Employing its pricing-by-committee approach to setting drug prices, Valeant Pharmaceutics (NYSE:VRX) announces that the list price for injectable plaque psoriasis medication SILIQ (brodalumab) will be $3,500 per month. The company says it is the lowest price on the market for an injectable biologic to treat the skin condition. U.S. commercial launch will commence in H2.
Valeant established its Patient Access and Pricing Committee a year ago amidst criticism over its aggressive price hikes.
Shares are down 1% premarket after several sell-side shops cut price targets.