Bio said last week its recently approved diabetes drug, teplizumab, would cost $13,850 a vial.
The US Food and Drug Administration (FDA) approved use of the drug, to be sold under brand name Tzield, for delaying the onset of insulin-dependent type-I diabetes, which is less common than type-II of the disease, for people aged eight years and above.
A 14-day regimen of the drug would translate to a price of $193,900, the company said on a conference call.
In October, Provention signed a co-promotion deal for the drug with Sanofi, offering the French drugmaker first negotiation for exclusive global rights to commercialise the drug in exchange for an upfront payment of $20 million.
As per the deal, the approval also allows Sanofi to purchase up to $35 million of Provention’s common shares.