Amgen Reduces Price of Repatha Devices by 60%
On the first day of the J.P. Morgan Healthcare Conference, Amgen announced they would lower the list price of monthly doses for their cholesterol lowering medicine Repatha by 60%.
In October, Amgen lowered the price for the biweekly dose of Repatha by 60% as well.
As of today, 80 percent of current Repatha Medicare patients have access to Repatha at the new lower list price through their plans. Additionally, more patients can now fill a Repatha prescription at a retail pharmacy because a number of large payers are reclassifying Repatha as a non-specialty therapy.
"Every 40 seconds someone in America has a heart attack or stroke making cardiovascular disease one of the country's most significant health challenges," said Murdo Gordon, executive vice president of Global Commercial Operations at Amgen. "Repatha can help to address this significant public health issue, which is why we are working hard to improve patient affordability by lowering Repatha's list price to improve patient co-pays, especially for Medicare patients."
"The lower list price announced in October has been received very positively by patients, physicians and payers, and we are already seeing a noticable impact for patients," said Gordon. "However, more must be done to help more patients get to a low fixed co-pay. We need continued engagement from all stakeholders – from healthcare professionals to payers to plans and to government agencies – to help ensure patients benefit from the lower list price to reduce their out-of-pocket costs."
Amgen CEO, Bob Bradway, sat down with CNBC's Jim Cramer to discuss the company's decision to further lower Repatha's price.
"We found too many patients were prescribed this therapy, but were struggling to pay for it at the pharmacy counter," Bradway told CNBC in an interview with Jim Cramer. "The reaction so far from physicians and from patients has been very, very encouraging."
"What we're finding is that patients that were walking away from the prescription — so, patients whose doctors had already identified them as being at high risk for heart attack and stroke — are now being able to get access to the medicine," Bradway said on "Mad Money."
You can see the interview in its entirety below:
Amgen 2019 J.P. Morgan Presentation
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