CVS Health Launches Company To Produce Cheaper Versions of Expensive Biotech Drugs
August 24, 2023
CVS Health has introduced Cordavis, a new subsidiary aimed at producing and commercializing “biosimilar” drugs, which are more affordable versions of costly brand prescriptions derived from biotechnology. Cordavis will collaborate directly with drug manufacturers to develop and distribute these biosimilar products, which are approved by the FDA as highly similar and without clinically meaningful differences from existing brand biologic medicines. CVS aims to ensure a consistent and affordable supply of these biosimilars to enhance patient accessibility to vital treatments while reducing costs.
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