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Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) will cut the price of their Praluent cholesterol drug by 60 percent to $5,850 a year, matching an unprecedented move that Amgen (AMGN) made last year with its own Repatha treatment, STAT writes. The companies, whose injectable drugs both had a list price of $14,000 per patient per year and were once expected to generate more than $1 billion in annual sales, have struggled as insurers and pharmacy benefit managers have made it difficult for patients to get the medications.

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