A day after the FDA approved its drug Tzield (teplizumab) for patients 8 and older who have stage 2 Type 1 diabetes, Provention Bio said during an investor call the price was based on the product’s clinical value. Depending on the patient, 14 daily vials will be required for a full treatment plan, making the drug’s projected total cost $193,900.
“Our pricing decision was primarily driven by two factors,” Jason Hoitt, Provention’s chief commercial officer, said during the call. “A price point that reflects the innovation and value that we’re bringing to the stage 2 diabetes market, and frankly a price that will optimize access for patients that we’re all here to serve. When we tested this price point with payers, a majority of payers told us they would anticipate covering teplizumab with a prior authorization label.”
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