[1/2]The logo of Swiss drugmaker Novartis and its divisions Sandoz and Alcon is seen in an office building in Rotkreuz, Switzerland January 29, 2020. REUTERS/Arnd Wiegmann/Fle Photo
Jul.1 (Reuters) – Swiss drugmaker Sandoz said on Saturday it had launched a biosimilar version of AbbVie Inc’s (ABBV.N) top-selling arthritis treatment Humira, adding to US competition for the drug which started in January.
The Novartis-owned company (NOVN.S) said its drug, Hyrimoz, is getting 5% off Humira’s current list price of $6,922 per month, but it was also offering an off-brand version of Humira at 81% off.
Health care experts have said drugmakers are likely to launch their Humira biosimilars at small discounts to appeal to pharmacy benefit administrators, who withhold a portion of their fees as a percentage of the discounts they negotiate on behalf of their customers – large employers and health insurance.
The lower-cost version may attract healthcare systems that act as both insurers and providers and typically don’t seek aftermarket discounts, such as pharmacy benefit managers.
Biosimilars are designed to work like an original branded biotech drug, but are not necessarily exact copies, like traditional generics, because they are grown in living cells.
Rival Amgen Inc (AMGN.O) was the first to launch a biosimilar of Humira earlier this year, debuting at a 5% and 55% discount for Humira, depending on who bought it.
At least nine copies of Humira, which also treats conditions such as ulcerative colitis and psoriasis, from companies such as Pfizer Inc (PFE.N) and South Korea’s Celltrion (068270.KS) are expected to be available by the end of the 20th century in the United States. year.
Reporting by Patrick Wingrove; Edited by Edwina Gibbs