Developed by Bristol-Myers Squibb, Cobenfy will launch in October with a 30-day supply costing $1,850 before insurance|A 4|CC BY-SA 2.0

The Food and Drug Administration (FDA) has approved Cobenfy, the first new treatment for schizophrenia in decades.

The agency’s greenlight also marks the first significant innovation in the treatment of schizophrenia in 70 years.

Developed by Bristol Myers Squibb, Cobenfy targets different brain areas than traditional antipsychotics, helping alleviate symptoms without common side effects like weight gain or excessive drowsiness.

While some clinical trial participants reported nausea and constipation, Cobenfy represents a new approach to managing the complex disorder.

Set to launch in October with a 30-day supply costing $1,850 before insurance, the drug could impact the lives of the 2.8 million Americans affected by schizophrenia.

Additionally, analysts predict Cobenfy could bring Bristol peak annual sales of over $6 billion.