CVS Health Launches Company To Produce Cheaper ‘Biosimilar’ Versions Of Expensive Biotech Drugs

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CVS Health is launching a new company, Cordavis, to commercialize and produce biosimilar drugs, the cheaper versions of expensive prescriptions derived from biotechnology.

CVS Health is launching a new company that will work directly with drug makers to produce and commercialize “biosimilar” drugs, the less expensive versions of expensive brand prescriptions derived from biotechnology.

Biosimilars are versions of biologic medicines approved by the U.S. Food and Drug Adminstration that are “highly similar to” and have “no clinically meaningful differences from” brand biologic medicines already on the market, CVS said.

 

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