Here are four things to know:
1. Celgene raised the price of its top-selling cancer drug to $719.82 for a 10-milligram dose. Cancer patients need multiple doses of Revlimid per year, so the costs can add up to $200,000 annually.
2. The same dose of Revlimid cost $247.28 at the end of 2007.
3. The Summit, N.J.-based biotech company also raised the price of a psoriasis therapy Otezla, cancer treatment Abraxane and two other drugs by 3.5 percent.
4. The price hikes flew under the radar as the drugmaker announced the same day its intent to be acquired by Bristol-Myers for $74 billion, one of the largest deals in pharma history.
More articles on pharmacy:
Hospital-owned drug company attracts 12 more health systems
How nurses are becoming integral to pharma marketing: 7 notes
4 tips for managing drug spend from Alameda Health System’s Dr. Yi-Chih Peng
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.