financetom
Business
financetom
/
Business
/
Cigna to offer Humira rivals with $0 copay at specialty pharmacy
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Cigna to offer Humira rivals with $0 copay at specialty pharmacy
Apr 25, 2024 2:34 PM

(Reuters) - Cigna ( CI ) plans to make close copies of AbbVie's ( ABBV ) blockbuster arthritis drug Humira available with no out-of-pocket payment to eligible patients in the U.S. using its specialty pharmacy beginning in June, the health insurer said on Thursday.

Cigna ( CI ) said it will stock high- and low-concentration biosimilar versions of Humira from drugmakers including Boehringer Ingelheim, Teva and Alvotech at its Accredo pharmacy.

"Not all biosimilars are created equal," Matt Perlberg, president of Cigna's ( CI ) Evernorth Health Services' pharmacy and care delivery businesses, said in an interview. "We know that patients need options, and we wanted to make sure that we offer the right experience, level of clinical care, and affordability for as many eligible patients as possible."

Unlike easy to manufacture pills that can be copied and sold as generics at a huge discount once patents lapse, complex biologic medicines made from living cells cannot be exactly duplicated. Their close alternatives are called biosimilars.

Despite nine biosimilars being launched in the U.S. last year, AbbVie ( ABBV ) has held onto more than 98% of the Humira market. Privately-held German drugmaker Boehringer launched its version, Cyltezo, last July but has only managed to sell a couple thousand prescriptions in total since then, according to IQVIA data.

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 ( CVS ) pharmacy benefits unit took Humira off the list of drugs it recommends insurers reimburse. Hyrimoz is made by Switzerland's Sandoz.

Cyltezo and Simlandi, from Israel's Teva and Iceland's Alvotech, are designated as interchangeable, meaning they can be substituted for the original without consulting the prescriber.

Simlandi, which was approved in the U.S. in February, is the only interchangeable biosimilar of Humira that also comes in a high-concentration dose.

AbbVie's ( ABBV ) high-concentration version of Humira makes up close to 90% of its sales in the United States.

Cigna ( CI ) said these biosimilars will be priced at about 85% lower than the $6,922.62 monthly list price of Humira, and that it had made agreements with the manufacturers as well as its distributor Quallent to bring the out-of-pocket cost down to $0.

The company said the move should save around $3,500 on average per year for some of the 100,000 Accredo patients currently using either Humira or one of its biosimilars. Perlberg did not provide an estimate for how many patients they anticipate switching.

"Different patients adopt products at different times," said Perlberg.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Gulf Guaranty Life Insurance Company Upgraded by AM Best Following Acturion Acquisition; Company to Rebrand as American Gulf
Gulf Guaranty Life Insurance Company Upgraded by AM Best Following Acturion Acquisition; Company to Rebrand as American Gulf
Sep 15, 2025
  FLOWOOD, Miss.--(BUSINESS WIRE)-- Gulf Guaranty Life Insurance Company (“GGLIC”) d/b/a American Gulf (“American Gulf”) today announced that AM Best has upgraded the company’s Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) affirmed its Financial Strength Rating of B++ (Good), and removed the ratings from under review with developing implications. The outlooks assigned to these Credit...
Palo Alto Networks Just Made Its Boldest Move Yet — Analyst Thinks It Could Pay Off
Palo Alto Networks Just Made Its Boldest Move Yet — Analyst Thinks It Could Pay Off
Sep 15, 2025
Despite the recent pressure on Palo Alto Networks Inc. ( PANW )'s stock due to the acquisition of CyberArk Software Ltd ( CYBR ) , the company remains one of our favorite cyber security names to own over the next 12-18 months, according to Wedbush. The Palo Alto Networks ( PANW ) Analyst: Analyst Daniel Ives maintained an Outperform rating...
Pape-Dawson Acquires Georgia-Based Gaskins + LeCraw
Pape-Dawson Acquires Georgia-Based Gaskins + LeCraw
Sep 15, 2025
Pape-Dawson continues to expand its footprint in Georgia and Alabama MARIETTA, Ga.--(BUSINESS WIRE)-- Pape-Dawson has acquired Georgia-based civil engineering and surveying firm, Gaskins + LeCraw. Gaskins + LeCraw provides civil engineering, surveying, permitting, landscape architecture, and planning services for a variety of municipal, educational, residential, commercial, and industrial clients in Georgia. With 176 employees across five offices in Georgia...
MoonPay to Buy Startup Meso to Expand Crypto Payments Further
MoonPay to Buy Startup Meso to Expand Crypto Payments Further
Sep 15, 2025
Crypto ( CRCW )-focused financial technology company MoonPay is set to acquire payments startup Meso. The acquisition, first reported by Bloomberg on Monday, was confirmed by MoonPay in a post on X. No financial details of the acquisition nor an estimated timeframe were provided. We're excited to share that MoonPay has acquired Meso to help us build crypto's largest global...
Copyright 2023-2026 - www.financetom.com All Rights Reserved