$100,000 Price Tag For New Blood Cancer Drug - Spokane, North Idaho News & Weather KHQ.com

$100,000 Price Tag For New Blood Cancer Drug

WASHINGTON - The price of Seattle Genetics Inc's blood cancer drug Adcetris could top $100,000 for a course of treatment, becoming the latest cancer medicine to come at a high cost.

The U.S. Food and Drug Administration Friday gave its nod to Adcetris, the first drug specifically indicated for anaplastic large cell lymphoma (ALCL) and the first one approved for Hodgkin's lymphoma since 1977.

Seattle Genetics Monday said the drug will cost $4,500 per vial. In its clinical trials, the company said, patients on average received three vials per dose and between seven and nine doses per treatment.

The total price would then generally vary from $94,500 to $121,500 per patient, within Wall Street's expected range.

"Seattle Genetics' decision to price Adcetris north of $100,000 seems to be causing some concern in the investment community following the recent failure of Dendreon's Provenge to live to up to sales expectations," said Morningstar Inc analyst Lauren Migliore.

Adcetris is the latest cancer drug to hit the market with a hefty price tag to the discontent of patient groups.

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