Pfizer, Merck KGaA's $13,000-a-Month Cancer Drug Wins Approval
- FDA approves immune-based therapy for rare form of skin cancer
- Price for average patient is in line with others in its class
Pfizer and Merck KGaA’s cancer immunotherapy won approval from U.S. regulators for patients with a rare form of skin cancer, and the companies plan to sell the drug for $13,000 a month. Merck KgaA CEO Stefan Oschmann speaks on 'Bloomberg Daybreak Europe.' (Source: Bloomberg)
Pfizer Inc. and Merck KGaA’s immunotherapy, priced at $13,000 a month, won the backing of U.S. regulators for patients with a rare and deadly form of skin cancer, giving the companies a foothold in one of the most promising new fields of medicine.
The treatment, called Bavencio, is the first to be approved by the U.S. Food and Drug Administration for patients with Merkel cell carcinoma that has spread to other parts of the body. The aggressive form of cancer affects 1,600 people a year in the U.S., according to the National Cancer Institute, with less than half of the patients surviving more than a year.