Pioneering cancer drug, just approved, to cost $475,000 — and analysts say it’s a bargain

The Food and Drug Administration on Wednesday approved a futuristic new approach to treating cancer, clearing a Novartis therapy that has produced unprecedented results in patients with a rare and deadly cancer. The price tag: $475,000 for a course of treatment.

That sounds staggering to many patients — but it’s far less than analysts expected.