In an unprecedented move, a government panel decided Wednesday to cut the official price of cancer drug Opdivo by 50 percent, amid fears that widespread use of the newly approved and super-expensive drug could drain state coffers.
The Central Social Insurance Medical Council, better known as Chuikyo and comprised of medical interest group representatives, decided on the emergency price-cutting measure targeting Opdivo, an anti-cancer drug developed by Ono Pharmaceutical Co.
The drug, which stimulates the body's natural immune system to fight off tumors, was initially approved for use among a small number of patients with advanced melanoma, but was expanded last year to patients with lung cancer, who number in the tens of thousands.