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AbbVie Wary Of IRA Potential Impact On Struggling Imbruvica

 
• By Joseph Haas

While AbbVie tries to estimate which of its products might fall into CMS price negotiations, it is seeing lower-than-expected sales erosion for Humira and continued growth for Skyrizi and Rinvoq.

AbbVie Building
AbbVie's projections of Humira sales erosion are holding up well • Source: Shutterstock (Valeriya Zankovych/Shutterstock)

AbbVie Inc. reported solid second quarter 2023 financial performance on 27 July, with US biosimilar erosion for Humira a bit lower than the company projected while immunology successors Skyrizi and Rinvoq showed strong growth and price stabilization in the US. But CEO Rick Gonzalez pointed to one of AbbVie’s struggling core products, Imbruvica, as one that could be a target of the first Medicare price negotiations this fall under the Inflation Reduction Act (IRA).

Imbruvica (ibrutinib), a BTK inhibitor partnered with Johnson & Johnson, posted a 25% revenue decline during Q1 due to competition from newer drugs from its class such as BeiGene, Ltd.’s Brukinsa (zanubrutinib) and AstraZeneca PLC’s Calquence (acalabrutinib). (Also see "AbbVie Gets Humira Erosion Right, But Skyrizi/Rinvoq Disappoint Investors" - Scrip, 27 April, 2023

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