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Amgen slashes price tag on cholesterol medicine Repatha by 60% for 2020

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Oct 24 (Reuters) - Drugmaker Amgen Inc said on Thursday starting next year it would sell its cholesterol drug Repatha exclusively at a 60% discount to its current list price.

The new price of $5,850 per year will go into effect after Dec. 31 and will make the drug more accessible to patients on Medicare, the federal health insurance program for people aged 65 and older, the company said.

The list price is not necessarily what patients actually pay as "out-of-pocket" costs vary based on the duration of the treatment and individual healthcare plans.

(Reporting by Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)