Scripts said.
Humira, which was worldâs bestselling drug for years added $18.6B in net revenue for AbbVie (ABBV) in 2022 from the U.S.
"In any industry, competition often leads to lower prices, and until recently, HUMIRA had little competition," Adam Kautzner, President of Express Scripts, remarked. "We believe that, like generic medications, biosimilars can drive greater affordability for individuals with chronic and complex conditions who need it most."
Novartisâ (NVS) Humira versions added by Express Scripts were introduced early this month. The Swiss drugmaker's branded biosimilar version, Hyrimoz, and its unbranded version, adalimumab-adaz, were available at 5% and 81% discounts to Humiraâs current list price of $6.9K per month, respectively.
Boehringerâs biosimilar product named Cyltezo was launched at a 5%â7% discount to Humira's list price.
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