Thursday, March 30, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Provention prices diabetes drug above analysts’ estimates at $13,850/vial By Reuters

by Reuters
November 19, 2022
in Stock Market
Reading Time: 2 mins read
A A
0
Home Stock Market
Share on FacebookShare on Twitter


© Reuters.

By Raghav Mahobe and Nandhini Srinivasan

(Reuters) -Provention Bio Inc has priced its diabetes drug teplizumab at $13,850 a vial, it said on Friday, a day after receiving U.S. approval and far higher than some analysts’ expectations.

The company’s shares reversed course from premarket gains to trade down nearly 12% as the high pricing stoked fears over insurance coverage.

The U.S. Food and Drug Administration on Thursday approved use of the drug for patients, with stage 2 of type 1 diabetes, to delay the onset of insulin dependence in those aged 8 years and above.

A 14-day regimen, or a course of the drug would translate to a wholesale price of $193,900, the company said on a conference call. The wholesale price is not necessarily what patients pay for a drug.

“This (price) is much higher than perhaps what the Street was expecting,” said Gregory Renza, an analyst at RBC Capital Markets.

“Investors will have some level of concern that this pricing could lead to insurance hurdles,” said SMBC Nikko Securities analyst David Hoang, who was expecting the treatment to cost $70,000 to $80,000 per course.

Type 1 diabetes is an autoimmune disease caused by the destruction of beta cells in the pancreas that produce insulin.

More than 1.8 million people in the United States suffer from type 1 diabetes, according to Provention.

In October, the company signed a co-promotion deal for the drug with Sanofi (NASDAQ:), offering the French drugmaker first negotiation for exclusive global rights to commercialize the drug in exchange for an upfront payment of $20 million.

Teplizumab belongs to a class of drugs known as anti-CD3 therapies, which bind themselves to certain white blood cells to suppress the body’s immune response.



Source link

Tags: 13850vialanalystsDiabetesdrugestimatesPricesProventionReuters
Previous Post

US Existing Home Sales In October Plunge -28.43% YoY As Fed Tightens Monetary Noose (EHS Median Price Growth YoY Slows To 6.6% As Inventory Declines)

Next Post

Biden asks U.S. Supreme Court to lift block of student loan relief plan By Reuters

Related Posts

Wall St opens higher as bank fears fade, focus on inflation data By Reuters

by Reuters
March 30, 2023
0

© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City,...

Marketmind-World markets leaving March like a lamb By Reuters

by Index Investing News
March 30, 2023
0

© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City,...

LME Nickel Buyers Worried About Fraudulent Nickel Scandal

by Euro Times
March 30, 2023
0

Ivorr/iStock via Getty Images Original Post By Stuart Burns The London Metal Exchange is back in the limelight again, along...

BlackRock calls on clients to rethink hedging strategy after UK pension crisis By Reuters

by Reuters
March 30, 2023
0

© Reuters. FILE PHOTO: A BlackRock building is seen in New York June 12, 2009. REUTERS/Eric Thayer By Tommy Wilkes...

Tyson Foods: A Buy, The Worst Case Scenario Is Likely Priced In (NYSE:TSN)

by Euro Times
March 30, 2023
0

pixdeluxe/E+ via Getty ImagesInvesting in stocks at or near the bottom is always hard. The easiest way to invest is...

an end run around DeSantis By Reuters

by Reuters
March 30, 2023
0

2/2 © Reuters. FILE PHOTO: People gather at the Magic Kingdom theme park before the "Festival of Fantasy" parade at...

Next Post

Biden asks U.S. Supreme Court to lift block of student loan relief plan By Reuters

Carvana cuts 8% of workforce on slowing used-car demand By Reuters

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

BLOODY HORROR: Bystanders Videotape Father Stabbed to Death Inside Starbucks in Front of 3-Yr-Old Daughter For Asking Attacker to Stop Vaping Near His Child

March 30, 2023

Syrah Resources breaks production record, says U.S. anode plant on track (OTCMKTS:SYAAF)

March 30, 2023

Wall St opens higher as bank fears fade, focus on inflation data By Reuters

March 30, 2023

Terra Luna Classic Network Upgrade; Joint L1 Task Force Q2 Plan

March 30, 2023

Microsoft Defender flagged legit URLs as malicious

March 30, 2023

Constellation Brands taps Tastemade to help draw new customers

March 30, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

BLOODY HORROR: Bystanders Videotape Father Stabbed to Death Inside Starbucks in Front of 3-Yr-Old Daughter For Asking Attacker to Stop Vaping Near His Child

Syrah Resources breaks production record, says U.S. anode plant on track (OTCMKTS:SYAAF)

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In