Cheaper Version Of Blockbuster Arthritis Treatment Humira - CVS Health Teams With Sandoz
Portfolio Pulse from Vandana Singh
CVS Health Corp has launched Cordavis, a subsidiary, to work with manufacturers to commercialize biosimilar products in the U.S. pharmaceutical market. Cordavis has contracted with Sandoz, a unit of Novartis AG, to commercialize Hyrimoz, a biosimilar for AbbVie Inc's product Humira. The product is expected to launch in Q1 2024 and will be priced 80% lower than Humira.
August 24, 2023 | 2:04 pm
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POSITIVE IMPACT
CVS Health's new subsidiary Cordavis is expected to boost the company's presence in the biosimilar market, potentially leading to increased revenues.
The launch of Cordavis and its partnership with Sandoz to commercialize a cheaper alternative to Humira could potentially increase CVS Health's market share and revenues in the biosimilar market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Novartis AG's unit Sandoz, which is expected to be spun off later this year, has partnered with Cordavis to commercialize a biosimilar for Humira.
The partnership between Sandoz and Cordavis to commercialize a biosimilar for Humira could potentially increase the revenues of Sandoz and, in turn, Novartis AG.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
AbbVie may face increased competition for its product Humira due to the introduction of a cheaper biosimilar by Cordavis.
The introduction of a cheaper biosimilar to Humira by Cordavis could potentially decrease the market share and revenues of AbbVie's product.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80