Biogen's Spinraza Could Cost $125,000 Per Dose

According to public pricing database PriceRx, Biogen Inc BIIB's Spinraza could cost $125,000 per dose. “We had estimated a gross annual price of $450k,” Credit Suisse’s Alethia Young said in a report. She maintains a Neutral rating on the company, with a price target of $312.

Spinraza (nusinersen) is Biogen's drug for spinal muscular atrophy. The company would likely need to pay Ionis Pharmaceuticals Inc IONS a royalty of about 15 percent, analyst Young estimated.

Estimating The Price

The price mentioned by PriceRx would be effective from December 29. This makes the wholesale acquisition cost an estimated ~$750,000 per 12mg dose for the first year and the annual dose in the second year and beyond ~$375,000, with a dose every four months, Young elaborated.

This means that the rough average prices over two and three years are $563,000 and $500,000, respectively. The label indicates that the drug would be given about six times in the first year and three times in the second year.

“We had estimated a gross annual price of $450,000. We had expected the price could be a little higher than our expectations based on other rare disease therapies and truly no options in disease space. We assume in model a 23 percent gross to net and 90 percent compliance. The dose is given via intrathecal injection and so far drug has been well tolerated in clinical trials,” the analyst wrote.

At last check, Biogen shares were down 0.6 percent at $287.50.