AbbVie's VRAYLAR® Gains Public Reimbursement In Alberta For Schizophrenia Treatment

(RTTNews) - AbbVie (ABBV) announced that Alberta has added VRAYLAR® - cariprazine to its Health Drug Formulary, expanding public coverage for adults living with schizophrenia.

This milestone ensures that VRAYLAR® is now listed across all Canadian provinces and through federal programs such as NIHB, CSC, and 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 symptoms.

Experts highlighted the significance of this step in improving patient outcomes. Dr. Toba Oluboka, Clinical Professor of Psychiatry at the University of Calgary, noted 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 the result of years of advocacy, calling it 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 approved for treating schizophrenia in adults and as monotherapy for both manic and depressive episodes of bipolar I disorder. Jointly developed by AbbVie and Gedeon Richter Plc, it is commercialized by AbbVie across multiple global markets, including Canada.

ABBV currently trades at $216.92 or 0.65% lower on the NYSE.