- Eli Lilly launches website to help patients get weight loss drugs (nbcnews.com)
...Eli Lilly announced...a new website that will allow patients to get a weight loss drug prescription through a telehealth provider — a move, the company says, that will improve access to the extremely popular and effective drugs, including its recently approved drug, Zepbound...The new website, called LillyDirect, joins a growing list of platforms like WeightWatchers and Ro offering weight loss drugs through telehealth, but is the first of its kind from a pharmaceutical company...“We’re used to buying consumer goods directly from manufacturers all the time on online websites,” said Lilly CEO David Ricks. “It really hasn’t been an option that’s been provided before” for prescription drugs...Ricks said the new platform will make it easier for patients to access the drugs, cutting out the need to go to the doctor to get a prescription and then to a pharmacy to fill it. Patients who are prescribed Zepbound will be eligible for Lilly’s at-home prescription delivery service...READ MORE
- New frontiers in pharmacy education: Preparing students for their role in an evolving pharmacy practice (drugstorenews.com)
...the new crop of pharmacy students nationwide will need much more than an introduction to rudimentary science courses, thanks to the notable progress that the pharmacy industry has made in advancing the clinical role of pharmacists. The pandemic also has elevated pharmacists’ roles and allowed them to assume expanded responsibilities...Many pharmacy schools are stepping up to the plate with new courses and electives, as well as honing some of their existing courses, to ensure that their students are well prepared to meet the myriad challenges that they will face as newly minted pharmacists...READ MORE
- Study: More than 8 in 10 adults prefer their local pharmacist over mail order (chaindrugreview.com)
A large majority of American adults prefer to get their prescription drugs from a local pharmacist instead of a mail order service, mainly because of the personal relationship, according to a new national survey released today by the National Community Pharmacists Association...“Most Americans clearly are not willing to substitute personal care for the perception of convenience,”...When asked why, 36 percent say their pharmacist knows them better than a mail order company. Thirty-two percent say their pharmacist answers questions and provides counsel on how to use the drugs. Another 15 percent worry their drugs will get lost in the mail, exposed to the elements, or stolen...READ MORE
- Amazon opens online pharmacy, shaking up another industry (apnews.com)
The online colossus opened an online pharmacy Tuesday that allows customers to order medication or prescription refills, and have them delivered to their front door in a couple of days...The potential impact of Amazon’s arrival in the pharmaceutical space rippled through that sector immediately. Before the opening bell, shares of CVS Health Corp. fell almost 9%. Walgreens and Rite Aid both tumbled more than 10%...Amazon will begin offering commonly prescribed medications Tuesday in the U.S., including creams, pills, as well as medications that need to stay refrigerated, like insulin. Shoppers have to set up a profile on Amazon’s website and have their doctors send prescriptions there. The company said it won’t ship medications that can be abused, including many opioids...READ MORE
- Amazon’s latest push into digital health: a virtual clinic for common conditions like allergies and hair loss (fiercehealthcare.com)
Amazon has rolled out a new virtual medical clinic that aims to treat common conditions like allergies, hair loss and skin conditions...The message-based virtual health service connects consumers with licensed clinicians who can diagnose, treat and prescribe medication for a range of common health and lifestyle conditions...Amazon Clinic partners with third-party telehealth providers including SteadyMD and HealthTap, powered by Wheel, to provide virtual consultation services. Consumers will see upfront pricing for care and an estimated response time. The service creates synergies with Amazon Pharmacy to fill and deliver any medications Amazon Clinic users are prescribed...Amazon Clinic will be cash pay and does not yet accept insurance...READ MORE
- NowRx turns to equity crowdfunding to raise $73M for expansion, tech investment (fiercehealthcare.com)
...Silicon Valley startup NowRx decided to avoid venture capital dollars...The online pharmacy aims to raise $73 million series C funding through SeedInvest, an equity crowdfunding platform...Once completed, the series C round will bring the company’s total funding to more than $100 million...The startup, which provides same-day and same-hour prescription medication delivery and telehealth services, aims to use the funds to expand into additional territories, and accelerate the technology roadmap for its proprietary pharmacy management software and logistics technology...The raise comes on the heels of strong growth as the company charted $13.4 million in revenue in 2020...READ MORE
- The Online Pharmacy Marketplace Will Look Different in 2021 – Here’s How (nabp.pharmacy)
Within the past two months, the online pharmacy marketplace has experienced some market-shifting dynamics that could alter the scope and direction of the industry. Within the span of approximately two weeks, e-commerce behemoth Amazon announced the launch of its NABP-accredited pharmacy website against the backdrop of Food and Drug Administration’s Importation of Prescription Drugs final rule becoming effective...The two updates highlight the growing chasm in the online pharmacy environment and continued threat to public health and patient safety by those who solely seek profit. With the entrance of Amazon Pharmacy comes a safe and legitimate source of prescription drugs via the internet, and an opportunity to raise the visibility of accredited pharmacies operating legitimately and within the confines of the law...READ MORE
- CVS Pharmacy Downsizes: 10 Industry Trends Driving the Retail Shakeout (drugchannels.net)
...CVS Health recently announced that it will close about 900 of its retail pharmacies. This downsizing complements the company’s shift toward its healthcare delivery future...This long-overdue move highlights the retail industry’s fundamental economic headwinds. The pharmacy shakeout is accelerating, as smaller competitors exit and larger companies reduce store count...Retail pharmacies are experiencing a period of intense competition that continues to pressure prescription profits. After years of stability, the number of U.S. pharmacy locations across all formats is trending downward...READ MORE
Here are 10 key forces behind deteriorating retail pharmacy industry margins:
1) Slow retail prescription growth and intense competition for consumers.
2) Low generic drug prices.
3) Slower growth in brand-name drug list prices.
4) Limited exposure to the dispensing of specialty drugs.
5) Reduced margins from participating in payers’ narrow retail pharmacy networks.
6) Lower reimbursement and store traffic from 90-day maintenance prescriptions.
7) Rapid growth in direct and indirect (DIR) remuneration rebates.
8) Retail pharmacy’s cost structure.
9) Growing competition from technology-enabled online pharmacies.
10) Potential Policy Changes.
- Lawmakers aim to move ‘very quickly’ to pass bill mandating electronic prior authorization for MA plans (fiercehealthcare.com)
Lawmakers behind the Improving Seniors’ Timely Access to Care Act...not only requires electronic prior authorization for MA plans, but also requires the Department of Health and Human Services to create a process for faster decisions on items and services that commonly get approved...While the bill only applies to MA plans, lawmakers hope to eventually tackle more types of insurance such as commercial plans...READ MORE
- Disruption Delayed: Making Sense of Amazon’s Latest Pharmacy Moves (drugchannels.net)
Amazon is getting more serious about pharmacy...This announcement is much less disruptive than it appears to be. Amazon is copying the GoodRx discount card model—including GoodRx’s partnership with Express Scripts. At the same time, Amazon is launching a mail pharmacy that will accept insurance and be in PBM pharmacy networks...Amazon’s actions are another negative headwind for retail pharmacies, but not a fatal blow to the system. Perhaps Amazon will one day become a true disrupter...Amazon Pharmacy operates as a home delivery pharmacy. It is built on the backbone of PillPack, which Amazon acquired for $700 million in 2018...Just like any other pharmacy, Amazon relies on your pharmacy benefit plan to determine your out-of-pocket expenses. Nothing magical here...READ MORE