As many companies fall into the public spotlight for raising drug prices, two companies have dramatically decreased the cost of a cholesterol medication.
Sanofi and Regeneron said they would decrease the list price for Praluent by 60 percent with the hopes of boosting patient access to the medication. Praluent was originally approved in 2015 for patients with high cholesterol. Instead of the statins that are frequently prescribed to lower cholesterol, PCSK9 inhibitors like Praluent are designed to block a protein thought to contribute to high cholesterol. The drug was pegged to potentially become a blockbuster, but its high price tag — about $14,000 a year — has been inhibited widespread sales.
Following Amgen’s decision to lower the price of Praluent’s rival, Repatha, Sanofi and Regeneron have decreased Praluent’s list price to about $5,850 a year.
The companies said that the price change will lower the out-of-pocket costs for Medicare patients to about $25 to $150 a month. The price change will go into effect in March.
Read the full Reuters report.