Ok….. here’s something innovative in the wacky world of specialty pharmacy!
CVS has launched a new subsidiary called Cordavis. The new entity “will work directly with manufacturers to commercialize and/or co-produce biosimilar products”. The most noteworthy thing in that line is the word ‘co-produce’. They don’t really explain exactly the extent of CVS’ involvement in co-producing….. but that is where the innovation really pops up.
The focus of the initiative will target biosimilars.
The article cites that “…. Cordavis to [will] launch biosimilar Hyrimoz with Sandoz beginning in 2024 at more than 80% lower list price than Humira.” This ‘out of the gate’ move is extra noteworthy.
We’ve seen a huge spike in activity around biosimilars in recent months….. and we expect it to continue with new biosims being approved for more and more reference products beyond the many that have already been approved for the early brand targets.
Our Reports over the next two weeks will be dedicated to even more noteworthy biosimilar developments.
Yes, we’ve used the word ‘noteworthy’ now 4 times in this Report…. which itself says something noteworthy…. Ok, now its 5 times.
CVS Health Launches Cordavis
New business will bring high quality biosimilar products to market with goal of reducing drug spend and ensuring access to affordable medications