Amgen announced this week that it has slashed the price of its cholesterol med, Repatha, by 60 percent.
The company committed to the price cut in 2018 but said it wanted to give pharmacy benefit managers to adjust contracts for the new list price of $5,850 per year.
Repatha, a monoclonal antibody targeting PCSK9, was first approved in 2015 to treat high cholesterol and has since had its indications expanded to include the prevention of heart attacks and strokes.
Amgen said that the cost cut was made specifically so that the drug would be more accessible to Medicare patients. The new price will go into effect Dec. 31.
Read the press release.
