The British National Institute for Health and Clinical Excellence (NICE) decides that Roche's (OTCQX:RHHBY) breast cancer drug Kadcyla (ado-trastuzumab emtansine) is too expensive for routine use by the National Health Service despite the company's offering of a discount.
NICE determines what drugs will be used by the NHS. It originally called for the company to reduce the price back in April. Kadcyla is a treatment for women with refractory metastatic HER2-positive breast cancer where surgical resection is not an option. It costs almost 91,000 pounds ($152,800) for a full course of treatment.
Roche says it has offered a significant discount and will appeal NICE's decision.