US lawmakers to research approval, pricing of Alzheimer's drug from Biogen
US lawmakers on Friday (Jun 25) announced a study in to the approval and pricing of Biogen Inc's Alzheimer's drug, Aduhelm, amid concerns over its steep price and doubts if the clinical evidence proves the drug works.
The drug, that includes a list price of US$56,000 per year, was approved by the US regulators as the first treatment to attack a likely reason behind Alzheimer's on Jun 7.
"We've serious concerns about the steep price of Biogen's new Alzheimer's drug Aduhelm and the procedure that resulted in its approval despite questions about the drug's clinical benefit," House Committee on Oversight and Reform said in a statement.
The investigation has been announced by Rep. Carolyn Maloney, chairwoman of the Committee on Oversight and Reform, and Rep. Frank Pallone, Jr, Chairman of the Committee on Energy and Commerce.
Biogen did not immediately react to a Reuters obtain comment.
At US$56,000 a year, the Kaiser Family Foundation estimates that Medicare could spend US$57 billion or even more annually on Aduhelm, which is more than Medicare Part B spends on all the drugs combined, the House Committee said.
Health insurers and the Medicare program will bear most of the price tag on the drug, whose price will change predicated on dosage and discounts.
The Food and Drug Administration (FDA) approved the drug - despite strong objection from its expert advisory panel - for all patients with Alzheimer's, though it has only been tested for patients in the first stages of the condition.
Three of the 11 members of FDA's independent advisory panel have resigned in protest over the agency's decision.
Shares of the drugmaker were down nearly 1 per cent in after-market trading.
Source: www.channelnewsasia.com
