Drug Companies Cut Cholesterol Drug Prices
Sanofi and Regeneron Pharmaceuticals have announced a 60 percent reduction in the U.S. prices of their cholesterol-lowering medication, Praluent (alirocumab), mirroring a move by competing drug company Amgen in October 2018. The Praluent price cut will match the cost of Amgen’s Repatha (evolocumab).
When Praluent and Repatha were approved in 2015, the list price of the medications was $14,000 per year. Sales of both drugs have been constrained by health insurance company limits on high-priced medications. A deal with Express Scrips, part of Cigna Corp., will make Praluent available for $4,500 to $6,600 per year.
The lower-priced medication is expected to be available for order by pharmacies in early March 2019. Praluent and Repatha are injectable medications called PCSK9 inhibitors that significantly lower LDL (“bad”) cholesterol and reduce heart attack and stroke risk. The price reduction will give consumers better access to the potentially life-saving drugs and cut their out-of-pocket costs.
Sourced from: Reuters