Provention Bio diabetes drug to cost $13,850/vial, Health Information, ET HealthWorld

New Jersey: Provention Bio Inc mentioned on Friday its just lately authorized diabetes drug, teplizumab, would cost $13,850 a vial.

The U.S. Meals and Drug Management authorized the usage of the drug, to be offered beneath the emblem identify Tzield, past due on Thursday for delaying the onset of insulin-dependent sort 1 diabetes, which is much less commonplace than sort 2 of the illness, for other folks elderly 8 years and above.

A 14-day routine of the drug would translate to a value of $193,900, the corporate mentioned on a convention name.

In October, Provention signed a co-promotion deal for the drug with Sanofi, providing the French drugmaker first negotiation for unique international rights to commercialize the drug in change for an prematurely fee of $20 million.

As according to the deal, the approval additionally lets in Sanofi to acquire up to $35 million of Provention’s commonplace stocks.

Stocks of New Jersey-based Provention Bio have been down just about 8 according to cent ahead of the bell.

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