The FDA has approved Bristol Myers Squibb’s new schizophrenia drug, Cobenfy, the first novel treatment for schizophrenia in over 70 years. Schizophrenia affects nearly 3 million U.S. adults, but only 1.6 million receive treatment. Many discontinue medication due to side effects or ineffectiveness. Cobenfy offers a new approach by targeting receptors in the brain without directly blocking dopamine, which can cause side effects. Cobenfy will cost over $1,800 per month, but Bristol Myers Squibb expects minimal out-of-pocket costs for most patients, as 80% are covered by government insurance.
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00:00It's Benzinga, and here's what's on the block.
00:02The FDA has approved Bristol-Myers Squibb's new schizophrenia drug, Copenfi, the first
00:07novel treatment for schizophrenia in over 70 years.
00:11Schizophrenia affects nearly 3 million U.S. adults, but only 1.6 million receive treatment.
00:16Many discontinue medication due to side effects or ineffectiveness.
00:20Copenfi offers a new approach by targeting receptors in the brain without directly blocking
00:24dopamine, which can cause side effects.
00:27Copenfi will cost over $1,800 per month, but Bristol-Myers Squibb's expects minimal
00:31out-of-pocket costs for most patients, as 80% are covered by government insurance.
00:36For all things money, visit Benzinga.com.