Bristol Myers Squibb launches Sotyktu at an 86% discount, reducing the price to $950 for cash-paying U.S. patients.
• Bristol Myers Squibb launches Sotyktu at an 86% discount.
• Discounted price targets uninsured or underinsured U.S. patients.
• Initiative bypasses pharmacy benefit managers and insurers.
Bristol Myers Squibb has announced a significant price reduction for its psoriasis drug, Sotyktu, offering it directly to cash-paying U.S. patients at an 86% discount. This move comes amid pressure from the Trump administration to lower drug costs and align domestic prices with those in comparable high-income countries. The new program will reduce the monthly cost of Sotyktu to $950, down from its current list price of $6,828. The initiative is set to begin in January through Bristol’s direct-to-patient platform, BMS Patient Connect.
The decision to offer Sotyktu at a reduced price is part of a broader strategy to address affordability issues for patients who are uninsured or underinsured. By bypassing traditional pharmacy benefit managers and insurers, Bristol aims to make the drug more accessible to a small percentage of patients who might otherwise struggle to afford it. Sotyktu is approved for the treatment of moderate-to-severe plaque psoriasis in adults.
This pricing strategy is not entirely new for Bristol Myers Squibb. The company, in collaboration with Pfizer, also offers its blood thinner Eliquis at a more than 40% discount to cash-paying patients. This approach reflects a growing trend among pharmaceutical companies to explore alternative pricing models in response to regulatory pressures and market demands.
The impact of this initiative on the market could be significant. By offering substantial discounts directly to patients, Bristol may set a precedent for other pharmaceutical companies facing similar pressures. The move could also influence the competitive landscape, as rivals may need to consider similar strategies to maintain market share.
Looking ahead, Bristol Myers Squibb’s decision could have broader implications for the pharmaceutical industry. As companies navigate the complexities of pricing and access, innovative approaches like this may become more common. For more updates on Market Access, visit our Market Access section.