UCLA have discovered a drug revolutionary drug against prostate cancer. The drug has been making headlines for its high price and the government-funding controversy. Find out all you need to know about Xtandi Medivation prostate cancer drug today.
The drug costs $ 129,000 per year
The drug named Xtandi was introduced a year after Johnson & Johnson launched Zytiga, which works in a similar way to Xtandi .
The prostate drugs that fight cancer are able to affect testosterone levels – the same type of testosterone allowing the spread of prostate cancer. These drugs affect testosterone in different ways.
Zytiga is and probably will remain the drug against prostate cancer more popular in the US, but many believe that Xtandi soon overtake your competitor.
Xtandi is said to be best drug because it has the same reports of negative side effects, such as high blood pressure. In addition, patients taking Zytiga need to take another medication called prednisone.
non-profit groups are asking the government to make cheaper Drug
One of the biggest controversies of the Xtandi is its ridiculously high price tag. non-profit groups are mobilizing to ask government agencies to intercede and make the drug more affordable.
An interesting note is that the drug was created and developed thanks to funding from the federal government that was given to UCLA in the form of a grant.
From the date of this written two other groups nonprofit have asked the federal government to provide other pharmaceutical companies, the right to sell Xtand, this would create a competition that clearly result in a lower price .
discovered using taxpayer-funded grants
These non-profit groups are arguing loudly that the government has a duty to intercede and allow competition from lower prices. Because the research team of UCLA scientists were only able to create the drug because of the federal subsidy that is financed with taxpayer money.
Government denies Requests Non-profit at lower prices organizations
Plans to develop Xtandi began at UCLA in the 2000s, when a professor of medicine learned why cancer prostate do not respond to traditional cancer medication.
Then, in early 2005, UCLA was able to license patent then experimental drug. A few years later, in 2012, the FDA finally approved Xtandi.
In the biggest deal UCLA History
As is the University and scientists behind the drug turned and the drug is sold to a cash payment of $ 1.14 million with the stipulation that they would also receive a share of future sales of Xtandi.
Medivation is going through a bidding war
Medivation, is the name of the parent drug. From the time of this writing, there seems to be a war of crazy deals. The French pharmaceutical giant Sanofi-called Mega has made an introductory offer of $ 9.3 billion for the company. This results in a price of $ 52.50 per share.
And this is where the drama began, in the light of bitter rejection by French media giant, Sanofi waged war. The Los Angeles Times reported that Sanofi “embarked on a campaign to try to oust the board of the company,” reports Los Angeles Times . However, it seems that this has not worked, as Medivation has not changed ownership.
Medivation was able to use the information it had reached when a confidentiality agreement with Pfizer and Celgene was signed. This is what allows a company to study the private information of a desired target. And this is what is done before negotiating an agreement.
Sanofi has offered and more, in fact, the company has increased its offer to $ 58 per share, but the offer was rejected.
Medivation expects to attract higher bids based on the potential of its portfolio. Sanofi’s latest offer also included an additional clause of $ 3 per share based on the near future approval of the drug treatment of breast cancer Medivation.
Cancer Business is booming in the United States
The bidding war on Xtandi is being used to highlight the booming business of cancer in the United States. As the LA Times explains, “companies charge prices that would be enough to buy a house in some parts of the country,” referring to the $ 129,000 price tag in the year Xtandi.
Spending on cancer drugs in the United States increased by 18% in 2015, increased by $ 39 billion.