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January Co-op Feature
100% Claims Auditing
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Aggressive contract negotiation is critically important, but it's only half the battle. Plans also need to be certain their contract terms are met. Did you know National CooperativeRx audits one hundred percent of claims for financial accuracy? Find out more about how we protect our plans and why it is so critical to their bottom line. |
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Upcoming Events featuring
National CooperativeRx |
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Health Benefits Conference and Expo
January 31 to February 1, 2011
Sheraton Sand Key Resort, Clearwater Beach, FL
NAHU Capitol Conference
February 14 to 16, 2011
Hyatt Regency
Washington, D.C.
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| National CooperativeRx is a not-for-profit coalition founded and owned by plan sponsors to achieve higher value prescription benefits through volume purchasing, clinical solutions, actionable data and unparalleled customer service. For your sales and marketing needs, please contact us at info@wisrx.com or by phone at 866-679-9479, ext. 223. |
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National CooperativeRx 2011: What's in Store
The Year Ahead for the Pharmaceutical Industry
We've spent the first few weeks of 2011 explaining what you can expect from us this year. This week, we'll take a look at the industry we manage on behalf of your plan.
Not surprisingly, big PhRMA companies are not projecting big profits in 2011 for several reasons. First, there's the much talked about "patent cliff" that reaches a crescendo this year and next, when several blockbuster drug patents expire. Lipitor, Zyprexa, Levaquin, Advair Diskus, Seroquel and Plavix will all go off patent over the next two years.
Usually, drugmakers offset losses from patent losses by a) increasing prices before a drug goes off patent and b) introducing new drugs into the market. However, the pipeline for big PhRMA is relatively sparse, so companies are looking to purchase or partner with smaller drugmakers developing promising specialty drugs or operating in emerging markets. Looking ahead, the most robust pipeline drugs are actually generics in development.
Unfortunately, patent expirations will not take effect early enough to have a downward impact on the 2011 trend, currently forecast by Drug Channels to be five to eight percent for traditional drugs. Trend for specialty drugs will remain higher, projected in the range of 14 to 24 percent.
PhRMA will also fight battles on capitol hill. One provision of the federal health reform law (PPACA) grants drugmakers 12 years of exclusivity on expensive biologic medications. Now, a battle has developed over whether the new law means that biogeneric drugmakers can get a head start on seeking regulatory approval for their versions of biologic medications, or whether they must wait the full 12 years before beginning to seek approval.
PPACA will have other implications for PhRMA. While it is expected to increase the number of people with prescription drug coverage by 2014, the law will impose steep taxes on drug and device makers in the meantime. AstraZeneca, Bristol Myers Squibb and Eli Lily each project losses of $400-$700 million in 2011 due to health care reform. |
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National CooperativeRx reminds plans that PPACA-related changes to Flexible Spending Accounts (FSAs) become effective in 2011. As a result, enrollees can no longer use their accounts for over-the-counter medicines unless they obtain a prescription. Insulin is the exception. See the IRS notice and a Q and A.
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Medpage Today. A study finds that hospital-acquired rotavirus dropped more than 60% after implementation of routine rotavirus vaccination. (Phend, 1/24) Full story
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CVS Caremark. When consumers are offered a cost-neutral choice to fill their 90-day prescription medications in a retail store or through a mail-order pharmacy, they split their preferences largely depending on their past experiences. (1/19) Full story
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Pharmalot. Concerned about the slow pace at which new treatments are being developed by big pharma, the National Institutes of Health is planning to open a new drug development center by October. (Silverman, 1/24) Blog post AP story
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Pharma Times. The prescribing of off-label and unauthorized medicines to children is still widespread in Europe, accounting for 45%-60% of total prescriptions in both inpatient and outpatient care. (Taylor, 1/27) Full Story
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LA Times. A tiny pharmacy in Florida has built a lucrative niche market: filing lawsuits against drug makers that overcharge Medicare and Medicaid. (Zajac, 1/24) Full story
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U.S. Senators Kohl and Grassley. Calling it essential to lowering drug costs, a Republican and Democrat work together on legislation that would ban the practice of "pay for delay," drug companies paying generic drug manufacturers to keep generics off the market. Press release
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Wisconsin State Journal. Gov. Scott Walker on Monday signed his first bill into law - a state tax break for people with health savings accounts. (1/25) Full story
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