Janssen (J&J) Esketamine recently was approved as an antidepressant by the FDA. Called Spravato, the original cat tranquilizer was used for off-label treatment of severe depression. ICER determined that a fair and rational price for the anti-depression drug is between $`7700 and $25,200 per year. This represents a 25-52% discount on J&J’s annual list price of $32,400.
The ICER analysis would put Spravato in the “low value for money” category as the treatment’s incremental cost-effectiveness ratio exceeds $175,000 per quality-adjusted life year (QALY) gained.