TGTX - TG Therapeutics' price for multiple sclerosis therapy is not low enough - ICER

2023-03-09 15:42:20 ET

TG Therapeutics ( NASDAQ: TGTX ) launched its newly approved multiple sclerosis therapy Briumvi at $59K per year, but an influential U.S. drug pricing watchdog, says that the company should price it between $16.5K – $34.9K to meet cost-effectiveness.

In December, the FDA approved Briumvi, also known as ublituximab, to treat adults with relapsing forms of multiple sclerosis (RMS)

Early this year, the company launched the anti-CD20 monoclonal antibody at $59K or ~$9.8K per vial, competing with Roche ( OTCQX:RHHBY ) and Novartis ( NVS ), which also market similar drugs for RMS.

The Institute for Clinical and Economic Review (ICER), whose views are used by payers and sometimes lawmakers in decision-making, noted in this year’s Final Evidence Report that the price is too high based on commonly accepted standards for cost-effectiveness.

ICER’s analysis indicates that Briumvi and other monoclonal antibody therapies, such as Novartis’ ( NVS ) Kesimpta and Roche’s ( OTCQX:RHHBY ) ocrelizumab, should be priced between $16.5K – $34.9K per year which, for TG ( TGTX ), indicates a ~56% price cut at the mid-point.

Seeking Alpha contributor Stephen Ayers issued a Strong Sell on TGTX in February, citing concerns about Briumvi pricing and the drug’s cost-effectiveness related to non- disease-modifying RMS therapies.

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