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Drug prices reach new high — in the millions

A new era of expensive drugs has arrived: medicines priced in the millions of dollars a patient. U.S. or European health regulators have approved four new products intended as one-time treatments for rare genetic diseases that carry list prices of at least $2 million a patient. The most recent one approved in the U.S. set a price record: $3.5 million for CSL Ltd.’s Hemgenix, a treatment for the blood disorder hemophilia B. The price tags mark a new high for medicines, which drugmakers were once reluctant to charge more than six figures for but whose prices have been heading upward. The companies say the cost reflects the drugs’ potential to help patients in a single dose, but paying for it could challenge patients and health insurers. Most of the multimillion-dollar treatments are gene therapies, a groundbreaking type of treatment that involves injecting a functional gene into a person to correct a faulty, disease-causing one. Bluebird’s Skysona gene therapy for a rare neurological disease affecting children costs $3 million, while its Zynteglo for an inherited blood disorder is priced at $2.8 million. Novartis AG’s Zolgensma gene therapy treating a muscle-wasting condition costs $2.1 million. Some of the new therapies could produce long-term savings, the companies say,by sparing patients from having to take older treatments repeatedly for the rest of their lives. McKinsey & Co. estimates that about 30 new gene therapies could be introduced in 2024 alone.

  • 15 August, 09:02
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US FDA approves Johnson & Johnson's blood cancer therapy

Johnson & Johnson (JNJ.N) said on Thursday the U.S. Food and Drug Administration had approved its antibody-based therapy for patients with a difficult-to-treat type of blood cancer. The therapy, Talvey, belongs to a class of treatments called bispecific antibodies designed to bring a cancer cell and an immune cell together so the body's immune system can kill the cancer. Talvey will be sold at a list price of $45,000 per month, the company told Reuters, adding the price could vary based on a patient's weight, prescribed dosing and treatment duration. J&J estimates a pricing range of $270,000 to $360,000 for an average treatment duration of six to eight months. The company expects to make the therapy available to patients within three weeks. Talvey was approved as a weekly or biweekly injection given under-the-skin to treat patients with relapsed multiple myeloma who have received at least four prior lines of treatment. While the FDA approved J&J's Tecvayli, another bispecific antibody, last year, Talvey is the first of its kind to target a protein known as GPRC5D, which is mainly present in cancerous plasma cells. Around 35,730 people in the U.S. are expected to be diagnosed with multiple myeloma this year. The cancer starts in the bone marrow and disrupts production of normal blood cells. "Although options for the treatment ... have expanded significantly in recent years, the disease remains incurable, and therefore, patients are in need of new treatment options," said Michael Andreini, CEO of the non-profit Multiple Myeloma Research Foundation. The therapy's approval comes with FDA's "boxed" safety warning, flagging the risk of a type of aggressive immune response and neurologic toxicity. The accelerated approval is based on mid-stage trial data, which showed 73.6% patients achieved either partial or complete disappearance of cancer from their body.

  • 14 August, 15:20
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