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Bluebird Bio’s Gene Therapy Is $1.8 Million Per Patient. The Stock Is Falling.

Josh Nathan-Kazis

(BLUE) will sell a gene-therapy treatment for the disease beta-thalassemia for $1.8 million per patient, but the money won’t start coming in as soon as expected. The drug, Zynteglo—the second-most-expensive in the world, according to The Wall Street Journal—received conditional marketing authorization from the European Union early this month. The treatment has yet to be approved by the Food and Drug Administration.