Regeneron CEO puts conditions on lowering his $14,000 cholesterol drug

Regeneron Pharmaceuticals CEO Leonard Schleifer said Monday the biotech firm will be willing to lower the cost of its more than $14,000-per-year cholesterol drug for patients.

“although we’ve done in which using a challenge,” Schleifer told CNBC’s “Squawk on the Street.” “The challenge will be, we’re going to force the payers as best we can in addition to also also hopefully get the doctors in addition to also also the patients on our side … to make access straightforward for the patients who need the idea.”

fresh results via a highly anticipated long-term clinical trial found in which the cholesterol drug Praluent significantly reduced major adverse heart events by 24 percent in addition to also also led to fewer deaths among high-risk patients.

The study included nearly 19,000 patients who were injected with the drug or a placebo every two weeks. Some patients switched to a higher dose if LDL cholesterol levels remained at certain levels.

The Institute for Clinical in addition to also also Economic Review, which conducted an independent review of Praluent’s value based on the fresh risk-reduction data via the study, recommended a cost range of $4,500 to $8,000 for high-risk patients likely to gain the most benefit via the drug therapy. in which’s a significantly less than the $14,0-a-year list cost for the drug, which will be sold by Regeneron in addition to also also Sanofi.

Regeneron in addition to also also Sanofi announced they might be willing to charge less for their drug. Schleifer reiterated to CNBC in which Regeneron “can live in” ICER’s cost range in addition to also also give patients value “so long as the access will be there.”

Some insurers, which Schleifer said have frequently rejected prescriptions, have been unwilling to pay due to the drug’s cost.

“Doctors are furious” with insurers, Schleifer said. The doctors “write a prescription in addition to also also most of them are getting rejected. Patients should be able to get the drugs in which they want.”

Schleifer also said companies such as his should be rewarded for their innovations.

“If you had data like This specific, Wall Street in addition to also also patients in addition to also also doctor communities might be having a parade for you,” Schleifer told CNBC. “although currently, you have to stare down right from the face of the people who are paying the bills in addition to also also the idea’s the globe we live in.”

Shares of Regeneron in addition to also also Sanofi were up fractionally Monday. Amgen, which sells a rival drug, saw its stock cost decline slightly.

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