Prognosis
Celgene Boosted the Price of Its Top Cancer Drug on the Same Day of Mega-Deal
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On the same day Celgene Corp. was announcing that it would be acquired by Bristol-Myers Squibb Co. in the biggest pharma deal ever, the company was also raising the price of its blockbuster cancer drug.
The Summit, New Jersey-based biotechnology company, which has routinely increased the prices of its top-selling drugs, boosted the price of a 10-milligram dose of Revlimid by 3.5 percent to $719.82 effective Jan. 3, according to price data compiled by Bloomberg Intelligence and First Databank. Cancer patients need many doses of Revlimid a year, and the overall cost can approach $200,000. The same dose cost $247.28 at the end of 2007.