Exclusive: CVS says biotech drug copies may bring price cuts of 40-50 percent

March 11, 2015 8:48 PM

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Exclusive: CVS says biotech drug copies may bring price cuts of 40-50 percent

WASHINGTON (Reuters) - The entry of copycat biotech drugs into the U.S. market could cut prices of expensive medications by 40 percent to 50 percent, depending on the level of competition among drugmakers, a top executive at CVS Health Corp told Reuters.

CVS is one of the largest U.S. pharmacy benefit managers and, along with rival Express Scripts, has put unprecedented pressure on global pharmaceutical makers to lower prices for its clients.

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