SmithRx will be first PBM to offer YUSIMRY, a Humira Biosimilar, for one-tenth the list price of Humira
Teaming up with Mark Cuban Cost Plus Drug Company, SmithRx will start offering members Yusimry beginning in July 2023
SmithRx announced today that we will offer YUSIMRY, a biosimilar of Humira, to our members for more than 90 percent less than the list price of Humira. Working with Mark Cuban Cost Plus Drug Company, PBC, SmithRx will cover YUSIMRY when it is launched in early July 2023. YUSIMRY will be available through the Cost Plus Drugs online mail-order pharmacy for $569.27 plus dispensing and shipping fees, compared to the current price of Humira of $6,922 per carton. Unique to this collaboration, SmithRx members will be able to apply their insurance benefits to further reduce their out-of-pocket costs for YUSIMRY.
Unlike traditional PBMs, SmithRx prioritizes transparency and up-front cost savings. Humira is often an employer’s top drug expense so offering a low cost alternative will have significant impact. We’re excited to work with Cost Plus Drugs to bring this biosimilar to our members – and significantly reduce costs for them and their employers.
Jake Frenz, CEO and founder of SmithRx
Humira, the top-selling pharmaceutical in the world, is also one of the most expensive medications in America and is used to treat a range of auto-immune conditions including rheumatoid arthritis, Crohn’s disease, ulcerative colitis, and plaque psoriasis. Humira is used by more than 300,000 patients in the U.S., and biosimilar versions of it have only just come to market.
This will be the first time that a Humira biosimilar is available to patients through a PBM at low and transparent price. When a previous biosimilar was released earlier this year, legacy PBMs made it available only through the standard model of high list prices coupled with opaque rebates.
Working with SmithRx, a transparent PBM, has been a great experience for Mark Cuban Cost Plus Drug Company. Their commitment to transparency and efficiency aligns perfectly with our mission to provide affordable and accessible medications to all. Together, we are forging a new path in the pharmaceutical industry, ensuring that patients receive the best care at the most reasonable costs.
Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company
On June 1, 2023, Mark Cuban Cost Plus Drug Company and Coherus Biosciences announced plans to offer Cost Plus Drug Company customers YUSIMRY (adalimumab-aqvh), a biosimilar of HUMIRA (adalimumab injection), in July 2023.
A new type of pharmacy benefits manager, SmithRx is working to reduce pharmacy costs by reimagining the traditional PBM as a Drug Acquisition Platform built on transparent modern technology that aligns with the needs of our customers.