Express Scripts Holding Co, the largest manager of prescription drug plans for U.S. employers and health plans, said it has reached deals to cover two costly new cholesterol drugs and expects to spend no more than $750 million on them next year.
The injected drugs – Repatha from Amgen Inc and Praluent from partners Regeneron Pharmaceuticals Inc and Sanofi – each have list prices of more than $14,000 a year.
They were approved by U.S. regulators during the summer and belong to a new class of medicines called PCSK9 inhibitors that can slash “bad” LDL cholesterol by more than 60 percent.
Express Scripts, which has been a vocal critic of rising U.S. drug prices, would not comment on how much of a discount it had negotiated. It says total U.S. spending on the new drugs could reach $10 billion next year, far beyond Wall Street forecasts.Read More