Aetna CFO says spent $30 mln on Sovaldi in Q1, as expected

Aetna CFO says spent $30 mln on Sovaldi in Q1, as expected
April 24 Thu Apr 24, 2014 7:00pm IST

(Reuters) - Aetna Inc. spent about $30 million during the first quarter on Sovaldi, the pricey new hepatitis C treatment from Gilead Sciences Inc., Chief Financial Officer Shawn Guertin said on Thursday during a conference call with investors.

Guertin said the costs were in line with the company's expectations. Most of it was in its commercial business and in Medicare Part D, the government program in which private insurers manage drug benefits.

Medicaid-related Sovaldi costs accounted for the smallest portion of that $30 million, he said, as some states continue to develop policies on the drug and because some states where it operates do not use private insurance to pay for any pharmaceutical benefits. (Reporting by Caroline Humer; Editing by Chizu Nomiyama)

Source - Reuters