Consternation over skyrocketing drug prices, especially in the U.S., has led to intense scrutiny from patients, Congress, insurers and hospitals. Spark Therapeutics said Wednesday it decided on the lower price for Luxturna (Lux-turn-a) after hearing concerns from health insurers about their ability to cover the injectable treatment. WASHINGTON—A first-of-its kind genetic treatment for blindness will cost $850,000 (U.S.), less than the $1-million price tag that had been expected, but still among the most expensive medicines in the world. Many older drugs for ultrarare diseases also cost hundreds of thousands of dollars per year, and can quickly exceed a million dollars. However, some companies have begun to offer more detailed reasoning as the backlash against drug prices has grown more heated.

Source: thestar January 03, 2018 17:48 UTC