Regeneron, Sanofi To Offer New Praluent Cholesterol Drug Options At 60% Discount

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Regeneron Pharmaceuticals Inc. REGN, +0.10% and Sanofi SNY, +0.31% said Monday that Praluent, used to treat high cholesterol, will be available at about 60% less than original prices. The new reduced U.S. list price of $5,850 a year will be for both 75 milligram and 150 milligram doses, starting in early March. The companies said out-of-pocket costs for Medicare Part D patients could be lowered to $25 to $150 a month, which depending on insurance plans could save as much as $345. "Offering a lower-priced Praluent will help lower seniors' out-of-pocket costs and thereby remove another barrier to receiving this important medicine," said Regeneron Chief Executive Leonard Schleifer. Shares of Regeneron, which were still inactive in premarket trade, have rallied 14% over the past three months and Sanofi's U.S.-listed stock has declined 6.5%, while the S&P 500 SPX, +0.07% has lost 2.6%.

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