Hate to be the messenger of bad news but Bloomberg reports Medicare wont cover scans using Amyvid unless the individual was part of an approved clincal trial on Alzheimer's Disease.We was hoping to ride Eli Lily's coattails and open the door of coverage before Navidea's own drug attempts to make it to market in a few years...
Not great news for NAVB tonight-Any light at end of tunnel on this?
This ruling makes complete sense. Right now, Amyvid can help in the diagnosis but is not really the ultimate diagnosis of alzheimers, and it has no ability to treat the disease. It makes sense for the people paying to draw the line at "we'll pay if you're using it in a clinical trial, but since it can't directly diagnose or treat the disease we won't pay for it otherwise". I'm sure there's opportunities to reapply, but I think they would be foolish to cover this for people to just test willy nilly now. If Amyvid could give a firm diagnosis, it would be worth it.
hey sexy...I think once we have a disease modifying drug for Alzheimers..(which i think we will in the next few years..my bet is on prana biotech:)) AND we have a better diagnostic (like NAV4694) it will put tremendous pressure on Medicare and insurance companies to cover this procedure....jmo
Sexy - Look at it this way... At least Eli Lily is the one who got the bad news and not NAVB. By the time NAVB4694 is on the market this medicare issue will be all Ironed out.
Eli Lily will not just stop, they will continue reapplying... they will continue to prove it to medicare that they should cover it as medically necessity.
Sentiment: Strong Buy
Maybe if NAVB's drug shows superiority? Or possible before drug makes it to market,maybe more studies will convince insurers that amyloid plaque is more likely than not linked directly to Alzheimer' Disease?
Medicare doesnt believe that right now..
Would be nice if Navidea announces a huge deal with an EU partner for Lymphoseek next Monday or Tuesday as a diversion away from tonight's news.Right now anways, Lymphoseek is more important for the stabilization of the company than any drug in their pipeline..