Amgen and Harvard Pilgrim executed a “first-of-its-kind” contract under which the health plan can receive a full rebate for the cost of Repatha (evolocumab) if an eligible patient experiences a myocardial infarction or stroke while on the drug—essentially a money-back guarantee.

Repatha, a PCSK9 inhibitor, is indicated as an adjunct to diet and optimal statin therapy in certain adults who require additional lowering of LDL cholesterol. It has a list price of $14,000 per year.

The agreement builds on a pay-for-performance contract Harvard Pilgrim and Amgen signed in 2015 for Repatha, and follows the release of clinical study data earlier this year showing that Repatha reduced the risk of myocardial infarction by 27 percent and stroke by 21 percent over a period of two years.

“We look forward to partnering with other payers to create similar outcomes-based contracts for Repatha,” said Dr. Joshua Ofman, Amgen’s senior vice president of global value, access and policy.

In February, Amgen and Harvard Pilgrim signed an outcomes contract for rheumatoid arthritis drug Enbrel (etanercept) that provides discounts based on an effectiveness algorithm.

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