Medicare Cutting Pay for Amgen’s Aranesp
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Amgen Inc. will get a “significantly” smaller reimbursement next year for its Aranesp anemia drug for some patients on Medicare under new rules announced by the U.S. health insurance program.
The Centers for Medicare & Medicaid Services now will pay hospitals less for Medicare patients receiving Aranesp in outpatient settings.
About 10% of Aranesp’s revenue comes from U.S. hospital outpatient reimbursements, the company said.
The reduced rates represent about $63 million to $76 million of estimated 2003 Aranesp sales, said Jennifer Chao, an analyst with RBC Capital Markets.
Shares of Thousand Oaks-based Amgen fell $1.48, or 3.1%, to $46.56 on Nasdaq.
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