Novartis’ (NYSE:NVS) gene therapy Zolgensma (anasemnogene abeparvovec-xioi) generated $160M in sales in Q3, well above analysts’ projections of ~$98M, its first full quarter on the market.
The FDA approved Zolgensma, priced at a hefty
$2.1M per patient, in May for children younger than two years old with
spinal muscular atrophy.
On a call with reporters today, CEO Vas Narasimhan
said that 99% of eligible patients were receiving the gene therapy, on
average within 30 days of requesting it.
To address payer concerns over the price, the
company is offering outcomes-based deals where a portion of the cost is
refunded if Zolgensma proves ineffective in addition to an option to pay
for the treatment in five equal installments over five years.
https://seekingalpha.com/news/3507714-novartis-strong-start-zolgensma
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