Overall, the company’s quarterly sales came in at $14.46 billion, beating estimates of $14.03 billion. On an adjusted basis, AbbVie earned $2.65 per share, beating estimates by 8 cents.
Tag Archive for: Humira
GoodRx said that Boehringer will offer both high- and low- concentration versions of the biosimilar at an exclusive cost of $550 per two-pack on the GoodRx website.
AbbVie’s market leadership, driven by its flagship disease-modifying antirheumatic drug Humira (adalimumab), faced a significant test with the 2023 loss of patent protection. Despite an anticipated competitive surge, rivals have struggled to capitalize.
CVS Caremark’s recent decision to take AbbVie’s Humira off its major formularies has caused the blockbuster to lose more market share to biosimilars, according to the latest report from Samsung Bioepis.
AbbVie’s top-selling arthritis drug Humira has held onto more than 80% of patients after facing nine lower-priced rivals in the U.S. in the last year, raising questions about whether the market for prescription biosimilars can survive in its current form, drug pricing experts and analysts say.
As further sharp declines are expected for Humira, AbbVie has strategically pivoted to alternative immunology products to bolster its revenue streams. As such, two drugs, Skyrizi (risankizumab) and Rinvoq (upadacitinib), are emerging as key replacements. These products are forecast to collectively generate over $32 billion by 2030, enabling AbbVie to financially rebound and continue its position as a leading immunology player, says GlobalData.
Yesterday Boehringer Ingelheim won the FDA’s approval for a high-concentration and citrate-free version of its Humira biosimilar Cyltezo, targeting AbbVie’s blockbuster drug.
Humira maintained its blockbuster status and market share dominance in the first quarter of 2024, but experienced a drop in sales as biosimilar competition heated up, AbbVie reported on Friday.
Prescriptions for Sandoz’s Hyrimoz, a biosimilar version of AbbVie’s Humira, have shot up after CVS Caremark took the blockbuster arthritis treatment off its major national commercial formularies on April 1.
Despite hitting the market more than a year ago with steep discounts, biosimilars for AbbVie’s blockbuster arthritis treatment Humira (adalimumab) have managed to take only 4% of the market share away from the branded reference product, according to the latest quarterly report from Samsung Bioepis.