Valeant Pharmaceuticals' new treatment for plaque psoriasis will cost $3,500 a month, reports Reuters.
The Food and Drug Administration approved the drug, called Siliq, in February. The agency also added a black box warning to the drug's label over risks of suicidal thoughts and behaviors.
Siliq is the cheapest injectable biologic psoriasis treatment on the market, according to Valeant. Novartis' psoriasis drug Cosentyx costs $5,400 a month and Eli Lilly's treatment Taltz costs about $6,000, according to the report.
"But this is only list price," Annabel Samimy, an industry analyst, told Reuters. "[I]t's neither here nor there unless you know the rebates provided to payers … optically, [it] looks like Siliq is the better value based on the price and relative efficacy."
Valeant expects to launch Siliq in the second half of 2017.
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