Spark Therapeutics, a pharmaceuticals firm, has said that it will charge a hefty $850,000, for the company’s new drug that is aimed to treat a rare form of blindness. The cost of the new drug is the highest list price of any drug.
The price tag amounting to $425,000 per eye actually comes in below the expectations of analysts of about $1m, and Spark said that the company would offer alternative payment arrangements for health insurers in order to address concerns regarding its price. The said therapy is also intended to only be given once.
The company said that the price has pondered upon the “stakeholder considerations we have learned about these past months” as well as the need of the company to “build a sustainable company that addresses the unmet needs of patients with genetic diseases.”
Luxturna, Spark’s therapy, was created in order to treat a genetic retinal disease which affects around 1,000 and 2,000 people in the United States. Last month, the treatment was approved by the US Food and Drug Administration.
Although the Luxturna of Spark is the most expensive drug, the overall cost for patients and the insurers may be less than for other expensive drugs which have to be taken multiple times.
Shares in the Nasdaq-listed firmsa increased around two percent to $54.37 at around 5 pm in the afternoon.