FDA approves first new medication to treat schizophrenia in more than 30 years

The U.S. Food and Drug Administration approved a new schizophrenia treatment on Thursday for the first time in decades, offering an alternative to the antipsychotic medications those with the mental illness have typically been prescribed.

Though Cobenfy is still an antipsychotic drug, it's the first to target cholinergic receptors instead of the typical method of blocking dopamine receptors, which would reduce symptoms like hallucinations and delusions. But those medications typically had serious side effects that can leave patients opting to forgo treatment instead of dealing with things like weight gain, fatigue, tremors and involuntary movements.

But Bristol Myers Squibb's new drug will indirectly target the dopamine receptors by targeting the neurochemical acetylcholine to inhibit the activity of cholinergic receptors, which play an important role in memory, cognition and autonomic functions. And studies showed the twice-daily Cobenfy pill's ingredients — xanomeline and trospium chloride — won't likely cause the same side effects as other antipsychotic medications while still helping manage the same schizophrenia symptoms.

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"For people living with schizophrenia, it's often difficult to find a treatment that works for them. Having a variety of treatment options gives patients and healthcare providers the tools to help manage this serious condition," said Gordon Lavigne, chief executive officer of the Schizophrenia & Psychosis Action Alliance. "People living with schizophrenia want and deserve more. Today's approval provides a new option as people with schizophrenia move forward with proper support to rebuild their lives."

Schizophrenia is a chronic mental health disorder that affects 1 in 300 people worldwide, with onset typically happening later in adolescence or the twenties, according to the World Health Organization . When it's active, people often perceive reality in a significantly impaired way due to persistent paranoia, disorganized thinking, extreme agitation and other behavioral symptoms. These symptoms often lead to a highly stressful or disordered personal, social and occupational life, the WHO says.

The majority of those with schizophrenia do not receive treatment, with only some 31% receiving specialized care that they need. And life expectancy with severe mental illnesses like it are linked to 10 to 20 years shorter life expectancy compared to the general population, studies show.

Cobenfy is expected to be made available in late October, according to CNBC. It'll cost $1,850 for a month supply or $22,500 annually before insurance and other rebates, with the company saying that's in-line with many other current treatment prices.

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