THOUSAND OAKS, October 6, 2025 – Amgen (AMGN.O) launched a direct-to-patient program offering its cholesterol drug Repatha at a 60% discount to 239 monthly, bypassing traditional insurance channels.
The move could significantly impact Amgen’s revenue structure while potentially expanding patient access to the costly medication that typically lists for over 600 per month 1.
- Repatha now available for 239 monthly via AmgenNow program
- 60% discount from current U.S. list price
- Direct-pay model bypasses insurance and pharmacy benefit managers
Market Reaction & Context
Amgen shares declined following the announcement, reflecting investor concerns about potential revenue compression from the significant price reduction 3. The pharmaceutical giant joins a growing trend of drugmakers offering direct-to-consumer programs to circumvent complex insurance reimbursement systems.
Repatha, a PCSK9 inhibitor used to lower cholesterol in high-risk patients, generated substantial revenue for Amgen but faced access challenges due to its high cost and insurance coverage restrictions.
Program Details
The AmgenNow program provides eligible patients access to Repatha for 239 per month, representing nearly 60% savings from the current list price 2. The medication will be available through both the company’s direct program and via GoodRx at more than 70,000 pharmacies nationwide 8.
Amgen has positioned this initiative as part of its commitment to improving patient access to essential medications, particularly following industry pressure to reduce prescription drug costs.
Industry Context
The launch follows broader pharmaceutical industry moves toward direct-pay models that eliminate middlemen including pharmacy benefit managers and insurance companies 6. This strategy allows drugmakers to capture more value while potentially reducing costs for patients who pay cash.
The timing coincides with ongoing political pressure on drug pricing, including calls from various political figures for pharmaceutical companies to reduce medication costs 9.
Financial Implications
While the discount may reduce per-unit revenue, analysts suggest the program could expand Repatha’s patient base by reaching individuals previously priced out of treatment. The direct-pay model also eliminates rebates typically paid to pharmacy benefit managers and insurers.
Amgen’s stock performance will likely depend on whether increased volume can offset the significant price reduction and whether the strategy proves sustainable long-term.
Not investment advice. For informational purposes only.
References
1“Amgen to sell cholesterol drug at 60% discount to cash-paying US patients”. Reuters. Retrieved October 6, 2025.
2“Amgen launches direct-to-patient program to sell cholesterol drug at 60% discount”. Becker’s Hospital Review. Retrieved October 6, 2025.
3“Amgen Stock (AMGN) Falls as It Cuts 60% Off Cholesterol Drug Price”. TipRanks. Retrieved October 6, 2025.
4“AMGEN MAKES REPATHA AVAILABLE THROUGH AMGENNOW”. Amgen Press Release. Retrieved October 6, 2025.
5“Amgen to offer Repatha at 60% discount to U.S. consumers”. Seeking Alpha. Retrieved October 6, 2025.
6“Amgen’s Repatha discounted 60% via direct line to patients”. FirstWord Pharma. Retrieved October 6, 2025.
7“Amgen to offer Repatha at 60% discount to U.S. consumers”. MSN. Retrieved October 6, 2025.
8“GoodRx Expands Affordable Access to Repatha with Nearly 60% Savings”. GoodRx Investor Relations. Retrieved October 6, 2025.
9“Amgen Lowers Cholesterol-Medication Price After Trump Call for Price Cuts”. Wall Street Journal. Retrieved October 6, 2025.