Jan. 31 Quick Takes: Lumakras sales dip again 

Sales of Lumakras sotorasib from Amgen Inc. (NASDAQ:AMGN) have declined for a second straight quarter, falling 5% to $71 million and missing the consensus estimate of $97.3 million. The company cited “lower net selling price and unfavorable changes to estimated sales deductions, partially offset by 12% volume growth.” The closely watched KRAS G12C inhibitor posted 2022 revenues of $285 million. Sales pressure on the drug could ramp up following FDA’s accelerated approval in mid-December of Krazati adagrasib from Mirati Therapeutics Inc. (NASDAQ:MRTX) as second-line therapy for adults with KRAS G12C-mutated, locally advanced or metastatic non-small cell lung cancer (NSCLC).  

Amgen’s launch of its Humira adalimumab biosimilar Amjevita adalimumab-atto at two different prices could cost patients if PBMs exclude the cheaper version from their formularies in exchange for rebates obtained through coverage of the more expensive. Amjevita, the first Humira biosimilar to launch in the U.S., will be available at discounts of both 5% and 55% off Humira’s wholesale acquisition cost (WAC) of $6,922.62 for two pre-filled syringes; its launch is an important test case for biosimilars in the U.S. AbbVie Inc. (NYSE:ABBV) secured its first approval for Humira in 2002 and claims to have secured levels of preferred national commercial and Medicare Part D formulary coverage for it that exceed 90%. ...