PBM giants Express Scripts and CVS Health have so far found formulary exclusions an effective way to manage drug costs. And unfortunately for pharma companies, that tactic is catching on.
Amgen's PCSK9 med Repatha and Sanofi and Regeneron's competitor Praluent may have both nabbed coverage from top PBM Express Scripts. But now, Amgen has inked an exclusive pact with the giant's archrival, CVS.
In the jockeying for share in the brand-new market for the specialized PCSK9 cholesterol-lowering meds, Amgen has picked up an edge over Sanofi by nailing a formulary exclusive with CVS. To get that preferred spot, Amgen has again agreed to tie the price of the drug to its effectiveness.
CVS Health has no intention of shelling out more than it has to on the new PCSK9 drugs. It's been saying so for more than a year--and now, it has taken a double-barreled shot at the next-gen cholesterol fighters.
Express Scripts wasn't alone in kicking more drugs off its preferred formulary. CVS Health did the same--and though a couple of the changes echoed those of its chief PBM rival's, others showed how the payers are pitting drugmakers against one another for coverage.
Pharmacy giant CVS has found itself in the crosshairs of another lawsuit accusing it of inflating the prices of generic drugs. The suit, filed in federal court in San Francisco, says the company pulled off a "massive fraud" through a discount program for patients paying cash for prescriptions, Bloomberg reports.
CVS Health may be staring down pricey hep C drugs and forthcoming PCSK9 meds, but capsules of powdered resveratrol? Not so much.
Get ready for more of a squeeze on drugs used by seniors. CVS Health agreed to pay $12.7 billion for the pharmacy services company Omnicare, which specializes in assisted living and long-term care facilities.
CVS Health is raising eyebrows with a new estimate: A coming class of pricey cholesterol meds could cost the U.S. as much as $150 billion per year.
Gilead's got a message for you, AbbVie: It's on. Just a couple of weeks after the Illinois drugmaker struck an exclusive hep C pact with PBM Express Scripts, Gilead has come back with a deal of its own.