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Amgen Stock Declines After Slashing Cholesterol Drug Price by 60%
Amgen Stock Declines After Slashing Cholesterol Drug Price by 60%
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BTCCSquare news:
Amgen (AMGN) shares dipped following the launch of its direct-to-consumer platform, AmgenNow, which introduced a 60% price cut on its cholesterol drug Repatha. The new monthly price of $239 marks the lowest offered across G7 nations. Despite the aggressive pricing strategy, investor sentiment remained lukewarm, with AMGN stock trending downward.
The platform bypasses traditional insurance hurdles, offering Repatha directly to patients—including Medicare and Medicaid recipients—without prior authorization requirements. This MOVE aligns with broader industry pressures to reduce drug costs, echoing recent actions by Pfizer to lower medication prices.
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