Drugs

AbbVie's next Humira

A manufacturing plant with the blue AbbVie logo on top.
An AbbVie manufacturing facility in Italy. Photo: AbbVie

Humira will control the market for many autoimmune conditions in the U.S. until 2023, and AbbVie executives already have a plan for when cheaper alternatives roll out.

Driving the news: AbbVie CEO Richard Gonzalez said at the J.P. Morgan Healthcare Conference that two newly approved drugs — Skyrizi and Rinvoq — that treat the same conditions as Humira could hit or surpass $20 billion in combined sales in the future (they generated $153 million in the first nine months of 2019). Gonzalez revealed Skyrizi's net price is "roughly the same as Humira," which is around $40,000 annually.

Health care industry grapples with staggering gene therapy costs

Data: CVS Health; Table: Axios Visuals

The gene therapy pipeline contains several drugs that are likely to cost the health care system billions of dollars in the near future, according to an a new CVS white paper.

The big picture: Drugmakers are already having to come up with creative ways to get paid for high-cost drugs, the Wall Street Journal reported yesterday, and that's before these new gene therapies hit the market.