Delcath (DCTH) Pops Higher on New CHEMOSAT Reimbursement Plan in Germany

February 4, 2013 10:08 AM EST
Delcath Systems, Inc. (DCTH) is moving higher early on volume Monday following an announcement that a new reimbursement program was established in Europe. The stock is up 6.4 percent with volume of 2.2 million shares already double the daily average.

According to the release, "Delcath Systems announced that the Institut für das Entgeltsystem im Krankenhaus (InEk), the German federal reimbursement agency, has established a reimbursement pathway for the treatment of patients with liver metastases with the Delcath Hepatic CHEMOSAT® Delivery System for melphalan hydrochloride. The decision by the InEK followed an endorsement by the German Radiology Association, which prompted 47 cancer centers throughout Germany to submit applications under the Neue Untersuchungs- und Behandlungsmethoden (NUB) scheme for new technology reimbursement at specific hospitals. The Value 4 status given to the CHEMOSAT procedure, while not mandating reimbursement, allows participating cancer centers to negotiate reimbursement coverage for the CHEMOSAT procedure with all insurers serving their region. Under the NUB scheme, reimbursement pathways will potentially be available for treatment with CHEMOSAT regardless of primary cancer origin."

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