WOONSOCKET, R.I., Jan. 3, 2024
/PRNewswire/ -- Today CVS Caremark®, a CVS Health®
(NYSE: CVS) company, announced the continuation of its
efforts to expand adoption of biosimilars. Effective April 1, 2024, Humira® will be removed from our
major national commercial template formularies and Humira
biosimilars will be covered. Humira will continue to be an option
for its customers with Choice and Standard Opt Out commercial
formularies. Commercial formularies are the drug lists used by
employers, unions and health plans for prescription drug
coverage.
In much the same way that generic drugs are used as alternatives
to branded drugs, biosimilars offer quality, safe, and effective
treatment options that have no clinically meaningful difference
from their reference products. A vibrant and competitive biosimilar
market is essential to driving sustainable cost savings and options
for consumers over the long term. The biosimilars market in the
U.S. is projected to grow from less than $10
billion in 2022 to more than $100
billion by 2029.
"We are committed to accelerating the adoption
of biosimilars and providing customer choice alongside a
seamless member experience," said David
Joyner, Executive Vice President, CVS Health and President
of CVS Caremark. "Our customers want to have choices. By preferring
biosimilars that have a significantly lower list price than their
reference product, CVS Caremark is putting our customers in
the driver's seat to best meet the health care needs of their
members and lower drug costs."
The company also announced that AbbVie, as part of its continued
commitment to access, has entered into an agreement to supply
Cordavis, a CVS Health company, with a committed volume of
co-branded Humira. This will provide another treatment option for
adalimumab patients and aligns to the CVS Caremark focus on
customer choice and seamless member experience. The Cordavis Humira
product will be available in the second quarter. Cordavis Humira
provides additional options for payors.
For members transitioning to a biosimilar, CVS Caremark will
help ensure a seamless experience, including proactive member and
prescriber notification of this change 60 days in advance, in
addition to follow-up text message reminders and online education.
CVS Caremark will meaningfully engage prescribers to guide them
through appropriate next steps to help transition plan members.
Because current Humira authorizations will be transitioned to the
preferred biosimilar products, members and prescribers will not
need to obtain a new prior authorization review with this product
transition.
Autoimmune conditions, such as those treated by Humira, have
been one of the greatest contributors to specialty drug
growth over the last decade. CVS Caremark is again leading the
market by actively taking advantage of this historic biosimilar
opportunity, potentially saving our clients more than 50% on
adalimumab in 2024 vs. 2022 when Humira was the sole option.
About CVS Health
CVS Health® is the leading health
solutions company, delivering care like no one else can. We reach
more people and improve the health of communities across America
through our local presence, digital channels and over 300,000
dedicated colleagues — including more than 40,000 physicians,
pharmacists, nurses and nurse practitioners. Wherever and whenever
people need us, we help them with their health — whether that's
managing chronic diseases, staying compliant with their medications
or accessing affordable health and wellness services in the most
convenient ways. We help people navigate the health care system —
and their personal health care — by improving access, lowering
costs and being a trusted partner for every meaningful moment of
health. And we do it all with heart, each and every day. Follow
@CVSHealth on social media.
Media contact
Phil
Blando
Phillip.Blando@CVSHealth.com
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SOURCE CVS Health