Johnson & Johnson's Prostate Cancer Drug Erleada Wins NICE Approval - Johnson & Johnson (NYSE:JNJ)

Following a deeper discount, Johnson & Johnson JNJ has secured reimbursement in England for its prostate cancer drug Erleada (apalutamide).
Less than four months ago, the National Institute of Health and Care Excellence (NICE) rejected Erleada, even though it was offered in England below its list price of £2,735 ($3,765) for a supply of 112 tablets.
"We are very pleased that Janssen has been able to work with us to address the uncertainties in the evidence identified by the committee in the previous draft guidance," NICE's deputy chief executive Meindert Boysen said in a statement.
Erleada, a once-daily oral androgen receptor inhibitor, works by blocking the effect of testosterone on prostate cancer cells.
NICE estimates that 8,000 patients deemed unsuitable for standard chemotherapy will be eligible for treatment with the drug.
Price Action: JNJ shares are down 0.27% at $171.85 during the market session on the last check Wednesday.