Low-cost Humira competitors hit the U.S. market
Several biosimilars for Abbvie's blockbuster rheumatoid arthritis drug Humira officially hit the U.S. market since July got started.
Why it matters: Humira has long enjoyed patent protection and posted $21.2 billion in revenue from the drug in 2022, but now cheaper versions of the drug could help drive prices down.
The rundown: India's Biocon Biologics launched a biosimilar of Humira in the U.S. called Hulio on Monday, Reuters reports.
- California-based Coherus Biosciences also launched a version called Yusimry. Last month, the company announced it would partner with Mark Cuban's Cost Plus Drug Company to offer the drug to customers at a price of $569.27, plus dispensing and shipping fees starting this month.
- Germany's Fresenius and Boehringer Ingelheim, Switzerland-based Sandoz and South Korea-based Celltrion Healthcare also launched Humira biosimilars.
Yes, but: As Axios previously reported, PBMs may be slow to adopt the cheaper versions of the drug.