Cigna announced a plan to fully cover expensive gene therapies, as reported NASDAQ Thursday.
The news comes as Novartis and Spark Therapeutics have received criticism over high prices of their gene therapies Zolgensma and Luxturna, respectively
The news also follows a report that Cigna's Express Scripts unit had entered into negotiations last year to become the exclusive distributor of gene therapies for select companies.
Guggenheim analyst Whitney Ijem suggested that the addressable market for ongoing gene therapy development programmes could be as large as 2.4 billion patients globally, with further growth anticipated.
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