Medicare to cover Dendreon's prostate drug
Jun 30, 2011, 4:27 p.m.
WASHINGTON (Reuters) - The Medicare health insurance program will fully cover Provenge, Dendreon Corp's expensive treatment for advanced prostate cancer, U.S. regulators said on Thursday.
The U.S. Centers for Medicare and Medicaid ruled on Thursday there is adequate evidence to pay for Provenge and it is "reasonable and necessary" for treating men with advanced prostate cancer whose disease has spread.
Medicare coverage of Provenge, which costs $93,000 for a course of treatment, is of critical importance since the disease strikes mostly older men. The federal health insurance program covers those aged 65 and older along with the disabled, and about 40 percent of its 46 million enrollees are men.
(Reporting by Anna Yukhananov; Editing by Phil Berlowitz)