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Amgen’s Just-Approved Migraine Drug Will Cost $6,900 a Year | Bloomberg

Renewed political pressure over drug costs has added to the challenge of finding the right price for innovative medications. While drugmakers want to maximize returns on the substantial investment required to develop new therapies, some payers have begun to push back.

A pricing misstep helped slow sales of Amgen’s cholesterol fighter Repatha, which failed to live up to commercial expectations after insurers and pharmacy-benefit managers balked at its $14,000-a-year cost. Though sales of the drug have picked up, topping expectations in the company’s most recent quarter after receiving an updated label from regulators showing it reduced heart risks, competitors have taken steps to lower prices for similar drugs.

“The payers recognize that there is a clear and longstanding unmet need in migraine,” said Tony Hooper, executive vice president of global commercial operations at Amgen, on a call with analysts Friday. Hooper said the company is in talks with pharmacy-benefit managers and insurers and “by and large, they are supportive of our price.”

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Amgen’s Just-Approved Migraine Drug Will Cost $6,900 a Year – Bloomberg.

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