On Thursday, Evernorth Health Services said its Accredo arm will make a Humira biosimilar available to patients with no out-of-pocket costs. Evernorth is a subsidiary of The Cigna Group (NYSE:CI).
Beginning in June, the high- and low-concentration interchangeable biosimilar will be produced for Evernorth's affiliate private-label pharmaceutical distributor, Quallent Pharmaceuticals, through agreements with multiple manufacturers.
Most patients will be able to secure the biosimilar products for $0 out-of-pocket through the copay assistance programs offered at Quallent beginning in June, Evernorth said.
This program is estimated to save individual patients around $3,500 on average per year.
According to the announcement, the biosimilar price is about 85% lower than that of branded Humira. More than 100,000 Accredo patients use either Humira or one of its biosimilars, the company said.
The specialty pharmacy provides patients with a Therapeutic Resource Center to connect to specialty-trained pharmacists and nurses who are available around the clock. Accredo's centers cover 15 specific conditions.
Humira is AbbVie Inc's (NYSE:ABBV) blockbuster arthritis drug. In the most recent first-quarter earnings, Humira generated sales of $2.27 billion (down 35.9% Y/Y).
Reuters notes that AbbVie has held onto more than 98% of the Humira market despite nine biosimilars being launched in the U.S. last year.
Citing IQVIA data, Reuters highlighted that privately-held German drugmaker Boehringer launched its version, Cyltezo, last July but has only sold a couple of thousand prescriptions since then.
Reuters report added that almost 3 million Humira prescriptions have been written during the same period, although tens of thousands of scripts have started to shift to biosimilar Hyrimoz each week since CVS Health's Inc (NYSE:CVS) pharmacy benefits unit took Humira off the list of drugs it recommends insurers reimburse.
Price Action: CI shares are down 0.07% at $354.25 at the last check Friday.
Image: Phoenix Locklear from Pixabay