Celgene (CELG), Related Stocks Decline Amid Biopharma Weakness
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Wall Street Looks to Soothe Biotech's Holiday Meltdown (GILD) (CELG) (AMGN)
December 24, 2014 7:51 AM ESTBiopharma stocks were crushed Tuesday, a day after AbbVie's (NASDAQ: ABBV) move to sign an exclusive with Express Scripts (NASDAQ: ESRX) for Viekira in HCV, despite Gilead Sciences' (NASDAQ: GILD) Harvoni being a better treatment option. The move has ignited fear in the industry that biosimilar manufacturers will cut similar deals with PBMs to be on preferred formulary or may be exclusive formulary. By some estimates, this could have biosimilars cutting price by 30% which could force branded... More
AbbVie (ABBV): Express Scripts (ESRX) Says Viekira Pak Will Be the Exclusive Option for Genotype 1 Hepatitis C Patients (GILD)
December 22, 2014 7:13 AM ESTOffering an unprecedented solution to an unprecedented healthcare challenge, Express Scripts (NASDAQ: ESRX) today announced an update to its National Preferred Formulary that will significantly expand access to AbbVie's (NYSE: ABBV) new medication, Viekira Pak®,a breakthrough treatment for hepatitis C.
Viekira Pak, approved by the U.S. Food and Drug Administration on December 19, was determined to be at least clinically equivalent to Harvoni® (ledipasvir and sofosbuvir) and Sovaldi® (sofosbuvir) by Express Scripts' independent Pharmacy & Therapeutics Committee. As a result of the committee's determination, Viekira Pak will immediately be added to the Express Scripts formulary, and will be the exclusive option for patients with genotype 1 hepatitis C, regardless of symptoms or disease progression, starting January 1, 2015.
Approximately 75 percent of the more than 3 million Americans with hepatitis C have a form of the... More
