The Chamber of Commerce has asked for a preliminary injunction to halt the program before Oct. 1, the deadline for pharma companies to agree to Medicare negotiations on pricing for the first 10 drugs.
Ahead of the vote at the extraordinary general meeting, Sandoz CEO Richard Saynor said the new company is eyeing the launch of at least five additional biologic drugs over the longer term.
Sandoz plans to launch at least five additional biologic drugs, its CEO Richard Saynor said, as the generics drugs business of Switzerland’s Novartis works to enhance its investor appeal ahead of its market debut next month.
As biosimilars and other next-generation treatments for Crohn’s disease enter the market, AbbVie will be knocked from its place of longtime dominance.
Consumer healthcare brand CVS Health on Wednesday launched Cordavis, a wholly owned subsidiary focused on the growing U.S. biosimilars market that will work directly with manufacturers.
Cheaper versions of one of the most costly and widely used arthritis treatments in the U.S. are likely to fuel further scrutiny of the middlemen that negotiate drug prices for most insured Americans from lawmakers and the federal government, according to healthcare experts.
The legislation was signed into law in August 2022, and the Centers for Medicare and Medicaid Services has already penalized 70 drugs and biologics thus far.
Cigna Group’s Express Scripts said on Monday it would add three Humira biosimilars drugs from German drugmaker Boehringer and Swiss company Novartis to its list of preferred drugs.
AbbVie’s Humira will now face lower-price competition from four new biosimilars: Boehringer Ingelheim’s Cyltezo, Celltrion’s Yuflyma, Organon and Samsung’s Hadlima, and Sandoz’s Hyrimoz.
The copycat drug called Hadlima will be listed at $1,038 per month, representing an 85% discount of Humira’s current $6,922 monthly price, the companies said.