House committee uncovers how Humira’s price spiked by 470% as AbbVie execs cashed bonuses tied to the hikes
Prior to the House Committee on Oversight’s grilling of AbbVie CEO Richard Gonzalez on Tuesday, the committee staff released a 57-page report following a two year investigation into how and why the company spiked the price of Humira (adalimumab) and made it the highest-grossing drug of all time.
While the committee investigation and public lashing aren’t likely to do actual damage to AbbVie’s bottom line or bring new Humira biosimilar competition before 2023 in the US, the report digs into how AbbVie used more than two dozen price increases, shadow pricing with Amgen’s blockbuster Enbrel, and patent thickets to block competition while amassing more than $170 billion in net revenue from Humira since 2003.
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