Regeneron Pharmaceuticals (REGN -1.2%) slips on light volume in early trade in reaction to competitor Amgen’s (AMGN -0.3%) announcement that
it has terminated its original list price for high cholesterol med
Repatha (evolocumab) and will exclusively distribute the PCSK9 inhibitor
at the 60% lower list price of $5,850 per year.
The company introduced the lower price a year ago
but continued certain contracts with payers and PBMs based on the
original list price in order to minimize potential supply chain
disruptions, adding that all PBMs and health plans enjoy equivalent or
better net pricing on the lower list price option on Repatha.
Regeneron’s PCSK9 inhibitor is Praluent (alirocumab), being co-commercialized with partner Sanofi (SNY +0.9%).
The companies have been locked in a battle for market share since the
FDA approved the products at nearly the same time in 2015.
https://seekingalpha.com/news/3509130-regeneron-1-percent-amgens-discounted-repatha
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