Fresenius launches biosimilar version of AbbVie's Humira at 5% discount

Fresenius headquarters in in Bad Homburg
Fresenius headquarters in Bad Homburg near Frankfurt, Germany, February 27, 2018. REUTERS/Ralph Orlowski/File Photo

July 3 (Reuters) - The generic drug unit of Germany's Fresenius (FREG.DE) said on Monday the price for Idacio, its copycat version of Abbvie's (ABBV.N) top-selling rheumatoid arthritis drug, will be at a 5% discount to Humira's list price.

Fresenius joins drugmakers Boehringer Ingelheim, Sandoz and Organon, which launched Humira biosimilars, or copies of biologic drugs, this week.

Industry experts have said that most new biosimilars are expected to debut with marginal discounts to Humira's monthly price of $6,922.

Boehringer Ingelheim's biosimilar Cyltezo will also be priced similarly to Humira, the company said last week.

Although prices usually fall when generic versions of a widely used medication enter the market, manufacturers of Humira biosimilars are likely to keep prices high.

This will allow them to compete with one another for leverage with pharmacy benefit managers such as CVS Health (CVS.N), Cigna Group's (CI.N) Express Scripts and UnitedHealth Group's (UNH.N) Optum RX, which negotiate insurance coverage on behalf of large employers and health insurance plans.

Coherus Biosciences (CHRS.O) also said on Monday it plans to launch its Humira biosimilar at a list price of $995 per carton, representing a discount of about 85% to the drug's price.

Reporting by Bhanvi Satija in Bengaluru; Editing by Shounak Dasgupta

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