As expected, the FDA on Friday gave its approval to Genentech to market Lucentis for wet, age-related macular degeneration. Genentech says it plans to charge $1,950 a dose for the drug, which will go head-to-head with OSI's Macugen, an early-market entry in the field. OSI acquired Macugen in its acquisition of Eyetech last year. Lucentis has demonstrated clear superiority to a placebo and is expected to rack up blockbuster sales. But Genentech has no plans to compare the effect of Lucentis against its cancer therapy Avastin, which has delivered significant results at a much lower cost for doctors using the therapy off-label. Genentech took 10 years to develop Lucentis.
- here's the AP report on Lucentis