Amgen Unveils New DTC Program, Cuts Cholesterol Drug Price by 60%

Core Insights - Amgen has launched a direct-to-consumer program called AmgenNow, offering significant discounts on its drugs, starting with Repatha, which is priced at $239 per month, representing a nearly 60% discount from its U.S. list price [1][8] - The direct-to-patient price for Repatha is the lowest among G-7 advanced economies, targeting uninsured patients and those on high-deductible health plans [2] - Amgen has partnered with GoodRx to provide Repatha at the same price across 70,000 pharmacies nationwide [3] Financial Performance - Repatha has shown strong sales growth since its launch in 2015, with $696 million in sales during Q2 2025, a 31% increase year over year [4] - The company anticipates that Repatha will evolve into a multi-billion-dollar franchise by 2030 [4] Strategic Initiatives - The launch of AmgenNow aligns with political pressures for pharmaceutical companies to reduce drug prices and improve domestic operations [3][9] - Amgen has made significant investments in U.S. manufacturing, including a $650 million investment to expand its network, a $600 million science and innovation center in California, a $900 million manufacturing expansion in Ohio, and a $1 billion facility in North Carolina [10] Industry Context - Amgen's actions may reflect a broader industry trend, following Pfizer's recent agreement with the Trump administration to align drug prices with those in other developed nations [11][12] - The developments from both Amgen and Pfizer could signal a turning point in easing regulatory and pricing pressures in the pharmaceutical industry [12] Stock Performance - Year-to-date, Amgen's shares have increased by 13%, outperforming the industry average growth of 8% [6]