Latest news with #NationalPreferredFormulary
Business Standard
05-05-2025
- Business
- Business Standard
Biocon Biologics secures multiple market access agreements for Yesintek
Biocon Biologics (BBL), subsidiary of Biocon, today announced the Company has secured multiple market access agreements for Yesintek (ustekinumab-kfce), its biosimilar to Stelara (ustekinumab). The market access agreements from numerous plans represent over 100+ million lives in the United State. Express Scripts has added YESINTEK to the National Preferred Formulary (NPF) effective March 21, 2025. Cigna has added YESINTEK to its commercial formulary beginning on March 21, 2025. UnitedHealthcare has added YESINTEK to several formularies including commercial beginning May 1, 2025; managed Medicaid beginning March 1, 2025; and Medicare beginning June 1, 2025. CVS Health has added YESINTEK beginning July 1, 2025. And finally, Optum Rx has added YESINTEK to its Premium and Select formularies beginning July 1, 2025. YESINTEK has also been selected on several other formularies, including Navitus, Costco Health Solutions, MedImpact, Priority Health, University of Pittsburgh Medical Center (UPMC), and several other regional health plans. Additionally, YESINTEK has been selected as the exclusive Ustekinumab by Blue Cross Blue Shield of Michigan (BCBSM), Florida Healthcare Plan, and several closed-door health systems. The Company is also finalizing formulary agreements with other commercial carriers. YESINTEK is approved for the treatment of Crohn's disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis, increasing patient access to more cost-effective treatment options for use in the treatment of common chronic autoimmune diseases. YESINTEK is available in all the same formulations currently provided by STELERA . The available presentations are 45 mg/0.5 mL PFS, 90 mg/mL PFS, 45 mg/0.5 mL vial, and 130 mg/26 mL vial.
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Business Standard
05-05-2025
- Business
- Business Standard
Biocon Biologics secures multiple market access coverage for Yesintek in US
Biocon Biologics, a subsidiary of Biocon, on Monday said that it has secured multiple market access agreements for Yesintek in the US, its biosimilar which resembles the properties of Stelara. Clinical trials confirmed that Yesintek demonstrated comparable pharmacokinetics, safety, efficacy, and immunogenicity. A biosimilar is a biological medicine that is highly similar to an already approved biological medicine, also known as the reference product. Pharmacy benefit management firms like US-based Express Script have added Yesintek to the National Preferred Formulary (NPF) effective March 21. US healthcare multinational Cigna has also added Yesintek to its commercial formulary beginning on March 21. Yesintek has been approved for the treatment of Crohn's disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis, offering patients more affordable options for managing these common chronic autoimmune conditions. It is available in the same formulations as Stelara. Additionally, Yesintek has been selected as the exclusive Ustekinumab by Blue Cross Blue Shield of Michigan (BCBSM), Florida Healthcare Plan, and several closed-door health systems. The company is also finalising formulary agreements with other commercial carriers, Biocon said in an exchange filing. The available dosages include 45 mg/0.5 mL prefilled syringe, 90 mg/mL prefilled syringe, 45 mg/0.5 mL vial, and 130 mg/26 mL vial. The US Food and Drug Administration (FDA) approved Yesintek in December 2024. 'Yesintek represents an important milestone for Biocon Biologics, as this is the first product we have launched in the United States as a fully integrated biosimilars company. The listing of Yesintek on multiple formularies is another validation that payors in the US are committed to broadening access to affordable treatment options,' said Shreehas Tambe, CEO & managing director at Biocon Biologics. Josh Salsi, head of North America at Biocon Biologics said, over 100 million Americans – representing 70 to 80 per cent of the commercial market – are now covered for Yesintek through commercial formularies.
Business Upturn
05-05-2025
- Business
- Business Upturn
Biocon share price jumps 4% after its subsidiary receives multiple market access agreements for Yesintek
Biocon shares jumped 4% in early trade after the company announced that its subsidiary, Biologics, had significant U.S. market access agreements for its biosimilar Yesintek™ (ustekinumab-kfce). As of 10:20 AM, the shares were trading 4.81% higher at Rs 334.25. Approved by the U.S. FDA in December 2024, Yesintek is a biosimilar to Johnson & Johnson's Stelara®, used to treat autoimmune conditions like Crohn's disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis. Effective March 21, 2025, Express Scripts added Yesintek to its National Preferred Formulary. Major insurers and pharmacy benefit managers (PBMs) including Cigna, UnitedHealthcare, CVS Health, and Optum Rx have followed suit, with coverage expanding from March to July 2025 across commercial, Medicare, and Medicaid plans. Regional payers like Navitus, Costco Health Solutions, MedImpact, and UPMC have also adopted the drug. Notably, BCBS of Michigan and Florida Healthcare Plan will list Yesintek as their exclusive ustekinumab option. Yesintek is available in all dosage forms matching Stelara, including prefilled syringes and vials. As an interleukin-12 and interleukin-23 inhibitor, the monoclonal antibody targets inflammation in autoimmune diseases. Clinical data confirms its equivalence in efficacy, safety, and immunogenicity to the reference drug. Biocon shares opened at ₹322.00 and reached a high of ₹334.40 today, maintaining the day's low at ₹322.00. The stock remains active within its 52-week range, with a high of ₹404.70 and a low of ₹269.55. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Business Standard
05-05-2025
- Business
- Business Standard
Biocon edges higher after biologics arm secures multiple market access deals for Yesintek
Biocon advanced 3.17% to Rs 328.75 after Biocon Biologics (BBL) secures multiple market access agreements in the United States for Yesintek (ustekinumab-kfce), its biosimilar to Stelara (ustekinumab), covering over 100 million lives. These agreements include key placements on national and regional formularies. Express Scripts added Yesintek to its National Preferred Formulary (NPF) effective 21 March 2025. Cigna included Yesintek on its commercial formulary starting 21 March 2025. UnitedHealthcare has added Yesintek to various formularies: commercial from 01 May 2025; managed Medicaid from 01 March 2025; and Medicare from 01 June 2025. CVS Health will include Yesintek beginning 01 July 2025, and Optum Rx will add it to its premium and select formularies from 01 July 2025. Furthermore, Yesintek has been selected on formularies by Navitus, Costco Health Solutions, MedImpact, Priority Health, University of Pittsburgh Medical Center (UPMC), and numerous other regional health plans. Notably, Blue Cross Blue Shield of Michigan (BCBSM), Florida Healthcare Plan, and several closed-door health systems have designated Yesintek as their exclusive ustekinumab product. BBL is also in the final stages of securing formulary agreements with additional commercial carriers, the company stated. Yesintek, a monoclonal antibody that inhibits IL-12 and IL-23 signaling associated with immune-mediated diseases, received U.S. FDA approval in December 2024. It is approved for the treatment of Crohns disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis. Shreehas Tambe, CEO & managing director, Biocon Biologics, said: Yesintek (Ustekinumab kfce) represents an important milestone for Biocon Biologics, as this is the first product we have launched in the United States as a fully integrated biosimilars company. The strong adoption of Yesintek by payors in the U.S. reflects their confidence in our science, supply reliability, and commercial capability. Biocon Biologics, a subsidiary of Biocon, is a fully integrated, global biosimilars company. It has commercialized eight biosimilars in key emerging markets and advanced markets. It has a pipeline of 12 biosimilar assets under development across diabetology, oncology, immunology, ophthalmology, and other non-communicable diseases. Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. Biocon is a biopharmaceutical company manufacturing APIs, and generic formulations. It is also involved in research and development. The companys consolidated net profit declined 96.2% to Rs 25.10 crore in Q3 FY25 as compared with Rs 660 crore in Q3 FY24. Net sales increased 6.3% to Rs 3773 crore in Q3 FY25.
