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Macular Degeneration

CMS raises Medicare allowable reimbursement rate for Visudyne

Published in Managed Care Weekly Digest, April 12th, 2004

QLT Inc. (QLTI) and Novartis Ophthalmics, the eye health unit of Novartis Pharma AG (NVS), announced that the U.S. Centers for Medicare and Medicaid Services (CMS) has raised the Medicare allowable reimbursement rate for Visudyne.

The rate moved from approximately $1,304 to $1,404, as part of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 - this rate was determined using the Average Selling Price for Visudyne in Q4 2003 +6%.

In December 2003 and January 2004, QLT and Novartis provided information to CMS requesting an exception to the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 and an appropriate...

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