CVS Expands Affordable Biosimilars Market with Discount Humira
CVS Health is teaming up with drugmaker Sandoz to produce a biosimilar version of the arthritis treatment Humira, which will be sold at an 80% lower price than the brand-name drug. This move is part of CVS's new venture into securing and co-producing biosimilar drugs, which are generic versions of complex gene or protein-based therapies. The company aims to strengthen its position in the growing biosimilars market, expected to reach $100 billion in the next six years. CVS is launching a subsidiary called Cordavis to specialize in securing the supply of biosimilar drugs, partnering with Sandoz. The first biosimilar for Humira was approved by the FDA earlier this year, and CVS plans to launch its biosimilar, trademarked Hyromiz, in the first quarter of 2024.