Posted 4/15/2024, 6:31:19 AM
Humira Market Share Drops to 96% as Cheaper Biosimilar Competition Heats Up
- AbbVie's arthritis drug Humira has 96% market share despite competition from biosimilars
- Humira sales declined 40.8% in 2023 to $3.3B due to increasing competition
- Biosimilars have steadily gained ground, now holding 4% market share
- CVS subsidiary Cordavis aims to sell biosimilars 80% cheaper than Humira
- ABBV stock has moderate buy rating based on future growth prospects, though Humira sales are declining