More good news for Dendreon today as Medicare, after almost 1 year's consideration, announced it will reimburse healthcare providers who presecribe Provenge for the treatment of prostate cancer. The price for a single course of treatment is $93,000.
The Centers for Medicare and Medicaid said Provenge is a "reasonable and necessary" medicine. The agency will still accept comments for 90 days on the decision before making it final (finally!). Medicare should issue a temporary reimbursement code today that will make claims easier to process -- within 30 days versus closer to 90 now. See Xconomy.
This is all good news for Dendreon, its patients and investors as the company looks to make good on a forecast of $350 to $400 million in 2011. All the more reason to be happy about its newest LA plant coming on line and its next plant in Atlanta expected in August.
Posted by Bruce Lehr July 1st 2011.