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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 -2.46% 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 -0.32% has rallied 24%.

US : U.S.: Nasdaq
$ 120.71
-3.05 -2.46%
Volume: 533,403
Dec. 9, 2019 4:00p
P/E Ratio
Dividend Yield
Market Cap
$13.46 billion
Rev. per Employee
-9.95 -0.32%
Volume: 1.60B
Dec. 9, 2019 5:16p

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