The latest announced mega-merger, between Cigna and Express Scripts, should put Congress on alert, the top Democrat on the House Energy and Commerce Committee said. Rep. Frank Pallone is calling for an oversight hearing.
The $67 billion merger would allow Cigna to lower its costs by insourcing PBM services, and absorb the profits of the biggest stand-alone PBM at a time when its competitors are also pairing up with providers of pharmacy services.
Supply chain experts are skeptical the $67 billion Cigna Corp.-Express Scripts deal will do much to transform the healthcare industry, let alone deliver any significant savings to customers.
The nation's largest pharmacy benefit manager Express Scripts said its CFO Eric Slusser is leaving the company. James Havel, an executive vice president, is taking his place.
Pharmacy benefit manger Express Scripts will acquire medical benefits management company EviCore Healthcare for $3.6 billion, a move that will allow the company to access that growing market, the company said Tuesday.
The American Medical Association says doctors and their patients, not pharmacy benefit managers, should determine opioid treatment plans, criticizing Express Scripts' plan to limit the number and strength of opioid drugs prescribed to first-time users.
In a rational political environment, there's a strong argument for tax reform—the next item on President Donald Trump's agenda. But we don't live in such an environment. Cutting taxes when the economy is near full employment will do nothing more than blow a massive hole in the federal budget.
The largest pharmacy benefit manager in the country will lose Anthem's business in 2019, which is a sizable chunk of its business. For now, it's riding increasing specialty drug claims and home delivery revenue to an 11% second-quarter profit increase.
Blink Health and Express Scripts partnered with Eli Lilly to provide up to a 40% discount on the drugmaker's insulin. An Express Scripts spokesman said Blink ended the contract because it did not want an exclusive relationship with the PBM, a violation of their agreement.
Anthem's decision last week to cut ties with its long-time pharmacy benefit manager, Express Scripts, is being called a game changer for a segment of the industry that's increasingly under fire for pricing and transparency.
Politics, like nature, abhors a vacuum. Witness how the pharmaceutical industry has succeeded in taking advantage of President Donald Trump's failure to do something—anything—about high drug prices.
Express Scripts' shares plummeted more than 10% in the wake of the news that it lost its largest client. Anthem accounts for about 18% of the pharmacy benefit manager's revenue.