US pricing watchdog says Rytelo is too expensive

The Institute for Clinical and Economic Review (ICER) has published its final evidence report evaluating the clinical effectiveness and value of Rytelo (imetelstat), raising concerns about the drug's net health benefits and its high cost.

Developed by Geron Corporation (Nasdaq: GERN), the therapy was recently approved in the USA for the treatment for anemia in patients with low- to intermediate-risk myelodysplastic syndrome (MDS).

The approval followed promising results from the IMerge clinical trial, which demonstrated that around 40% of patients treated with imetelstat achieved red blood cell transfusion independence for at least 8 weeks, compared to 15% in the placebo group.