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Treatment for infant muscle wasting disease to hit market. potential price: $2 million
Posted on 5/7/19 at 6:24 am
Posted on 5/7/19 at 6:24 am
LINK
Even at $2M, most of us would probably be willing to pay for their own children.
quote:
A new treatment for an infant muscle-wasting disease is about to go on sale at a potential cost of $2 million, a record price tag likely to fuel the continuing scrutiny of how companies price their drugs and how insurers pay for them. Novartis AG NVS has yet to set a price for the gene therapy called Zolgensma, but executives say the drug’s potential to cure spinal muscular atrophy, an inherited disease that typically kills babies before they turn two, justifies a seven-figure price.
quote:
Gene therapies target diseases that result from a faulty gene by introducing a working version into the body. They are attracting interest, both for their ability to cure otherwise devastating illnesses in one treatment and also for their high cost. Luxturna, the only gene therapy on sale in the U.S. so far to treat a form of inherited sight loss, costs $850,000 a patient. The issue is gaining in importance as more gene therapies go on sale. The Food and Drug Administration expects to approve 10 to 20 gene and cell therapies a year by 2025.
Even at $2M, most of us would probably be willing to pay for their own children.
Posted on 5/7/19 at 6:30 am to East Coast Band
Seems cruel but these people don't work for free either
ETA: I'm not saying it's right, this is 100% because they know the insurance companies will either cover it or the government will subsidize it. It's a cruel circle
ETA: I'm not saying it's right, this is 100% because they know the insurance companies will either cover it or the government will subsidize it. It's a cruel circle
This post was edited on 5/7/19 at 6:39 am
Posted on 5/7/19 at 6:32 am to East Coast Band
I hope the person in charge of pricing it is tortured by ISIS.
Posted on 5/7/19 at 6:32 am to East Coast Band
Is 2mil what they charge insurance?
Posted on 5/7/19 at 6:34 am to East Coast Band
So they’ll sell drugs so babies can get swole but it’s still illegal for a doctor to give medicine to help a man build muscle?
Posted on 5/7/19 at 6:35 am to East Coast Band
Self pay discount: 1.5 mil
Posted on 5/7/19 at 6:37 am to TDsngumbo
quote:
I hope the person in charge of pricing it is tortured by ISIS.
So you'd rather not have the drug on the market?
Posted on 5/7/19 at 6:42 am to BurningHeart
quote:
So you'd rather not have the drug on the market?
At that price, it may as well not be on the market. Insurance companies won’t pay it. Only the wealthiest of the wealthy will be able to pay for it.
Posted on 5/7/19 at 6:44 am to LuckySo-n-So
quote:
At that price, it may as well not be on the market. Insurance companies won’t pay it. Only the wealthiest of the wealthy will be able to pay for it.
The market will take care of that then. If it's too expensive and price can be brought down, Novartis will work for a way to reduce the price.
If the price can't be brought down and no one pays, it'll be off the market.
Capitalism ftw
Posted on 5/7/19 at 6:47 am to TDsngumbo
You do realize why they charge what they charge right?
It is an extremely rare disease. They put a ton of money into R&D.
Small market. Tons of money spent developing it.
It is an extremely rare disease. They put a ton of money into R&D.
Small market. Tons of money spent developing it.
Posted on 5/7/19 at 6:52 am to BurningHeart
quote:
you'd rather not have the drug on the market?
That’s not what I meant at all. As a father I can’t imagine the medication needed to save my child existing but not being able to afford it.
Posted on 5/7/19 at 6:54 am to Fun Bunch
quote:
You do realize why they charge what they charge right?
It is an extremely rare disease. They put a ton of money into R&D.
Small market. Tons of money spent developing it.
8b ppl in this world, I doubt its rare enough to justify the cost. My guess is that they need to milk the market before generic drugs come out.
Posted on 5/7/19 at 6:56 am to mailman
quote:
8b ppl in this world, I doubt its rare enough to justify the cost. My guess is that they need to milk the market before generic drugs come out.
quote:
Novartis AG NVS has yet to set a price for the gene therapy
Great guess
Posted on 5/7/19 at 6:57 am to TDsngumbo
quote:
That’s not what I meant at all. As a father I can’t imagine the medication needed to save my child existing but not being able to afford it.
Then you must be for a fully socialized medical system. That's the only way you're going to guarantee every infant is able to get the treatment.
As we all know, socialism = innovation all throughout history
Posted on 5/7/19 at 7:02 am to East Coast Band
I am usually in the drug company’s corner but if they are pricing this because they can hold people “hostage” with the life of their child instead of some sort of cost/amortization basis that is in humane and the decision maker should die a painful death.
If it really costs $2mm (including a reasonable margin) that’s one thing but if they are basically price gouging that’s another thing.
If it really costs $2mm (including a reasonable margin) that’s one thing but if they are basically price gouging that’s another thing.
Posted on 5/7/19 at 7:04 am to TDsngumbo
quote:
That’s not what I meant at all. As a father I can’t imagine the medication needed to save my child existing but not being able to afford it.
If you woulda worked more turnarounds instead of leaving for piano recitals and travel ball games you could afford it like the rest of us
Posted on 5/7/19 at 7:06 am to Mid Iowa Tiger
quote:
If it really costs $2mm (including a reasonable margin)
I'd be curious to see what the actual cost is to the customer.
The list price may be $2mm, but with insurance and coupons it may be less (still incredibly expensive though, I'd imagine).
Posted on 5/7/19 at 7:08 am to LuckySo-n-So
quote:
At that price, it may as well not be on the market. Insurance companies won’t pay it. Only the wealthiest of the wealthy will be able to pay for it.
It’s okay for there to be some things available only to the wealthiest who can afford it. If whoever is selling it could reduce the price and still make profit, they would to increase the volume of their sales. There’s a reason 200 ft yachts are only affordable to the wealthy.
Posted on 5/7/19 at 7:10 am to East Coast Band
How much did the drug cost to develop?
Miracle drugs just fall from the sky?
Miracle drugs just fall from the sky?
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