New drug treating rare form of blindness costs $850,000

Spark Therapeutics is charging $850,000 for its recently approved gene therapy drug, Luxturna, which treats a rare eye condition that leads to blindness. The actual price will be lower after Spark negotiates discounts with health insurers, but uninsured patients and people with high deductibles and coinsurance rates pay based on the list price.

Why it matters: Luxturna is now the most expensive drug on the market, although many other rare-disease drugs also cost more than $500,000.