REGN - No Need To Panic On Praluent Price Cut
In a move that drew headlines galore last week, Regeneron (REGN) and Sanofi (SNY) decided to lower the cost of Praluent by a whopping 60%. This raised eyebrows because this drug was just recently approved by the FDA in September of 2018 and the companies spent hundreds of millions in research and development to get it through. Is this a blow to both companies or a strategic and bullish move?
Looking at the competitive landscape of cholesterol drugs like Praluent, the new medicine was definitely priced on the higher side before