Oncopeptides announces successful price negotiations for Pepaxti in Germany
Stockholm – September 26, 2023 – Oncopeptides AB (publ), a biotech company focused on difficult-to-treat cancers, today announces that following negotiations between Oncopeptides and the German Federal Joint Committee National Association of Statutory Health Insurance Funds (GKV-Spitzenverband), a reimbursed price for Pepaxti has been agreed on in Germany. The negotiated reimbursed price in Germany, which will also guide negotiations in other European markets, is reflective of the innovation Pepaxti brings to the market, and in line with the company´s financial projections.
“Germany’s system for setting reimbursed prices is designed to balance the need for patient access to innovative medicines, ensure the financial sustainability of the healthcare system, and provide fair returns to pharmaceutical manufacturers for their innovations. We are happy that we have been able to agree on a price that we believe reflect the innovative nature of Pepaxti and is fair,” says Sofia Heigis, CEO of Oncopeptides. “Given the complexities of commercializing a drug within the EU, achieving a fair price cannot be taken for granted, and we see this step as a confirmation of the already strong belief we have in our product, and it allows us to continue our ambitious commercialization effort across Europe.”
Several factors decide the reimbursed price of a new drug, including the innovation the drug adds and the existence of existing treatments (comparators) for the same condition in the same line of treatment. The negotiated price is valid for Pepaxti in its current indication.
For more information, including a Q&A for investors, please visit Oncopeptides’ web site.
For more information, please contact:
David Augustsson, Director of Corporate Affairs, Oncopeptides AB (publ)
Cell phone: +46 76 229 38 68
Oncopeptides is a biotech company focused on research, development, and commercialization of therapies for difficult-to-treat hematological diseases. The company uses its proprietary Peptide Drug Candidate platform (PDC) to develop compounds that rapidly and selectively deliver cytotoxic agents into cancer cells.
Pepaxti® (melphalan flufenamide, also called melflufen) has been granted Marketing Authorization, in the European Union, the EEA-countries Iceland, Lichtenstein and Norway, as well as in the UK. Pepaxti is indicated in combination with dexamethasone for the treatment of adult patients with multiple myeloma who have received at least three prior lines of therapies, whose disease is refractory to at least one proteasome inhibitor, one immunomodulatory agent, and one anti-CD38 monoclonal antibody, and who have demonstrated disease progression on or after the last therapy. For patients with a prior autologous stem cell transplantation, the time to progression should be at least 3 years from transplantation. Melflufen has been granted accelerated approval in the US under the trade name Pepaxto®. The drug is currently not marketed in the US.
Oncopeptides is developing several new compounds based on its proprietary technology platforms and is listed on the Small Cap segment on Nasdaq Stockholm with the ticker ONCO. For more information see: www.oncopeptides.com.