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STAT+: Elevance PBM’s president out as customers complain of prescription chaos

STAT

Paul Marchetti, the head of insurer Elevance Health’s pharmacy benefit manager, has left the company amid a wave of consumer complaints about patients receiving incorrect medicines or being unable to get their prescriptions filled.

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Opinion: Shortages of generic drugs can’t be blamed solely on group purchasing organizations

STAT

More than 90% of prescriptions filled that year were for generics or biosimilars, up from just over 18% the year that Hatch-Waxman was passed. The Hatch-Waxman Act of 1984, which gave rise to the modern generic drug market, was one of the most significant cost-reducing policy innovations of the last 40 years.

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FTC report finds PBM power has “dire consequences”

pharmaphorum

The six largest PBMs in the US manage nearly 95% of all prescriptions filled in the US, a “concentrated market structure” that has allowed them to “profit at the expense of patients and independent pharmacists,” according to the financial regulator.

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STAT+: Health care CEOs hauled in $4 billion last year as inflation pinched workers, analysis shows

STAT

But health care stocks fell significantly less than other companies as the amount of care received and prescriptions filled returned closer to pre-pandemic norms. By almost every measure, 2022 was a bad year for the stock market.

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Cap on Out-of-Pocket Insulin Costs in Inflation Reduction Act Increased Prescription Fills

Pharmacy Times

Thousands more people filled their insulin prescriptions following the introduction of the cap in January 2023, especially compared to those who were not enrolled in Medicare, a new study finds.

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Medicare Part D Claims Have Increased, But 340B Prescriptions Increased Faster

Pharmacy Times

The proportion of prescriptions by a 340B-affiliated physician increased from 9.4% in 2020, but the prescriptions filled by 340B pharmacies increased from 18.4% in 2013 to 19.3% to 49.9%.

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Generic and Biosimilar Drugs Save $408B For America’s Patients and Healthcare System in 2022

Big Molecule Watch

According to the findings, more than 90% of all prescriptions filled in 2022 were for generic or biosimilar drugs, despite these medications accounting for less than 18% of the total prescription drug expenditure and a mere 2% of the overall U.S. Notably, the U.S. healthcare spending.