Celgene, on the same day it announced it would be acquired by Bristol-Myers Squibb, raised the price of its top cancer treatment Revlimid by 3.5 percent, according to Bloomberg.
Here are four things to know:
1. Celgene raised the price of its top-selling cancer drug to $719.82 for a 10-milligram dose. Cancer patients need multiple doses of Revlimid per year, so the costs can add up to $200,000 annually.
2. The same dose of Revlimid cost $247.28 at the end of 2007.
3. The Summit, N.J.-based biotech company also raised the price of a psoriasis therapy Otezla, cancer treatment Abraxane and two other drugs by 3.5 percent.
4. The price hikes flew under the radar as the drugmaker announced the same day its intent to be acquired by Bristol-Myers for $74 billion, one of the largest deals in pharma history.