Amgen To Slash Cholesterol Drug Price By 60 Percent After Years Of Struggling To Gain Foothold In Market
The new $5,850 a year price tag is still higher than cost-effectiveness watchdogs recommend, but it's a big drop from the original $14,000 a year. Sales never took off for the drug, in part because patients balked at the cost. Meanwhile, FDA Commissioner Scott Gottlieb sounds an alarm over pricey new cancer treatments.
The Associated Press:
Amgen Slashes Price Of $14,000-A-Year Cholesterol Drug
The maker of an expensive cholesterol drug is slashing the list price, which should make it more affordable for patients. Amgen Inc. said Wednesday it is immediately cutting the price of Repatha by 60 percent, from about $14,000 to $5,850 per year. The move could help boost Amgen's 60 percent share in the U.S. market. The reduction comes after rivals Sanofi and Regeneron in May slashed what they charge prescription plans — though not the list price — for their similar cholesterol medication, Praluent. (Johnson, 10/24)
Stat:
Amgen Lowers Wholesale Price For Its Cholesterol Drug In Bid To Compete
The decision also follows three years of frustration for Amgen, as well as Sanofi (SNY) and Regeneron Pharmaceuticals (REGN), which together sell Praluent. Both drugs are PCSK9 inhibitors, a new type of cholesterol medicine for treating patients who struggle to control cholesterol using statins, particularly those with an inherited disorder known as familial hypercholesterolemia. (Silverman, 10/24)
Bloomberg:
Amgen Cuts Cholesterol Drug’s Price 60% After Weak Sales
Repatha is part of a class of injectable medications intended to reduce complications of high cholesterol including heart attack and stroke. The drugs, called PCSK-9 inhibitors, are meant to be taken indefinitely. The steep price has resulted in far slower adoption than expected for what once thought to be a sure-fire blockbuster. (Brown, 10/24)
Stat:
FDA's Gottlieb 'Extremely Worried' About How To Pay For CAR-T Therapies
The commissioner of the Food and Drug Administration sounded a note of alarm Wednesday over how hospitals are being paid for custom-built cancer treatments, suggesting that if a solution is not found soon, drug development could suffer. “I’m extremely worried that if we don’t adapt the approach to reimbursement soon, we may foreclose the therapeutic opportunities,” Gottlieb said. (Swetlitz, 10/24)
