Abivax

US pricing for advanced UC orals suggests list prices near high five figures annually; for example, upadacitinib’s 30‑day WAC is about $7,090 as of January 2026. An oral, once‑daily, first‑in‑class therapy with favorable safety and rapid symptom relief can command strong net pricing and payer positioning, especially if maintenance demonstrates durable remission with steroid-sparing benefits.

We expect payers to require step‑edits versus other orals or prior biologics, so realized net pricing will depend on negotiated rebates. Latent pricing power exists if obefazimod shows best‑in‑class durability or combination potential, but competitive intensity (JAK, IL‑23, S1P) will cap outsized pricing.