ZURICH (Reuters) – Novartis will price its new Mayzent multiple sclerosis drug at $88,000 dollars per year, the Swiss company’s head of pharmaceuticals, Paul Hudson, said.

Novartis said on Tuesday it had won U.S. Food and Drug Administration approval for Mayzent, as the company seeks to tap a new group of patients in whom the neurological disease has shifted from intermittent attacks to a gradually worsening progression.

(Reporting by John Revill, editing by Louise Heavens)