New cholesterol-fighting drug slashes heart attack risk, but at a steep price; Amgen shares drop
BYMack Hogan
Friday, 17 Mar 2017 | 4:07 PM ET
Ricardo Dearatanha | Los Angeles Times | Getty Images

Amgen shares fell Friday after the company said its cholesterol-lowering drug failed to significantly lower mortality and costs more than many insurers want to pay.

Called Repatha, the drug reduced the risk of heart attack, stroke or cardiovascular death by 20 percent, Amgen said in a report about a 27,564-patient trial.

However, the results don't justify the price tag, many analysts said.