Bristol Myers Squibb and Pfizer announced on Thursday that they will start selling their blockbuster blood thinner, Eliquis, directly to certain patients at a discount exceeding 40%, aiming to make the drug more affordable amid rising pressure on pharmaceutical pricing.
This new initiative is designed to bypass traditional middlemen, including pharmacy benefit managers and insurers, cutting the drug’s monthly cost from a list price of around $606 to $346. Beginning September 8, uninsured, underinsured, and self-pay patients will be able to purchase Eliquis through the Eliquis 360 Support program, which will ship prescriptions directly to patients’ homes, providing a more streamlined and transparent purchasing experience.
Despite the sizable discount, the new price remains more than nine times higher than the average monthly out-of-pocket cost of $38 for commercially insured patients. It also stands significantly above the $231 monthly price Medicare negotiated under the Inflation Reduction Act, which is set to take effect next year. However, Bristol Myers Squibb and Pfizer emphasized that the Medicare negotiated price reflects what Medicare pays for the drug, not what patients will necessarily pay now or in the future.
In a joint statement, the companies said the negotiated price does not fully capture “the substantial clinical and economic value of this essential medicine.”
Currently, over 90% of Eliquis prescriptions in the U.S. are covered by insurance. Bristol Myers Squibb and Pfizer said the direct-to-patient effort aims to broaden access to Eliquis, lower out-of-pocket costs for a different segment of patients, and provide clearer, more transparent pricing options.
“This program passes more savings directly to patients and demonstrates our continued focus on identifying innovative solutions that foster the best outcomes for each individual while prioritizing access to care,” said Bristol Myers Squibb CEO Chris Boerner.
Leerink Partners analyst David Risinger commented that the move likely responds to President Trump’s plan to reduce U.S. drug costs by aligning prices with those paid in other developed countries, following an executive order signed in May.
Risinger added that since the drugmakers already offer substantial rebates on Eliquis to pharmacy benefit managers, the new program is not expected to create a “net pricing headwind” for Bristol Myers Squibb and Pfizer, allowing the companies to maintain profitability while addressing affordability concerns.
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