(Reuters) -Coherus BioSciences Inc said on Thursday it plans to launch a biosimilar of AbbVie Inc’s Humira in July at a list price of $995 per carton, representing a discount of about 85% from the blockbuster arthritis drug.
The annual cost of the biosimilar, branded as Yusimry, will be around $13,000, compared with $90,000 for Humira, Coherus said.
Coherus has also partnered with Billionaire entrepreneur Mark Cuban’s pharmaceuticals startup to sell the biosimilar at $569.27 plus dispensing and shipping fees. The Mark Cuban Cost Plus Drug Company provides generic drugs through direct contracts with manufacturers and charges a standard markup.
Unlike pills, which have extremely cheap generic copies, complex, expensive biologic drugs made from living cells cannot be exactly duplicated. Their closest alternatives are called biosimilars.
Rival Amgen Inc launched the first biosimilar version of Humira earlier this year.
AbbVie shares were down 4.3% in early trade.
(Reporting by Raghav Mahobe in Bengaluru; Editing by Krishna Chandra Eluri)
