Healthcare & Pharmaceuticals

UnitedHealth says needs more information to decide on coverage policy for Biogen's Alzheimer's drug - CEO

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A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson/Illustration/File Photo

NEW YORK, July 15 (Reuters) - UnitedHealth Group Inc (UNH.N) said on Thursday that it is still developing its coverage policy for Biogen Inc.'s (BIIB.O) Alzheimer's drug Aduhelm, which was recently approved by the U.S. regulator.

UnitedHealth said it is awaiting guidance on coverage from the Centers for Medicare and Medicaid Services, which runs the healthcare program for Americans aged over 65. UnitedHealth sells private Medicare Advantage plans.

"I think this has some way to go before we get to clarity so I wouldn't guide you to expect very rapid decision making on this," UNH Chief Executive Officer Andrew Witty said during a conference call with analysts.

The approval sparked controversy because of division over the drug's efficacy and its $56,000 per year price tag.

Reporting by Manojna Maddipatla in Bengalaru

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