- $3K for folic acid? CVS Caremark takes aim at ‘hyperinflated’ drug prices (fiercehealthcare.com)
CVS Caremark is saving money on drug costs by kicking specific products with high inflation off their formularies...The pharmacy benefit manager launched its program for “hyperinflation” drug removals in 2017 in which it will take drugs off its template formulary if they have far cheaper equivalents and their high prices aren’t backed by quality metrics...So far, they've identified five drugs to remove as the default option for docs...Through these efforts, Caremark has saved its PBM clients an average of $15 per 30-day supply on drugs—clients on this formulary model paid on average $88.30 for a 30-day drug supply, compared to $102.58 for other formulary designs...As the program is focused on products like that with high costs compared to alternatives, just five have been pulled from formularies so far—leading to a 99% drop in member use...READ MORE
- FDA says widening probe on generic drug impurities (reuters.com)
The U.S. Food and Drugs Administration said...it was expanding its investigation into impurities in U.S. generic drugs beyond a class of medicines for high blood pressure known as angiotensin II receptor blockers...The agency did not specify which types of additional drugs it was looking at, but said it was testing samples of other medicines with similar manufacturing processes to those in which concerning impurities have been discovered...READ MORE
- Lawmakers up pressure on Novartis in wake of data manipulation (biopharmadive.com)
Sen. Chuck Grassley...is demanding a full accounting from Novartis of its investigation into faulty data it submitted to the Food and Drug Administration in seeking approval for the gene therapy Zolgensma...Grassley seeks records from Novartis related to its internal inquiry into the data manipulation, as well as any tied to its decision to delay informing the FDA until after the agency had approved Zolgensma..."Such conduct is reprehensible and could have an adverse effect on patients,"...READ MORE
- August 23 Pharmacy Week in Review: National Association of Chain Drug Store Total Store Expo; Vaccine for Honeybee Stings (pharmacytimes.com)
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.
- This Week in Managed Care: August 30, 2019 (ajmc.com)
Laura Joszt, Managing Editor at The American Journal of Managed Care. Welcome to This Week in Managed Care from the Managed Markets News Network
- DEA to expand marijuana research after years of delay (reuters.com)
The U.S. Drug Enforcement Administration said...that it will move ahead with a long-delayed expansion of its marijuana research program, in a sign that the Trump administration’s hostility to the drug may be waning as a growing number of states have legalized its use...The DEA said it would roll out new guidelines that would allow more growers to produce marijuana for scientific and medical research…READ MORE
- Here’s How PBMs and Specialty Pharmacies Snag Super-Size Profits from the 340B Program (drugchannels.net)
...let’s follow the prescription dollar to expose how specialty pharmacies and covered entities profit from 340B prescriptions...You’ll see the indisputable prescription math that permits large specialty pharmacies to share in the 340B discounts that covered entities earn. These pharmacies’ profits can be $1,000 per prescription—far exceeding their typical profits from dispensing a third-party-paid prescription...No wonder PBMs and specialty pharmacies are racing to become 340B contract pharmacies!...READ MORE
- August 30 Pharmacy Week in Review: Family History of Diabetes Linked to Increased Bone Mineral Density; Moderate Exercise May Benefit Patients with Metastatic Colon Cancer (pharmacytimes.com)
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.
- China loosens curbs on small, unapproved drug imports (reuters.com)
China said...it was relaxing drug laws to give greater leniency to people who import small amounts of medicines unapproved in China but sold legally overseas...Under the previous law, such drugs were classified as “fake drugs”. Those caught importing unapproved medicines were considered drug smugglers and faced heavy penalties...The change is part of wider revisions to drugs laws and authorities said it recognized how some Chinese, unable to afford expensive foreign-made, brand-name drugs, were turning to the grey market to buy cheaper generic versions that had not been approved by local regulators...READ MORE
- This Week in Managed Care: August 23, 2019 (ajmc.com)This Week in Managed Care: August 16, 2019 (ajmc.com)
Laura Joszt, Managing Editor at The American Journal of Managed Care. Welcome to This Week in Managed Care from the Managed Markets News Network