TG Therapeutics gains after reimbursement win for multiple sclerosis therapy
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- TG Therapeutics (NASDAQ:TGTX) shares ended a two-day slide on Thursday after announcing that the U.S. Centers for Medicare & Medicaid Services (CMS) issued a permanent J-Code for its new multiple sclerosis therapy Briumvi.
- Commercial insurance plans and government payers use product-specific reimbursement codes called J-Codes for Medicare Part B drugs to simplify claims submission and documentation.
- Briumvi J-code (J2329) is set to take effect in July, the company added.
- “Once in effect, the permanent J-Code will provide a streamlined and efficient reimbursement process, which we believe will facilitate additional patient access,” TG Therapeutics (TGTX) Chief Executive Michael Weiss remarked.
- In December, the FDA approved Briumvi for certain adults with relapsing forms of multiple sclerosis, and the company launched the product this year at an annualized maintenance price of $59K.
- “We are encouraged by the early launch of BRIUMVI and look forward to sharing additional details on our first quarter earnings call,” Weiss noted.