Novartis recently won FDA approval for Zolgensma, a new medicine that can potentially cure infants suffering from the otherwise fatal disease spinal muscular atrophy (SMA). But its record-high price of $2.125 million has sparked a broader conversation about drug pricing characterized by bemused practicality, scathing indignation, and everything in between.
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[W]hy is the price of Zolgensma so high?
Zolgensma is a bargain compared to the standard of care for SMA.
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“[L]east expensive” is a relative term. $2.125 million is an astounding sum that only looks reasonable when compared to the prices of other healthcare products and services.
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The ability to set a high price for new drugs incentivizes biomedical innovation.
It takes a lot of time and money to bring a new drug to the market, and the most innovative therapies often rely upon years—if not decades—of basic research from both industry and academia.
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In the case of Zolgensma, insurers are expected to cover most (if not all) of its cost, but that just establishes a new baseline for what’s considered tolerable. At what price does innovation become too costly?
Read full, original post: Zolgensma: More Musings On The Price Of The World’s Most Expensive Drug (Part 3/3)
