Onyx Kyprolis Launch Strategy Includes Speedy Delivery, Premium Price
This article was originally published in The Pink Sheet Daily
Onyx is pricing new myeloma drug carfilzomib at $9,950 per cycle, 65% higher than Takeda/Millennium’s pioneering proteasome inhibitor Velcade. Launch plans include financial assistance for providers, comprehensive patient assistance program and transition for expanded access patients to commercial drug.
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Onyx Pharmaceuticals is working to execute on two launches and produce late-stage data that will enable it to add more indications to its growing roster of marketed drugs. If it succeeds, it could eventually rival competitor Celgene as one of the few biotechs to move from a small cap into the big cap ranks, but any stumbles could slow or eliminate Onyx’s evolution.
In comments on CMS’ recent draft guidance on Medicare coverage with evidence development, Onyx Pharmaceuticals recommends that cutting edge therapies with postmarketing commitments like its cancer drug Kyprolis should be exempted, and Amyvid marketer Lilly says CED is not appropriate for radiopharmaceuticals.
FDA approved the immunomodulator Feb. 8 for multiple myeloma patients who have failed at least two prior therapies, including lenalidomide and bortezomib.