Multiple myeloma therapy list price set at $419,500 by Bristol Myers and Bluebird bio
Bristol Myers Squibb Co and partner bluebird bio Inc’s newly approved multiple myeloma therapy wholesale list price is set at $419,500, the companies announced on Monday.
On Friday, the U.S. FDA approved the Abecma treatment for adult patients with multiple myeloma after four or more prior lines of treatment, making it the first CAR-T therapy approved for cancer that affects plasma cells.
During CAR-T therapies immune system cells are taken from a patient and re-engineered to better fight certain blood cancers.
Brokerage Cowen and Co said in a note that Johnson & Johnson and Legend Biotech’s cilta-cel is at least 9-12 months behind and this therapy has the potential to assume a “leadership position” in the multiple myeloma space.
Brokerage Piper Sandler expects the treatment to bring in sales of over $2.5 billion by 2030.
In mid-day trading, Bluebird bio shares were up 4.3% at $31.2, while Bristol’s stock was flat at $64.
Based on the treatment duration and individual healthcare plans, the list price is not necessarily what patients pay and “out-of-pocket” costs fluctuate.
At present, as part of an agreement between Bristol Myers Squibb and bluebird bio Abecma is being jointly developed and commercialized in the United States.
