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THOUSAND OAKS, Calif. - Amgen (NASDAQ:AMGN), a prominent biotechnology company with a market capitalization of $160 billion and strong financial health according to InvestingPro analysis, launched AmgenNow on Monday, a direct-to-patient program that will offer its cholesterol medication Repatha (evolocumab) at $239 monthly, representing a nearly 60% reduction from the current U.S. list price.
The program is available to all patients, including those who are uninsured, covered by high-deductible health plans, or prefer to pay out-of-pocket. Participants in government programs such as Medicare and Medicaid are also eligible.
According to Amgen, the discounted price is the lowest among G-7 nations and is being offered exclusively to U.S. patients. The company stated that patients using the program will not be subject to insurer requirements for step therapy or prior authorization.
"Amgen is committed to finding new ways to help patients benefit from our medicines," said Murdo Gordon, executive vice president of Global Commercial Operations at Amgen, in a press release statement.
The launch follows recent Phase 3 trial results showing Repatha reduced the risk of major adverse cardiovascular events in individuals without prior history of heart attack or stroke.
Repatha is a human monoclonal antibody that inhibits PCSK9, a protein that regulates LDL cholesterol levels in the bloodstream. The medication is approved in more than 74 countries for reducing cardiovascular risks and as an adjunct to diet and exercise for lowering LDL cholesterol in adults with hypercholesterolemia and in patients with familial hypercholesterolemia.
The company also plans to make AmgenNow accessible via the TrumpRx website, in support of the Trump Administration’s efforts to lower drug prices for Americans.
In other recent news, Amgen announced that its Phase 3 VESALIUS-CV clinical trial for the cholesterol drug Repatha met its dual primary endpoints. The trial involved over 12,000 high-risk patients and demonstrated a significant reduction in cardiovascular events for individuals without a prior history of heart attack or stroke. This positive outcome led Bernstein and Oppenheimer to reiterate their Outperform ratings for Amgen, with price targets set at $335.00 and $380.00, respectively. Additionally, Amgen has committed to a $650 million expansion of its manufacturing facility in Juncos, Puerto Rico, which is expected to create approximately 750 new jobs. This investment aims to boost drug production capabilities and integrate advanced technologies into the operations process. In collaboration with Kyowa Kirin, Amgen also reported positive preliminary results from the ASCEND study on rocatinlimab for treating atopic dermatitis. The study evaluated the long-term safety and efficacy of the drug in approximately 2,600 patients. These developments highlight Amgen’s ongoing efforts to enhance its pharmaceutical offerings and operational capacity.
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