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CVS will no longer offer AbbVie’s blockbuster drug Humira on its prescription drug formulary starting April 1, the company announced on January 3.
Humira is the best-selling drug of all time, and AbbVie relies on it for a big chunk of its revenue (it made up 36.6% of the company’s total drug sales in 2022). The drugmaker already expects to lose billions after Humira lost patent exclusivity in 2023, so keeping the drug listed on major insurers’ formularies is critical to minimizing the loss.
CVS Caremark, one of the largest pharmacy benefit managers (PBMs) in the US, is the first to remove Humira from its formulary. The PBM plans to instead direct patients to the cheaper biosimilar versions of Humira, a drug designed to treat inflammatory conditions like rheumatoid arthritis. CVS executives said in a press release that the biosimilars should save customers more than 50% compared to the price of the original Humira, which cost patients with insurance an average of $1,812 in 2020.
“We are committed to accelerating the adoption of biosimilars and providing customer choice alongside a seamless member experience,” David Joyner, EVP and president of CVS Caremark and CVS Health, said in a statement. “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 healthcare needs of their members and lower drug costs.”
AbbVie spokesperson Jillian Griffin told Healthcare Brew the company had “anticipated and previously communicated our expectation that some payers would make formulary adjustments as additional biosimilars entered the marketplace.”
Humira is still “widely available” for patients, Griffin added.
CVS also announced on January 3 that its Cordavis division, which was started in August 2023 to commercialize and coproduce biosimilars, will work with AbbVie to create a co-branded version of Humira that will be available in the second quarter of this year.
“This will provide another treatment option for [Humira] patients and aligns to the CVS Caremark focus on customer choice and seamless member experience,” CVS executives said in a statement.