Celgene says it will sell the newly-approved Revlimid for $6,195 a month to patients with multiple myeloma. Analysts note that each new cancer drug that is approved is coming out with a price higher than competing drugs currently on the market. That's a trend that can be sustained for now, analysts note, but won't be sustainable indefinitely. Morgan Stanley concludes that the drug will garner a 97 percent gross profit, which doesn't include the cost of marketing or administrative overhead. Celgene plans to establish a program to help patients who are uninsured or underinsured. But some analysts note that with Medicare and Medicaid picking up much of the tab, it's only a matter of time before lawmakers step in.
- see the article on Revlimid from The Wall Street Journal (sub. req.)