Regeneron in Express Scripts’ Sights for Price War
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After igniting a price war over hepatitis C medicine that has roiled the pharmaceutical industry, Express Scripts Holding Co. is looking to reap savings from expensive new treatments for cancer and high cholesterol.
A highly anticipated set of medications that aggressively reduce cholesterol, known as PCSK9 inhibitors, will be the next big opportunity to pit drugmakers against each other to reduce costs, Chief Executive Officer George Paz told investors today. That represents a threat to the revenue of companies like Amgen Inc. and Regeneron Pharmaceuticals Inc. that are developing the drugs. Drugmaker stocks sank lower today on Paz’s comments.