(Reuters) - Catalyst Pharmaceuticals Inc, targeted by U.S. Senator Bernie Sanders for its high drug prices, said on Thursday that prices of its treatment for a rare neurological disorder were "in line" with similar products in the industry.
Sanders had earlier this month written to the Florida-based drugmaker asking it to justify its $375,000-per-year price for Firdapse, a medication that for years has been available for free.
The company said that Firdapse's price was similar to other products that provide a significant clinical benefit in treating ultra-rare diseases like Lambert-Eaton Myasthenic Syndrome (LEMS), a rare neuromuscular disorder.
It said the pricing was also in line to properly compensate companies for costs associated with developing and marketing such a drug.
Catalyst said https://bit.ly/2NkmIRU it spends "millions of dollars per year" evaluating Firdapse in clinical trials testing it in other diseases.
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The company said it believed the drug, approved in November last year, would be widely reimbursed by insurers for the small population it treats.
Physicians can write a prescription where Firdapse will be delivered to a patient's door and in most cases at an out-of-pocket cost of less than $10 per month, Catalyst said.
(Reporting by Manas Mishra in Bengaluru; Editing by Sai Sachin Ravikumar and Arun Koyyur)
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