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Opdivo's price halved in Japan

Published 11/17/2016, 12:11 PM
Opdivo's price halved in Japan
BMY
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OPHLY
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  • Prompted by political pressure related to its over-stretched healthcare budget, Japanese authorities have cut the price of Bristol-Myers Squibb's (BMY +1.3%) blockbuster cancer med Opdivo by 50% more than a year ahead of its regularly scheduled once-every-other year price review. The annual cost per patient will be ~$160K compared to the current cost of $320K.
  • The in-country price was bullish to begin with, running twice as much as the U.S. and five times more than the UK.
  • Distributor Ono Pharmaceutical (OTC:OPHLF)(OTCPK:OPHLY) is down 2% on the news since Opdivo accounts for $1.2B in annual sales in Japan.


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