Amgen Inc.'s cholesterol-lowering medicine Repatha could be cost-effective at a roughly 33% discount, researchers said in a study funded by the drugmaker.

The economic analysis, published in JAMA Cardiology, contrasts significantly with another JAMA study, published a day earlier, which recommended a 71% discount to the product and its class of newer PCSK9-inhibiting cholesterol drugs. While Repatha and Praluent, the other PCSK9 therapy on the market from Sanofi and Regeneron Pharmaceuticals Inc., can be effective, their more than $14,000 annual cost has kept payers hesitant about extending coverage beyond the most severe cases of high cholesterol.

The Amgen-funded study, led by cardiologists at the University of California, Los Angeles, concluded that while paying Repatha's $14,523 list price would not be cost-effective for typical patients with atherosclerotic cardiovascular disease, a price of $9,669 or less would fall into range.

This estimate is in line with the typical discount range for biologic medicines in the U.S. market, Amgen said in a statement on the findings.

For patients with more severe cholesterol levels that have already tried older drugs called statins, the price tag could be $13,225, researchers said. Yet if the data was restricted to the patients and cardiovascular events in the FOURIER study, $6,780 would be cost-effective.

While discounts and rebates are generally negotiated behind closed doors, the study assumed an average rebate rate of 29% for branded pharmaceuticals, making Repatha's estimated actual cost to payers about $10,311 a year.

Data from the FOURIER trial earlier this year showed that while the medicine did reduce the risk of major adverse cardiovascular events such as heart attack or stroke, it did not reduce risk of cardiovascular death significantly compared to other therapies.

Repatha sales were $83 million in the second quarter of 2017, with $60 million coming from the U.S. During Amgen's earnings call, Anthony Hooper, executive vice president of global commercial operations, said the drug's price was aligned with the market's rebate system.

The company is releasing more data on Repatha at the European Society of Cardiology conference in the coming week, including an analysis of its effectiveness for treating cholesterol in stroke patients.