In 2017, the FDA approved the first gene therapies for use in the United States, and dozens more are expected to gain approval in the years ahead.
| WASHINGTON, Feb. 12, 2019 /PRNewswire/ -- Today, the American Consumer Institute (ACI) announced the release of its latest ConsumerGram, highlighting the promise of new gene replacement therapies and urging health care stakeholders to develop innovative ways of financing these important treatments.
The report, authored by Dr. Joseph Fuhr, Liam Sigaud and Steve Pociask, describes the economic benefits of gene therapies, which unlike most conventional treatments, can deliver lifesaving cures for debilitating genetic disorders by fixing their underlying causes. In 2017, the FDA approved the first gene therapies for use in the United States, and dozens more are expected to gain approval in the years ahead. Despite high upfront costs, gene therapies generate significant savings by replacing expensive long-term pharmaceutical treatments, reducing hospitalizations, preventing further health deterioration, and improving patients’ quality of life. For example, a gene therapy for severe hemophilia is expected to cost about $1 million per patient but will pay for itself in less than two years. “Curing a disease, rather than treating it, can save insurers and taxpayers money in the long-run, even if the initial investment is significant, and provide an immense improvement to longevity and quality of life,” said Dr. Joseph Fuhr. However, under the present healthcare system, insurance companies are often reluctant to pay for therapies that have high upfront costs and whose benefits are spread over a lifetime. To read the study, visit our website or follow us on Twitter @ConsumerPal.
SOURCE American Consumer Institute |
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