Valeant-Style Price Hikes Targeted for Fast Review by Drug Plan - (Bloomberg via NewsPoints Desk)

  • Express Scripts is implementing a new programme to rapidly respond to large price increases for off-patent products, Bloomberg reported Thursday.
  • The move comes after decisions by companies such as Valeant Pharmaceuticals and Turing Pharmaceuticals to enact large price hikes for generic drugs.
  • "We are going to be able to act within weeks, instead of months or longer" to price hikes or other acts to steer patients to more expensive drugs, remarked Express Scripts chief medical officer Steve Miller, adding this "sends a message to the marketplace that we are prepared to respond very quickly to these things."
  • Earlier this year, Express Scripts halted reimbursement for Valeant's diabetes drug Glumetza after a generic alternative was introduced, while in November 2015. the company removed mail-order pharmacy Linden Care from its network after determining that it dispensed a substantial portion of its medications from Horizon Pharma.
  • Miller said that Express Scripts will also expand its "indication-specific pricing" programme that reimburses drugs at different levels depending on their uses.
  • Miller explained that the company will broaden the indication-specific program to include anti-inflammatory drugs, which include AbbVie's Humira and Amgen's Enbrel.

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