🆕 BMS slashes Sotyktu price with DTC sales expansion

Bristol Myers Squibb will offer oral psoriasis drug Sotyktu at an 86% discount via direct-to-consumer (DTC) sales, bypassing insurers and PBMs.

Why It Matters To Oncology

▪ DTC models could disrupt specialty drug access, including future oncology therapies.

▪ Bypassing payers may accelerate patient access and influence formulary positioning for novel agents.

The Financials

▪ Sotyktu will cost $950/month (down from $6,828) starting January 2026 for eligible US patients.

▪ Eliquis DTC program already offers >40% discount; Eliquis 2023 global revenue: $13.3B, Sotyktu: $246M.

What They're Saying

▪ CEO Christopher Boerner: BMS is "removing barriers" and "lowering out-of-pocket costs" for patients nationwide.

▪ White House pressures pharma to lower prices through alternative distribution; other drugmakers (Novo Nordisk, Eli Lilly) have adopted similar DTC strategies.

What's Next

▪ BMS's DTC expansion could prompt wider adoption for specialty and oncology drugs, with Roche exploring DTC for cancer therapies.

▪ Ongoing policy shifts and industry moves may reshape drug distribution and pricing models.