PHARMACY

CVS Health debuts new specialty pharmacy facility

BY Michael Johnsen

ORLANDO, Fla. – CVS Health this week was joined by Florida Gov. Rick Scott, the Orlando Economic Development Commission VP Business Development Casey Barnes, Orange County Mayor Teresa Jacobs and Florida State Reps. Mike Miller and Mike La Rosa to officially open a new specialty pharmacy facility here.

The new 112,000 square foot facility will hire pharmacists, pharmacy technicians and administrative staff to expand CVS Health's work to help customers with disease education, provide pharmacy and medication counseling, verify benefits and coordinate care with multiple health care providers.

At the event, Alan Lotvin, EVP specialty pharmacy at CVS Health, spoke about the company's purpose of helping people on their path to better health. "As our company grows we are excited to add new resources and new colleagues to support that purpose – like those here in this building.”

The project was made possible through partnerships between Enterprise Florida, the Florida Department of Economic Opportunity, The Orlando Economic Development Commission and the Orange County.
 

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Dr. Reddy’s looks to branded generics to drive growth

BY David Salazar
HYDERABAD, India — In his message to shareholders in the company’s 2015-2016 annual report, Dr. Reddy’s Laboratories chairman K Satish Reddy mentioned a new effort the company would be undertaking in North America — a branded generics platform. In addition to leveraging a pipeline of complex generics across its markets while focusing on OTC, Reddy said the branded generics would be one of the ways the company drives growth in the coming years. 
 
“We are creating a branded generics platform in North America and expanding our biologics play in Russia, CIS and other emerging markets,” he wrote. 
 
The report lists the branded generics under its outlook for FY2017. 
 
“In the absence of unforeseen and adverse events, we expect Dr. Reddy’s to perform marginally better in FY2017 vis-à-vis the current year,” the report said. 
 

 

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2016 national health spend to surpass $10K per person, total $2.7 trillion by 2025

BY David Salazar
WASHINGTON — Between 2015 and 2025, according a new article in Health Affairs, growth in U.S. health spending is projected to increase about 5.8% on average — a number that surpasses growth in the gross domestic product (GDP) by 1.3 percentage points. And in 2016, the article projects that national health spending per capita will surpass $10,000 for the first time. 
 
Despite the cost per capita, aggregate national spending growth, Medicaid spending growth is expected to slow this year, to 5.3% from an average of 10.8% in 2014-2015, with an expected from in prescription spending growth to 4.9% from the 17.7% growth seen in 2015. Private payers will also see steady low spending growth of 4.9%, down from 5.1% in 2015. Medicare, on the other hand, is expected to see its spending growth rise this year to 5.2%, an increase from the 4.6% growth it saw last year.
 
Moving into the period from 2017 to 2019, the Health Affairs report projects a rise in spending growth across sectors and payers, with national health spending expected to average 5.8% during that time, an increase over the 4.8% growth seen in 2016. Private payers will see their spending grow an average of 5.6%, Medicare will see average spending growth of 6.7% and Medicaid will see 5.6% growth on average. Medicare expenditures per beneficiary are also expected to rise from 1.8% in 3016 to an average of 3.7% from 2017-2019. 
 
In the five years between 2020 and 2025, the report projects a 7.6% spending growth average for Medicare, 5.2% for Medicaid and about 5% for private payers. As spending growth increases, so too will the amount of costs that governments absorb. Governments are expected to sponsor about 47% of health costs by 2025, or nearly $2.7 trillion by 2025, with households and business expected to cover 53% of costs. 
 
The report expects prescription drugs to have a smaller impact on health spending in the next 10 years than they did in 2014 and 2015, which it attributes to an expected drop in the number of approved new drugs, and the anticipated increase in availability of biosimilars. 
 
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