JERSEY CITY, N.J.--(BUSINESS WIRE)--Celltrion USA has signed a contract with Ventegra ®, a major U.S. Medical Benefits Manager (MBM) who administers pharmacy benefits through its Pharmacy Services Administration (PSA) model that has been effectively displacing traditional PBM’s. Ventegra will incorporate Yuflyma® (adalimumab-aaty) as a preferred drug in its formulary. As a result, Celltrion expands its performance in the U.S., the world's largest adalimumab market.
Celltrion USA had completed a contract with Ventegra to include Yuflyma® as a preferred drug in its formulary starting from the middle of September. Some administrative procedures such as uploading the updated formulary into its systems, should be completed by the first part of October 2023. By inclusion onto Ventegra’s formulary in both public and private insurance markets, Celltrion USA has secured access in the appropriate channel for approximately 3.6% of the entire U.S.
“After an exhaustive evaluation process, we are pleased to be working with Celltrion on launching Yuflyma as a formulary option and look forward to their extensive pipeline of biosimilar products,” said Robert T. Taketomo, Pharm.D., MBA, President/CEO of Ventegra.
Celltrion USA emphasized that it has concluded a deal with Ventegra based on Yuflyma’s product competitiveness, technology, commercial capabilities, supply stability, patient support programs, and clinical credibility. In total, Celltrion has secured about 20% of the U.S. population so far by adding meaningful achievements with PBMs and MBM’s such as Ventegra.
Celltrion USA is confident that Yuflyma® will be added to more PBM and MBM formularies over time. It has expanded discussions with stakeholders, including PBMs and other healthcare entities, in accordance with the company’s sales strategies. As marketing activities such as ‘Celltrion CONNECT® Patient Support Program’ are implemented, interest in Yuflyma® is expected to escalate. Celltrion USA expects that it will be able to provide interested parties with more favorable terms and conditions because Yuflyma® will have further strengthened its competitiveness through the expected approval of 80mg and 20mg dosage forms by the end of this year. Celltrion USA plans to expand its marketing activities so that Yuflyma® has coverage and/or access for 40% of the U.S. population by the end of the year.
“In the United States, we are committed to increasing patient choice through access to biosimilars,” said Francine Galante, Vice President of Market Access at Celltrion USA. “Yuflyma®’s new formulary listing in Ventegra’s public and private insurance markets will expand patient access and improve quality of life.”
“With Ventegra’s placement of Yuflyma® on its formulary as a biosimilar option, Celltrion is well positioned in the U.S. adalimumab market, poised for significant growth, and ready to leap forward as a global leading biopharmaceutical company,” said Thomas Nusbickel, Chief Commercial Officer at Celltrion USA. “Celltrion USA has gained strong opportunities in direct sales in the U.S. as this contract was led by Celltrion experts with extensive experience in establishing and implementing strategies that incorporate local considerations and parameters. Celltrion USA expects to continue achieving positive results in the U.S. with its extensive portfolio of products.”
About Celltrion USA
Celltrion USA is Celltrion Healthcare’s U.S. subsidiary established in 2018. Headquartered in New Jersey, Celltrion USA is committed to expanding access to innovative biologics to improve care for U.S. patients. Celltrion USA will continue to leverage Celltrion Healthcare’s unique heritage in biotechnology, supply chain excellence, and best-in-class sales capabilities to improve access to high-quality biopharmaceuticals for U.S. patients. Celltrion Healthcare endeavors to offer high-quality, cost-effective solutions through an extensive global network that spans more than 110 different countries. For more information, please visit: www.celltrionusa.com/
About Ventegra®
Ventegra®, recognized as a “New Class of Trade,” serves as a Medical Benefit Manager (“MBM”) with Pharmacy Services Administrator (“PSA”) as part of its portfolio of products. Ventegra is a single, turnkey solution for clients interested in managing their medical and pharmacy benefit services with integrity, quality, and complete transparency around data/costs of care. The Ventegra business model fundamentally realigns financial incentives focusing on value-based care and total healthcare cost. Ventegra understands the value of the coordinated care delivery model and can serve the needs of those with similar goals and objectives. www.ventegra.com
