Peanut allergy treatment 'just the beginning' for Aimmune, the company who invented it, CEO says
Aimmune Therapeutics (AIMT), which on Friday received U.S. Food and Drug Administration approval for its peanut allergy treatment that’s billed as the first of its kind, is already pursuing an ambitious roll-out strategy.
The drug, Palforzia, can be used for children aged 4-17, and has a list price of $890 per month— but could cost patients far less based on a $20 co-pay program the company is launching. While it isn’t a cure for the allergy, it does aim to provide a greater level of confidence for patients, according to Aimmune.
“What we’re trying to do here is protect these children from accidental exposure out there in the real world,” Aimmune CEO Jayson Dallas told Yahoo Finance “On the Move” in an interview on Monday.
The company is offering more controlled dosage to help alleviate any allergic reactions over time, and target specific allergens that lead to a reaction.
The CEO added that Aimmune’s team “is ready to begin engaging with allergists to help them prepare to safely incorporate Palforzia into their practices.
“We view this approval as just the beginning for Aimmune, and it underscores our continued commitment to bringing innovative treatments to people with potentially life-threatening food allergies,” he said.
Next steps
Aimmune’s treatment mimics a type of therapy already in use by some patients. It introduces tiny amounts of peanut protein over a six-month period, under medical supervision known as oral immunotherapy.
The therapy requires physician supervision and monitoring of patients for any allergic reactions. This helps to reduce the emergency room visits that families are likely to experience, Dallas said.
The peanut allergy market alone is $4.2 billion, and affects about 1 million children, according to the FDA — and only 1 of 5 will outgrow the allergy.
Because there isn’t a cure, it places the burden on parents and children to “strictly avoid exposure to prevent severe and potentially life-threatening reactions,” Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research, said in a statement last week.
Aimmune is using a targeted approach to launch the product, working with 1,300 clinics to launch with, ensuring that all clinicians are trained and understand how the product works.
The company is also using a specialty pharmacy network to distribute the drug, and has been in talks with insurers since last year to get it covered. However, Palforzia isn’t yet listed on any formularies, something it hopes will happen in about six months.
Dallas told Yahoo Finance that “...with approval in hand, our payer team can also immediately begin work to secure formulary access to Palforzia,” Dallas said.
Aimmune was one of two companies pursuing a treatment. Competitor DBV Technologies has been working on a patch that would similarly incrementally desensitize patients to the allergens.
Anjalee Khemlani is a reporter at Yahoo Finance. Follow her on Twitter: @AnjKhem
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