PALO ALTO, Calif. (AP) -- Affymax Inc. and Takeda Pharmaceuticals said Friday that Medicare created a special reimbursement code for their anemia drug Omontys.
The companies said the code will make it simpler for dialysis organizations to get reimbursement from the Centers for Medicare and Medicaid Services after they treat patients with Omontys. The code will go into effect July 1.
Omontys is a once-per-month injection designed to treat anemia caused by chronic kidney disease. The Food and Drug Administration approved Omontys for use in adults on March 27.
Shares of Affymax rose 11 cents to $11.43 in morning trading. Its shares peaked for the past 52 weeks at $16.26 in late March. They have almost tripled from their low of $3.93 in mid-August.