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Biotech / Medical : Cambridge Antibody Technology Group
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To: Jongmans who started this subject1/8/2003 10:42:13 AM
From: nigel bates  Read Replies (1) of 625
 
Abbott Offering Arthritis Drug for Free to Seniors
Tue Jan 7,

ABBOTT PARK (Reuters) - Abbott Laboratories Inc. said on Monday that it would offer its new arthritis drug Humira for free to seniors without medical coverage, a major promotional move as it enters the lucrative and competitive arthritis market.

In launching Humira, Abbott's biggest competitors in rheumatoid arthritis will be Johnson & Johnson, which sells the popular medicine Remicade, and Amgen Inc., which offers hot-selling Enbrel. Both J&J and Amgen boast significant marketing muscle.

Abbott said it would offer Humira at no cost to Medicare-eligible seniors without prescription-drug coverage until a Medicare drug benefit is enacted.

President Bush (news - web sites) and Congressional leaders over the past few years have promised that all seniors will receive reimbursement for prescription drugs under the Medicare program, but no law has yet been passed by both houses of Congress and signed by Bush.

Many elderly patients buy their own prescription drug coverage from an insurance company or get reimbursed for their rheumatoid arthritis treatment by the government.

Abbott on Dec. 31 won a surprise early approval for Humira, which could generate annual sales of $1 billion because it is easier to administer than rival treatments and may be safer.

Enbrel, Remicade and Humira all block a protein called tumor necrosis factor that causes inflammation.
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