CVS Health launches Cordavis subsidiary; first biosimilar Hyrimoz at >80% lower list price than Humira

CVS HEALTH Corp

Launched Cordavis, a wholly owned subsidiary to commercialize and co-produce biosimilar products in the U.S.
First product: Cordavis private-label Hyrimoz (adalimumab-adaz) from Sandoz, launching Q1 2024.
List price of Cordavis Hyrimoz will be more than 80% lower than current Humira list price.
U.S. biosimilar market projected to grow from <$10B in 2022 to >$100B by 2029.
CVS CFO states Cordavis will help ensure sufficient biosimilar supply and reduce drug costs for consumers.

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