Pharma’s Paradox: Cure A Deadly Childhood Disease And Then Get Attacked On Price
As Kymriah neared FDA approval, many analysts speculated that Novartis would charge anywhere between $600,000 – $750,000. Instead, Novartis set the price at $475,000. Furthermore, Novartis took the stance that payment wouldn’t be made unless the patients had responded to Kymriah at the end of the first month after treatment. Nevertheless, critics assailed Novartis for this price. Not surprisingly, payers were first to weigh in with outspoken biopharma critic Steve Miller claiming that this price is “dramatically higher than other specialty drugs.” Actually, this statement is not true. There are drugs that cost more than twice Kymriah. Kymriah barely makes the top ten.