Swiss pharmaceutical giant Novartis (NYSE: NVS) unit Sandoz’s biosimilar product, Hyrimoz (adalimumab), which references AbbVie’s (NYSE: ABBV) Humira, has been announced as the first product offered by Cordavis, a newly launched biosimilars-focused subsidiary of US health solutions company CVS Health (NYSE: CVS). The biologic is planned for launch during Q1 2024 under a Cordavis label at a price more than 80% lower than AbbVie’s blockbuster.
Indications and Market Impact
The injectable drug is indicated for various conditions in the country, including rheumatoid arthritis (RA), juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn’s disease (CD), ulcerative colitis (UC), plaque psoriasis, and hidradenitis suppurativa. These indications are no longer covered by the regulatory exclusivity for Humira, opening the market to biosimilar competition.
US Market Entry and Competition
According to GBI SOURCE data, the US patent loss this year has prompted several developers to launch their adalimumab biosimilars to the market. These include Amgen’s (NASDAQ: AMGN) Amjevita, partners Organon (NYSE: OGN) and Samsung Bioepis’s Hadlima, Boehringer Ingelheim’s (BI) Cyltezo, Sandoz’s Hyrimoz, Celltrion’s (KRX: 068270) Yuflyma, and Biocon’s (NSE: BIOCON) Hulio. The entry of these biosimilars is expected to increase competition and potentially reduce costs for patients and healthcare systems.-Fineline Info & Tech
