Amgen Inc.’s cholesterol-lowering drug Repatha is cost-effective for high-risk patients at a yearly net price of $9,669 or below, according to a new study published in the medical journal JAMA Cardiology. The analysis used data from a trial enrolling patients with established atherosclerotic cardiovascular disease, which can cause a heart attack or stroke, and used rates of those events in a typical population. Repatha’s list price is more than $14,500 a year; that price does not reflect often-substantial discounts. Repatha and other cholesterol-controlling PCSK9 drugs — intended for patients whose cholesterol levels haven’t been reduced sufficiently by lifestyle changes or statins — haven’t sold as well as expected, due to, in part, their high price tags. The new JAMA Cardiology study will likely play a role in price negotiations between health insurers, which have been extremely reluctant to cover drugs like Repatha, pharmacy-benefit managers and Amgen. Amgen shares weren’t active in postmarket trade. Shares have surged 9.7% over the last three months, compared with a 1.9% rise in the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News