The Food and Drug Administration approved a treatment called Palforzia from Aimmune Therapeutics on Friday that would help treat those with peanut allergies.
Why it matters: Food allergies have been on the rise among children and adults, some with life-threatening conditions that cause an anaphylactic reaction from exposure.
Details: For children ages 4 to 17, the new therapy derived from peanut powder will be prescribed, and mixed it into their food everyday to build up a resistance.
- Patients and their caregivers still must carry injectable epinephrine.
- Aimmune set the price of Palforzia at $890 per month, or nearly $11,000 per year.
- Roth Capital Research analyst Zegbeh Jallah says the Palforzia could generate annual sales of $1 billion by 2026, the Wall Street Journal reports.