BioMarin Announces Agreement With German Health Insurance Fund On Reimbursement Amount For ROCTAVIAN For Severe Hemophilia A In Germany
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BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has reached an agreement with the German National Association of Statutory Health Insurance Funds on the reimbursement for ROCTAVIAN, a gene therapy for severe hemophilia A. This marks the first gene therapy for hemophilia with an approved federal price in Germany. The therapy is priced at €28,933.53 per vial, approximately $900,000 per patient. The agreement includes an outcome-based model tied to real-world data and has a minimum term of 3 years. Two patients in Germany have received ROCTAVIAN, and 60 are eligible for treatment. BioMarin is also negotiating the final price with the Italian Medicines Agency and is working with U.S. payers to increase access to ROCTAVIAN.
November 28, 2023 | 1:31 pm
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NEUTRAL IMPACT
The agreement between BioMarin and the German health insurance may indirectly affect the iShares MSCI Germany ETF (EWG) by potentially influencing the healthcare sector within the German market.
While the agreement is a positive development for BioMarin, its direct impact on the broader German market and the iShares MSCI Germany ETF (EWG) is likely to be limited. The healthcare sector is just one component of the ETF, and the effect of a single product's reimbursement agreement may not be substantial enough to significantly move the ETF's price in the short term.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
BioMarin's agreement with German health insurers for ROCTAVIAN reimbursement is a significant commercial milestone, potentially boosting revenue as it facilitates access for the estimated 2,000 adults with severe hemophilia A in Germany.
The reimbursement agreement in Germany is likely to have a positive short-term impact on BioMarin's stock price as it ensures payment for ROCTAVIAN, which is priced at a significant amount per patient. The outcome-based model and the ongoing negotiations in Italy also indicate potential for further European market penetration. Additionally, the progress with U.S. payers suggests an expanding market in the U.S., which could contribute to increased investor confidence in the company's revenue growth.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100