Gene therapy

A new multimillion dollar drug

A lab technician prepares to thawing blood bag before genetically modifying a patients immune cells
A lab tech thaws a blood bag before genetically modifying a patient's immune cells. Photo: Gerard Julien/AFP via Getty Images

BioMarin Pharmaceutical is eyeing a $2 million–$3 million price tag for its hemophilia gene therapy if it's approved, which could make it the world's most expensive drug, the Wall Street Journal reports.

Why it matters: It's a good reminder that today's pipeline is likely to cause a giant shock to the health care system over the next few years.

Health care industry grapples with staggering gene therapy costs

Data: CVS Health; Table: Axios Visuals

The gene therapy pipeline contains several drugs that are likely to cost the health care system billions of dollars in the near future, according to an a new CVS white paper.

The big picture: Drugmakers are already having to come up with creative ways to get paid for high-cost drugs, the Wall Street Journal reported yesterday, and that's before these new gene therapies hit the market.