CLAIM #18300 · CVS Health Corp (CVS) · 2023Q3 earnings call · Nov 1, 2023 · due Mar 31, 2024
“we are going to launch it at a list price that's greater than 80% lower than the current list price for Humira.”
Prem Shah · Executive
In context
“spend that's in specialty drugs, it's greater than 50% at this point. So, it's really important for us to be able to create that competition in biosimilars. And as I think about what Cordavis is really intended to do, it's going to work with manufacturers to bring these products into the U.S. pharmaceutical marketplace. One of the big, big pieces that we need to ensure is, what I'd say, is continuity of supply of these products in the marketplace. And that's one of the things that Cordavis will work for. So, our first product that we'll launch, as we mentioned earlier in the year, is going to be a contract with Sandoz to co-manufacture and commercialize Hyrimoz and its biosimilar product called Humira. And we'll be launching that in the first quarter of 2024. And recall, we mentioned that we are going to launch it at a list price that's greater than 80% lower than the current list price for Humira. So, again, it creates lower cost for consumers, better access, and affordability across the board. And as we look out into 2024 with Cordavis, we intend to have a full portfolio of products as we see other biosimilar competition coming in the specialty marketplace to facilitate the broader access with these products in the U.S. And I'll hand it over to Tom to talk about some of the questions on the financials on that. Tom Cowhey: Yeah. Thanks, Lisa. You asked about kind of the GLP-1 impact. But I think it's important to just talk about what the enterprise impact is there. And then David can talk some more about some of the specifics on how the PBM helps here and some of the challenges that our self-insured customers are facing. In Pharmacy Services, the GLP-1 is -- are a class of drugs th”
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SEC filings for CVS ↗ · Claim quote is verbatim from the 2023Q3 earnings call.