Mergers and acquisitions are reshaping the pharmacy and pharmacy benefit manager industries, and the big players are gaining even more market share.
Pharmacy
Bayer AG, which previously announced its intent to cut 12,000 positions worldwide, will eliminate about 4,500 of those positions in its home market of Germany, according to Bloomberg.
Pharmacy benefit managers stepped in to help manage prescription claims for insurers when coverage expanded under the ACA and with the creation of the Medicare Part D program.
Hours before one of its top executives was set to testify at a House hearing on insulin prices, Sanofi introduced a program that will lower the drug's cost for some patients.
Cost containment, collaboration and inventory visibility are top of mind for many pharmacy and supply chain management leaders.
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Walgreens is partnering with VillageMD to open several primary care clinics in Houston.
Five executives from top pharmacy benefit managers in the U.S. testified before the Senate Finance Committee April 9.
Troubled Illinois-based pharmaceutical company Akorn steeply raised prices of at least a dozen drugs last month to try to offset several financial setbacks, according to STAT.
Hospital and health system pharmacy leaders are tasked with overcoming complex challenges in today's increasingly dynamic reimbursement environment, including managing the skyrocketing costs of medications and mitigating the effects of drug shortages.
Effective Jan. 1, 2020, CVS Caremark will no longer serve as the pharmacy benefit manager of Ohio's largest Medicaid managed care provider, according to The Columbus Dispatch.