FDA approves Bristol Myers Squibb’s schizophrenia drug, the first new type of treatment in decades

CNBC September 26, 2024
Annika Kim Constantino

Key Points

– The Food and Drug Administration approved Bristol Myers Squibb’s highly anticipated schizophrenia drug, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades.

– The company expects the twice-daily pill, which will be sold under the brand name Cobenfy, to be available in late October.

– Cobenfy will cost $1,850 for a month’s supply or $22,500 annually before insurance and other rebates, according to Bristol Myers Squibb executives.

The Food and Drug Administration on Thursday approved Bristol Myers Squibb‘s highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades.

Schizophrenia affects how a person thinks, feels...

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