Novartis's $475,000 cancer breakthrough heralds new era of cures

The approval of Novartis's breakthrough therapy for a deadly form of leukemia opened the door to a new class of treatments even as its $475,000 price tag reignited the debate on how to value potentially life-saving drugs.

Demonstrating its willingness to clear medicines faster, the Food and Drug Administration on Wednesday approved a radical new one-time…