Humira Biosimilar at 85% Discount!

Coherus BioSciences to launch Humira biosimilar at 85% discount

Written by Raghav Mahobe for Reuters ->

June 1 (Reuters) – Coherus BioSciences Inc CHRS.O said on Thursday it plans to launch a biosimilar of AbbVie Inc’s ABBV.N Humira in July at a list price of $995 per carton, representing a discount of about 85% from the blockbuster arthritis drug.

The annual cost of the biosimilar, branded as Yusimry, will be around $13,000, compared with $90,000 for Humira, Coherus said.

Coherus has also partnered with Billionaire entrepreneur Mark Cuban’s pharmaceuticals startup to sell the biosimilar at $569.27 plus dispensing and shipping fees. The Mark Cuban Cost Plus Drug Company provides generic drugs through direct contracts with manufacturers and charges a standard markup.

More than 300,000 patients in the U.S. take Humira every year, according to Coherus.

Unlike pills, which have extremely cheap generic copies, complex, expensive biologics made from living cells cannot be exactly duplicated. Their closest alternatives are called biosimilars.

Rival Amgen Inc AMGN.Olaunched the first biosimilar version of Humira earlier this year. The company priced the drug at two levels – $3,288 and $1,557 per 40 milligram pen device for a two-week supply – depending on who was purchasing.

About half a dozen companies, including Teva Pharmaceutical TEVA.TA, are planning to launch biosimilars to Humira in the U.S. market in July.

AbbVie shares were down more than 4%, while Amgen fell nearly 4% in early trade.

(Reporting by Raghav Mahobe in Bengaluru; Editing by Krishna Chandra Eluri)

Coherus BioSciences to launch Humira biosimilar at 85% discount | Nasdaq