Repatha US price slashed by 60%

US biotech major Amgen (Nasdaq: AMGN) said yesterday that it is making its PCSK-9 inhibitor Repatha (evolocumab), an innovative biologic medicine for people with high cholesterol who are at risk for heart attacks and strokes, available at a reduced list price of $5,850 per year, down from $14,000.

This 60% reduction from the medicine's original list price will improve affordability by lowering patient co-pays, especially for Medicare patients, said Amgen, whose share were down 4.94% at $187.88 by close of trading Wednesday, when the wider market was also in sharp decline.

The new pricing will increase affordability and access to this drug, which is especially important since cardiovascular disease is one of the country’s most significant health challenges and every 40 seconds someone in America has a heart attack or stroke, Amgen noted.