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A mom was overjoyed when she learned a drug could save her baby's life. Then she learned it cost $2 million. [CBS News]

Sarepta Therapeutics, Inc. (SRPT) 
Last sarepta therapeutics, inc. earnings: 2/26 04:05 pm Check Earnings Report
Company Research Source: CBS News
In 2019, a genetic therapy was approved by the Food and Drug Administration to treat SMA, but the single-dose therapy costs $2 million. Green's insurance said it wouldn't pay for the new, expensive drug. "I became very angry, to know that there was something that could help her. And I knew without a shadow of a doubt I was burying my daughter before she was 2," Green said. The Zolgensma medication Maisie needed is part of a new breakthrough class of gene therapies often treating rare diseases where patients have few, if any options. But, as the high-cost drugs treat more common diseases, they could have wider impacts on the U.S. health care system. "I liken it to a coming tsunami, which is basically gonna overwhelm the employer-sponsored insurance system," said economist Jonathan Gruber, who helped develop the Affordable Care Act. Today, more than 300 high-cost genetic therapies are in clinical trials, and some are aimed to treat diseases suffered by millions. Companies who pr Show less Read more
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