Swiss pharmaceutical company Novartis has received US regulatory approval for a gene therapy that has a price tag of $2.1 millionWASHINGTON - Swiss pharmaceutical company Novartis on Friday announced it had received US regulatory approval for a gene therapy that treats a rare childhood disorder and has a price tag of $2.1 million, making it the most expensive drug in history. But the announcement comes as the administration of US President Donald Trump has vowed to tackle soaring drug costs. Novartis defended the pricing by saying that gene therapy was a transformative new type of treatment and was 50 percent cheaper than current treatments. "Zolgensma is a historic advance for the treatment of SMA and a landmark one-time gene therapy," Novartis CEO Vas Narasimhan said in a statement, which added that the company was working with government and insurers to accelerate coverage. Gene and cell therapies leverage the biology to reverse diseases ranging from congenital blindness to pediatric leukemia.

Source: Bangkok Post May 25, 2019 01:18 UTC