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Nov. 20, 2019, 4:54 p.m. EST

Alnylam shares jump on FDA approval

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By Jaimy Lee

Shares of Alnylam Pharmaceuticals Inc. /zigman2/quotes/205655272/composite ALNY +0.26% were up 9% in afternoon trading after the Food and Drug Administration approved Givlaari, its treatment for acute hepatic porphyria, a rare, genetic metabolic disorder. Patients in the clinical trial who took the drug had fewer porphyria attacks than patients taking a placebo. The annual list price for Givlaari is $575,000 and is dependent on a patient's weight. The biopharmaceutical company also said Wednesday that it has reached a value-based agreement in principle with Harvard Pilgrim, in which the health plan will pay full price for the therapy only if the real-world results match the trials. There are about 3,000 potential patients who have been diagnosed with the genetic disease in the U.S. and Europe, making it an ultra-rare orphan disease. (An orphan disease affects fewer than 200,000 people worldwide.) Alnylam stock has jumped 50% year-to-date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.78% has rallied 24%.

/zigman2/quotes/205655272/composite
US : U.S.: Nasdaq
$ 160.42
+0.42 +0.26%
Volume: 851,796
July 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$18.37 billion
Rev. per Employee
$70,336
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/zigman2/quotes/210599714/realtime
US : S&P US
3,169.94
+24.62 +0.78%
Volume: 2.39B
July 8, 2020 4:58p
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