Posted by Michael Wonder on 20 Mar 2017
There's a middle ground in Amgen's drug price battle
20 March 2017 - The February news that Amgen's cholesterol-lowering drug Repatha helped prevent heart attacks was one of the most exciting biotech events of the year, renewing faith in the drug's blockbuster potential.
But the full trial results behind that headline, which Amgen released on Friday, disappointed investors, sinking the company's shares more than 6%. Repatha's sales have been stymied by pharmacy benefit managers (PBMs), middlemen who negotiate drug prices on behalf of insurers and employers. Stronger trial data might have helped Amgen force PBMs to accept the reality of Repatha's high price.
Now, the company will have to be more flexible. If it does, then PBMs might do well to meet it halfway.
