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Home>UPDATE: UPDATED: Neurocrine stock up 3% on higher-dose approval of tardive dyskinesia drug

UPDATE: UPDATED: Neurocrine stock up 3% on higher-dose approval of tardive dyskinesia drug

UPDATE: UPDATED: Neurocrine stock up 3% on higher-dose approval of tardive dyskinesia drug

10/05/2017

Neurocrine Biosciences Inc. (NBIX) shares rose 3% in premarket trade Thursday after the company said the Food and Drug Administration has approved a higher, 80 mg dose of its tardive dyskinesia drug. The 80 mg dose will be priced at $6,225 for a 30-count bottle, about 20% higher than the lower, 40 mg dose's $5,275 price, according to a company financial filing. (The figures refer to the drug's wholesale acquisition cost, or the price a drugmaker offers middleman wholesalers.) The 40 mg dose of Ingrezza was approved in April, making it the first approved for the neurological disorder, and the higher dose capsule of Ingrezza is expected to be available within two weeks through a certain pharmacy network, Neurocrine said. Neurocrine said in April that it planned to price the $64,000-a-year drug "essentially the same" at different dose levels so patients could focus on their treatment. However, the lower dose became available first due to issues formulating the higher dose, meaning that patients on the higher dose would be charged twice the price, MarketWatch reported in May (http://www.marketwatch.com/story/neurocrine-biosciences-new-drug-may-cost-patients-taking-recommended-dose-twice-as-much-as-expected-2017-04-26). Chief Executive Kevin Gorman told MarketWatch in May (http://www.marketwatch.com/story/why-neurocrine-is-charging-twice-as-much-for-its-new-drug-as-it-said-it-would-2017-05-02)that the situation would be temporary, only lasting until the 80 mg dose was approved, and would have a "de minimis" revenue effect because a slow launch was expected. Neurocrine shares have surged 30.4% over the last three months, compared with a 4.3% rise in the S&P 500 .

-Emma Court; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

10-05-17 0918ET

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