The pharmacy benefit management industry has been quietly changing amid healthcare payment reforms and an increasingly fierce debate over drug prices. Now a leadership shuffle at Express Scripts has experts speculating that the days of PBMs as stand-alone companies may be numbered.
Health insurers and pharmacy benefit managers (PBMs) are hoping recent mergers and their growing market clout will help them win steeper drug discounts in their ongoing war with the pharmaceutical industry over specialty drug pricing.
Gilead Sciences on Tuesday reported second-quarter earnings of $4.49 billion. On a per-share basis, the Foster City, California-based company said it had profit of $2.92. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, came to $3.15 per share.
Sovaldi, the $1,000 pill for hepatitis C, is no longer the favorite of patients and doctors. The new leading pill is more expensive, and the number of patients seeking a cure has surged.
The Food and Drug Administration may issue approval decisions this month and next for two cholesterol-lowering drugs that could drive the nation's drug costs even higher.
FDA advisory panels this week recommended approval of two drugs that may significantly lower cholesterol. But experts warn the potential high cost for these blockbuster drugs could limit their access and once again raise concerns about skyrocketing prescription costs.
Physicians face tough predicaments in attempting to prescribe highly effective new hepatitis C drugs for their patients while health plans strive to curb the high costs of those medications.
A strong sales year for its prescription products and participation in emerging markets enabled Novartis Corp. to maintain its position as the largest pharmaceutical company in 2014. Meanwhile, Actavis saw a 50.5% revenue increase, and Biogen's revenue grew by 40%.
Sales of Viekira Pak, the hepatitis C treatment manufactured by pharmaceutical giant AbbVie, totaled $231 million in the first quarter of this year—instantly making it the company's third best-selling drug.
Pharmaceutical company AbbVie will unveil its first-quarter earnings Thursday, giving investors and industry observers their first glimpse of what a full quarter of sales looks like for its new hepatitis C treatment.
Spending in the U.S. on prescription drugs rose by 13% in 2014, driven largely by increased spending on new breakthrough medications, according to a new report. And Medicaid patients' spending on drugs rose much faster in states that expanded Medicaid under the ACA compared with those that did not.
New cost-effectiveness analyses of Sovaldi and other treatments to treat chronic hepatitis C infection suggest U.S. firms initially set prices near the ceiling that the United Kingdom's National Health Service will pay for drugs.