New Drug Prices Top Records

The latest round of newly approved therapeutics are peppered with high costs in the US that peak in the millions of dollars, a growing trend in the industry. Many of these therapeutics are gene therapies or antibody-based treatments. These therapies are opening up new, powerful options to patients, but the high costs are often prohibitive.

According to Peter Loftis, “Drugmakers say gene therapies can make a difference to patients with rare genetic diseases, by either curing them or providing yearslong benefits through delivering a correct copy of a faulty gene, though there have been some safety concerns over the class. 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. Most of the gene therapies approved to date are for diseases with small patient populations, limiting their overall cost to health insurers’ budgets despite high per-patient prices.”

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(Source: Mint, December 27^th, 2022)