CVS Health Launches Cordavis, With New Business To Bring Biosimilar Products To Market; Plans To Launch Biosimilar Hyrimoz With Sandoz Beginning In 2024 At More Than 80% Lower List Price Than Humira
Portfolio Pulse from Benzinga Newsdesk
CVS Health has launched Cordavis, a new business aimed at bringing biosimilar products to the market. The first product, Hyrimoz, a biosimilar for Humira, will be launched in partnership with Sandoz in the first quarter of 2024. The list price for Hyrimoz will be more than 80% lower than Humira.
August 23, 2023 | 8:22 pm
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POSITIVE IMPACT
CVS Health's new business, Cordavis, is expected to facilitate broader access to biosimilars in the U.S. This could potentially increase CVS's market share and revenues.
The launch of Cordavis by CVS Health signifies a strategic move into the biosimilars market. The lower price point of these products could attract a larger customer base, potentially leading to increased revenues and market share for CVS.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sandoz, a division of Novartis, has partnered with CVS Health's Cordavis to commercialize and bring to market Hyrimoz. This partnership could potentially increase Sandoz's revenues and market presence.
Sandoz's partnership with CVS Health's Cordavis to bring Hyrimoz to market could potentially increase its revenues and market presence. The partnership could also strengthen Sandoz's position in the biosimilars market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80