Vertex Pharmaceuticals has increased the price of its cystic fibrosis therapy Orkambi for the first time, Boston Business Journal reported Wednesday.
According to Cowen & Co. analyst Phil Nadeau as well as a company spokesperson, the price of the drug was increased by 5 percent to about $273 000 per year before discounts.
The therapy, which was cleared by regulators in July 2015, generated $980 million in sales last year.
Vertex has also only raised the price of its second cystic fibrosis drug, Kalydeco, by 4.5 percent in January 2013.
The drugmaker received criticism earlier this year for lobbying federal regulators to omit ballot questions on price transparency from their annual meetings.
Last month, shareholders rejected a proposal that would have required the company to disclose information regarding its lobbying efforts.