Shares of Biocon Ltd. fell as much as 4.6 percent on Friday as global peers ramp up plans to launch the top-selling anti-inflammatory Humira biosimilar at low prices. That is a drug that Biocon plans to launch on July 1.

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AbbVie Inc.’s Humira is the brand name of the original adalimumab drug. It is a prescription injection that can lower the ability of the immune system to fight infections and is mainly used to treat rheumatoid arthritis and other conditions like psoriasis, Crohn’s, ulcerative colitis, among others.

In July, Biocon is expected to launch the low-concentration biosimilar of Humira, whose market size is around $3 billion. According to analysts, Biocon will make less than $100 million annually through the sales of this biosimilar.

Notably, around six more companies other than Biocon are expected to launch their Humira biosimilars in July, taking the total number of players in the market to 8-9.

On Thursday, biopharma company Coherus BioSciences Inc. said it planned to launch Humira biosimilar or adalimumab at a discount of about 85 percent from Humira’s price.

Leading biotechnology firm Amgen has already launched the first biosimilar version of Humira in January this year.

Amgen’s Amjevita has two list prices - $3,288 and $1,557 per 40 milligram pen device for a two-week supply - representing a discount of 5 percent and 55 percent to Humira, depending on who is purchasing.

To recall, AbbVie’s Humira, which has proven to be financially the most successful drug in history, ended its 20-year US market exclusivity this year after years of lawsuits and patent fights.

Humaira had a market size of $20 billion before the end of the exclusivity this year.

Shares of Biocon are trading 2.4 percent lower, having recovered from the day's low to trade at Rs 239.30.

(With Inputs From Agencies.)

First Published:Jun 2, 2023 12:48 PM IST