CVS Health has launched a subsidiary, Cordavis, to work directly with manufacturers to commercialize and/or co-produce FDA-approved biosimilar products at more affordable prices.

The venture will start with the launch of Hyrimoz, Sandoz’s biosimilar for Humira, at more than 80 percent less than the current price of about $7,000 per month for the drug, under a private label from Cordavis, the company says.

The company says it plans to launch the private-label Hyrimoz in the first quarter of 2024.

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