AbbVie's VRAYLAR has gained public reimbursement in Alberta for schizophrenia treatment, expanding coverage across all Canadian provinces and federal programs. This milestone is crucial for Canadians with serious mental illness, as up to 90% are unemployed and rely on coverage to manage symptoms. Experts praise the decision as an important development for patients with schizophrenia.
AbbVie (NYSE: ABBV) has announced that Alberta has added VRAYLAR® (cariprazine) to its Health Drug Formulary, expanding public coverage for adults living with schizophrenia. This development comes after years of advocacy and is a significant milestone in improving access to mental health treatments across Canada.
VRAYLAR®, an atypical antipsychotic medication, has been found to improve both positive and negative symptoms of schizophrenia in controlled clinical trials. It is also indicated as monotherapy for bipolar mania and bipolar depression. The medication works by adjusting the balance of neurotransmitters, such as dopamine and serotonin, in the brain.
The inclusion of VRAYLAR® in Alberta's Health Drug Formulary ensures that it is now listed across all Canadian provinces and through federal programs such as Non-Insured Health Benefits (NIHB), Correctional Service Canada (CSC), and Veterans Affairs Canada (VAC). Public drug plan access is crucial, as up to 90% of Canadians with serious mental illness are unemployed and rely on coverage to manage their symptoms.
Dr. Toba Oluboka, Clinical Professor of Psychiatry at the University of Calgary, highlighted the significance of this step, noting that public reimbursement allows more patients to access tailored treatments that support daily stability and quality of life. Chris Summerville, CEO of the Schizophrenia Society of Canada, praised the decision as an important development for people managing schizophrenia.
AbbVie Canada's Vice-President and General Manager, Rami Fayed, emphasized the company's commitment to providing diverse therapeutic options and improving patient care nationwide. VRAYLAR® is jointly developed by AbbVie and Gedeon Richter Plc and is commercialized by AbbVie across multiple global markets, including Canada.
ABBV currently trades at $216.92 on the NYSE, with a slight decrease of 0.65% from its previous close.
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