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Pharmacists remain at the top of the Gallup’s annual survey of professionals that rank the highest in “honesty and ethics”...For the 18th year in a row, nurses ranked as the most trusted professionals, as 85% of Americans say their honesty and ethical standards are "very high" or “high”. Engineers placed second at 66%, followed by medical doctors (65%), and pharmacists (64%)...“Medical professions in general rate highly in Americans' assessments of honesty and ethics, with at least 6 in 10 US adults saying medical doctors, pharmacists, and dentists have high levels of these virtues,”...READ MORE

The Food and Drug Administration...outlined its efforts to track potential supply chain disruptions emanating from the spread of the new coronavirus from China, noting increased ordering of surgical masks, gowns and other personal protective equipment through distributors...Agency chief Stephen Hahn said in a statement that shifting ordering patterns has yet to result in shortages but warned the situation is "evolving and very dynamic."...The agency is holding off on conducting medical product inspections in China, heeding the State Department's warning against traveling to the country where the outbreak began. Still, Hahn noted the FDA is working to use other information "to inform decisions allowing the products to enter the U.S. market."...READ MORE

Two new reports quantify the problem that community pharmacists have experienced firsthand: direct and indirect remuneration fees are skyrocketing, causing some pharmacies to go out of business...DIR fees have skyrocketed by 1600% in the last 5 years, totaling $8.5 billion since 2013, according to a new policy analysis...Pharmacy benefit managers are profiting from DIR fees in excess of 500% per prescription, compared with the average PBM administration fee...A loophole in the program allows health plans and PBMs to pocket an excessive amount of pharmacy DIR fees rather than offset prescription costs for seniors...READ MORE

Ann Lovell...62-year-old teacher is a frequent flier, traveling every few months to Tijuana, Mexico, to buy medication for rheumatoid arthritis — with tickets paid for by the state of Utah’s public insurer.,,Lovell is one of about 10 state workers participating in a year-old program to lower prescription drug costs by having public employees buy their medication in Mexico at a steep discount compared to U.S. prices. The program appears to be the first of its kind, and is a dramatic example of steps states are taking to alleviate the high cost of prescription drugs...READ MORE

The surge in vertical integration in the healthcare industry has created "an oligopoly of integrated healthcare companies controlling nearly all aspects of the healthcare and pharmacy supply chain," said the National Community Pharmacists Association in comments submitted today to the Federal Trade Commission and the US Department of Justice Antitrust Division..."These vertical mergers have allowed a handful of massive companies to exercise enormous power over patients and the marketplace. In many cases, we believe they are creating for themselves unfair advantages that are driving up patient costs and killing local businesses," said B. Douglas Hoey, NCPA CEO...READ MORE

Spread of the novel coronavirus in China and beyond would have mixed effects on U.S. biopharma companies, says Moody's...the impact on their businesses may be mixed...If the virus persists long enough, branded drugmakers may see decreased demand for their innovative drugs in China...the global spread of the virus could lead to government stockpiling of certain drugs such as antivirals...As for generic players, which depend on China for active pharmaceutical ingredients, a continued outbreak may increase the risk of supply disruption...READ MORE

Christina Mattina, welcome to This Week in Managed Care from the Managed Markets News Network

At a time when people expect negative news in the generics industry — whether it is unabating competition, price deflation, product quality and recall issues, or product supply shortages — many generics firms are managing to thrive...Amidst this disruption, many players in the generics sector are counterpunching with innovative strategies, accelerating their efforts to pursue a diversified business model and focusing on significantly increasing their pipeline of products to include new therapeutic areas and new dosage forms. They also are developing and commercializing complex medicines and delivery systems that position their business for continued long-term growth...READ MORE

Twenty one states have rejected an $18 billion settlement proposal from three major U.S. drug distributors to resolve lawsuits over their alleged role in the opioid crisis, but discussion are still active...More than 2,500 lawsuits have been brought nationwide by states, local and tribal governments over the toll the opioid crisis has taken on their communities...the states objected to a settlement offer sent to the companies’ law firms earlier this week, and were pushing for a larger payment...READ MORE

Nicole Grassano, PTNN, Pharmacy Week in Review, this weekly video program provides our readers with an in-depth review of the latest news, product approvals, FDA rulings and more.