(CercleFinance.com) – CVS Health announces the launch of Cordavis, a wholly-owned subsidiary that will work directly with manufacturers to commercialize and/or co-produce biosimilar products for the US pharmaceutical market.
“As the U.S. pharmaceutical environment continues to evolve, biosimilars represent one of the greatest opportunities to reduce drug costs for employers and consumers,” the pharmacy chain said.
CVS thus intends to develop a portfolio of products that will facilitate broader access to biosimilars in the United States, a market it expects to grow from less than $10 billion in 2022 to more than $100 billion by 2029. .
Cordavis has already contracted with Sandoz to launch Hyrimoz, a biosimilar of Humira, in the first quarter of 2024 under private label Cordavis. The list price of this product will be more than 80% lower than that of Humira.
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