CVS Shifts From Humira to More Affordable Biosimilars, Impacting AbbVie Sales
TL;DR
Abbvie's stock price experienced a significant drop after CVS Health announced it would no longer cover the pharmaceutical giant's blockbuster drug, Humira, opting instead to support biosimilar alternatives. This move by CVS is expected to have a notable impact on Abbvie's revenue, as Humira has been one of its top-selling drugs. Investors reacted to the news, leading to a decline in Abbvie's shares during extended trading.
- Abbvie shares tumble after CVS drops Humira in favor of biosimilars CNBC
- CVS to Replace AbbVie's Blockbuster Humira With Cheaper Rivals Yahoo Finance
- CVS Caremark accelerates biosimilars adoption through formulary changes PR Newswire
- CVS Caremark Won't Cover Humira in Blow to AbbVie (ABBV) Bloomberg
- CVS Partially Dropping Top-Selling Drug Humira In Favor Of Cheaper Biosimilars Forbes
Want the full story? Read the original reporting
Read on CNBC