A lab technician opens a cryogenic container at the Paoli-Calmettes Institute cancer care center in Marseille, France. Photo: Gerars Julien/AFP/Getty Images

Dozens of potentially revolutionary gene therapies are in the development pipeline, but we haven't yet figured out how to pay for them, Bloomberg reports.

Details: These drugs are expected to launch with extremely high prices, which are partially justified by the fact that they're designed as cures for diseases that are currently treated long-term. But that doesn't mean we know how to pay these huge sums in one sitting.

What they're saying: Vas Narasimhan, CEO of Novartis, said that one possible solution could be installment payments, per Bloomberg.

  • The company plans to use installments for Zolgensma, a gene therapy for spinal muscular atrophy that's expected to get approval soon.
  • Analysts expect its price to be $2 million, the first multimillion-dollar drug in the U.S.

The big picture: The FDA expects to approve as many as 20 cell- and gene-therapy drugs each year by 2025. Many of these drugs could have list prices in the millions.

  • “If we get to a point where these therapies become available not only in very rare conditions but in substantial patient populations, multimillion-dollar prices are not going to be in any way sustainable,” Nick Crabb, scientific-affairs director at the National Institute for Health and Care Excellence, told Bloomberg.

Go deeper: The drug pricing debate is stuck in the past

Go deeper

Updated 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 31,175,205 — Total deaths: 962,076— Total recoveries: 21,294,229Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 6,829,956 — Total deaths: 199,690 — Total recoveries: 2,590,695 — Total tests: 95,121,596Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

McConnell: Senate has "more than sufficient time" to process Supreme Court nomination

Senate Majority Leader Mitch McConnell (R-Ky.) said in a floor speech Monday that the chamber has "more than sufficient time" to confirm a replacement for Supreme Court Justice Ruth Bader Ginsburg before the election, and accused Democrats of preparing "an even more appalling sequel" to the fight over Brett Kavanaugh's confirmation.

Why it matters: Senate Minority Leader Chuck Schumer (D-N.Y.) has said "nothing is off the table next year" if Republicans push ahead with the confirmation vote before November, vowing alongside Rep. Alexandria Ocasio-Cortez (D-N.Y.) to use "every procedural tool available to us to ensure that we buy ourselves the time necessary."

House Democrats file legislation to fund government through Dec. 11

House Speaker Nancy Pelosi (D-Calif.). Photo: Chip Somodevilla/Getty Images

House Democrats on Monday released their proposal for short-term legislation to fund the government through December 11.

Why it matters: This is Congress' chief legislative focus before the election. They must pass a continuing resolution (CR) before midnight on Oct. 1 to avoid a government shutdown — something both Hill leaders and the White House have claimed is off the table.