Sanofi and Regeneron Pharmaceuticals said on Monday that they will slash the U.S. list price of their potent but expensive cholesterol fighter Praluent by 60 percent, as the drugmakers follow a similar move by rival Amgen in hopes of increasing use of the drug.
The new list price for Praluent will be $5,850 a year, matching the price Amgen set when it lowered the list of its competing drug, Repatha, in October.
Sanofi and Regeneron said they expect the lower-priced Praluent to be available for pharmacies to order in early March. They said the new price should improve patient access and result in lower out-of-pocket costs for U.S. consumers.
Praluent and Repatha belong a class of injectable biotech drugs called PCSK9 inhibitors that dramatically lower bad LDL cholesterol and reduce the risk of heart attacks and death.