As drug prices fall under increased scrutiny, payers and regulators are targeting some key initiatives that could change the dynamic of pharmacy benefit management over the next 12 months. These emerging trends point to potentially rougher terrain for drugmakers looking to increase market share as payers take a more active role in enforcing formularies.
The National Pharmaceutical Council will host a webinar, “Same Condition, Different Costs: Should Patients Pay Different Amounts?” to discuss the practical realities of different cost-sharing models for prescription drugs.
Market pressures have continued to threaten pharmaceutical brand revenue while increasing costs. The convergence of these two forces has challenged pharmaceutical manufacturers to improve margin with new and ever-evolving strategies. Only a combination of sophisticated managed markets expertise and real-world analysis can empower brands to maximize profitability in today’s challenging climate.
Express Scripts Holding Co. – the largest pharmacy benefit manager in the United States – signaled that scrutiny into drug pricing is not going away.
U.S. pharmacy benefit manager CVS will drop Sanofi’s main insulin drug Lantus from the list of medicines it reimburses on behalf of health insurers.
Lilly received a civil investigative demand from the U.S. attorney’s office for the southern district of New York requesting documents and info relating to PBM contracts.
Even experienced pharma marketers who may have years of developing marketing and communication strategies for hospitals and/or vertically integrated systems might not fully understand and appreciate the critical needs and differentiators of inpatient physicians. With the way this increasingly important channel has quickly evolved, driven by healthcare reform and the value-based reimbursement environment, how can they not only keep up but get out ahead of the needs and solutions this market requires? How will they learn what they need to know to position their products for success? The answer is by listening and partnering.