Pharmaceutical company Elan is to raise the wholesale price of its multiple sclerosis treatment Tysabri following its approval by US regulators earlier this week.
The wholesale price will be $2,185 per vial, up 21% on its original launch price. Elan and its partner Biogen expect Tysabri to be available in July in the US.
The US Food & Drug Administration cleared the way on Monday for the drug to return to the market with some restrictions. Tysabri was withdrawn last year when it was linked to a rare and potentially fatal brain disease.
Davy analyst Jack Gorman said the price increase took account of general price inflation in the intervening period, and the additional costs associated with the drug's return.
Elan shares inched three cent higher to close at €12.38 in Dublin this evening.