>> A life-saving drug shown to reduce the risk of heart attacks and strokes by more than 20%, and people with severe heart disease getting rave reviews from doctors and patients. The one group not so impressed, investors. Amgen's, Repatha, scoring high marks and results from a large scale clinical trial released Friday, a study that cost the company a billion dollars to produce.
But that's not the only massive price tag. The drug costs $14,000 for an annual prescription. Insurance companies are currently rejecting doctor prescription requests at a rate of 75%, instead willing to pay just $100 a year for current cholesterol fighting drugs like Lipitor. Those drugs, known as statins, however, are less effective in the more serious cases of heart disease.
Heart disease is the leading cause of death among both men and women in the United States. Despite the positive results of that Repatha test, shares of Amgen fell. The stock the worst performer in the S&P 500 Friday, along with Regeneron Pharmaceuticals, the maker of a competing drug. Biotech and drug companies, alike, have come under intense scrutiny for exorbitant prices on medicines, with President Trump adding his voice in an attempt to further pressure the industry to cut prices.