Novartis' $475,000 cancer breakthrough heralds new era of cures

Novartis's arrangement to pay only if patients respond to the drug as a huge breakthrough

The approval of Novartis AG’s breakthrough therapy for a deadly form of leukemia opened the door to a new class of treatments even as its $475,000 price tag reignited the debate on how to value potentially life-saving drugs.

Demonstrating its willingness to clear medicines faster, the US Food and Drug Administration on Wednesday approved a radical new one-time treatment from the Swiss drugmaker, weeks earlier than expected. The move heralds acceptance of a promising, potentially curative approach for cancers, genetic diseases and other severe disorders.

“We’re entering a new frontier in medical innovation with the ability to reprogram a patient’s own cells