Swiss drug company Novartis has hinted that it could charge as much as $4 to $5 million for a new gene therapy, according to Reuters.
Rare disease: The gene replacement treatment, not yet approved, is for type 1 spinal muscular atrophy, a fatal inherited disease that strikes 1 in 20,000 toddlers. A single dose of the therapy appears to prevent the disease if given shortly after birth. In other words, it looks like a true cure.
Strike it rich: The gene therapy technology was spun out by Nationwide Children’s Hospital into a startup, AveXis, which tested it in a dozen or so children. Earlier this year, Novartis acquired AveXis for almost $9 billion. The deal made a few people very wealthy. It also pretty much guaranteed an eye-watering price tag.
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