Gene-Therapy Cure Has Money-Back Guarantee - (MIT Technology Review via NewsPoints Desk)

  • The Italian Medicines Agency (AIFA) said that GlaxoSmithKline will refund costs for the gene therapy Strimvelis if the drug is not effective, MIT Technology Review reported.

  • "The drug has to deliver what you say or we don't pay," commented AIFA director general Luca Pani, adding "if it does not work, they will return the money."

  • GlaxoSmithKline, which agreed to a price of $665 000 for the ADA-SCID drug, will only offer the drug in Milan because of its complexity.

  • Pani noted that Italy has collected more than 250 million euros in refunds in conjunction with prior pay-for-performance agreements.

  • "We hope that Strimvelis will be the first of a number of innovative gene-therapy medicines that we will bring to patients," stated Anna Padula, a spokesperson for GlaxoSmithKline's rare-diseases group, continuing "the company recognises…that the industry will need to adapt the way in which medicines are priced and funded."

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