Blue Shield of California is shaking up the pharmacy landscape with a landmark deal to drastically reduce the price of a biosimilar alternative to AbbVie Inc.’s (NYSE:ABBV) Humira, one of the world’s most expensive and widely used drugs.
Humira, approved by the FDA in 2002, has long dominated the market, treating conditions like arthritis and Crohn’s disease.
Also Read: AbbVie’s Arthritis Drug Humira Retains Market Dominance Despite Biosimilar Competition, Challenges Biosimilar Industry Viability.
However, it has faced criticism for its high pricing and extended market exclusivity, which ended in January 2023.
Blue Shield, which processes around 40,000 Humira prescriptions annually, spends ...
