Lawyers, drugs and money

Heading into 2017, investor consensus held that positive CV outcomes data for Amgen Inc.’s Repatha evolocumab could provide a commercial boost to PCSK9 inhibitors. But with top-line results now in hand, payers, PBMs and reimbursement consultants say it ain’t so.

Even without any competitor to pit against the big biotech, payers and PBMs are prepared to limit access unless the detailed data show at least a 20% reduction in risk - and even then they say Amgen will not only need to reduce the drug’s net price, but also agree to risk sharing based on CV outcomes to get access to a bigger population...