Boehringer to lay off salespeople as Humira biosimilar sales lag [Reuters]
IQVIA Holdings, Inc. (IQV)
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Source: Reuters
The German drugmaker said it planned to reduce its customer-facing teams in favor of a hybrid in-person and virtual sales model by June 30, in large part because pharmacy benefit managers (PBMs) had kept branded Humira on their lists of medicines for reimbursement. That choice has led to less uptake of biosimilar versions of Humira in the United States, including Boehringer's Cyltezo, it said. The company, which has 53,000 employees worldwide, did not provide details on how many people would be laid off. Despite nine biosimilars being launched in the U.S. last year, AbbVie has held onto more than 98% of the Humira market. Boehringer launched Cyltezo last July but has only managed to sell 1,487 prescriptions in total since then, according to IQVIA data. Almost 2.8 million Humira prescriptions have been written during the same period. Humira until recently was the world's top selling prescription medicine with annual sales reaching $22 billion in 2022, but has been eclipsed by
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IQV
Earnings
- 2/14/24 - Beat
IQV
Sec Filings
- 4/17/24 - Form 8-K
- 3/4/24 - Form 4
- 3/4/24 - Form 4
- IQV's page on the SEC website