The Stelara Biosimilar Price War: How PBM-Affiliated Private Labels Are Reshaping the Market
Drug Channels
JULY 8, 2025
The 2025 launch of biosimilars to Johnson & Johnson’s Stelara (ustekinumab) marks another turning point in pharmacy benefit dynamics. But unlike the chaotic rollout of Humira biosimilars, pharmacy benefit managers (PBMs) came prepared. As always, with great pricing power comes great responsibility.
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