Nonprofit Finds New Cholesterol Drugs Far Too Costly

Nonprofit Finds New Cholesterol Drugs Far Too Costly

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(Fox News) – An independent nonprofit organization that evaluates clinical and cost effectiveness of new medicines said announced prices for a just-approved class of potent cholesterol lowering drugs were far too high, according to a draft report released on Tuesday.

The Boston-based Institute for Clinical and Economic Review (ICER) said its analyses indicated “that the price that best represents the overall benefits” the drugs may provide patients would be between $3,615 and $4,811 a year, a 67 percent discount off the list prices.

“Even if these drugs were used in just over 25 percent of eligible patients, then employers, insurers, and patients would need to spend on average more than $20 billion a year for these drugs,” ICER president Steven Pearson said in a statement.

It would take a further price reduction to an annual cost of $2,177 in order to not have to try to limit patient use to keep overall health care cost growth within bounds, ICER concluded.

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