Amgen has cut the U.S. list price of potent cholesterol drug Repatha by 60 percent to $5,850.
Repatha was launched in 2015 at a list price of more than $14,000 a year, but sales have been constrained by roadblocks to patient access by insurers looking to limit spending on expensive drugs.
"We've heard from too many patients, particularly Medicare beneficiaries, that they can't afford their out-of-pocket copays, so we're lowering the list price of Repatha today," said Amgen CEO Bob Bradway in a telephone interview with CNBC.
In May, Regeneron and Sanofi agreed with pharmacy benefit manager Express Scripts to lower the price of their rival drug, Praluent, to between $4,500 and $8,000 in exchange for easier access for patients covered by the PBM’s largest plan.
Read the press release