New face behind those Foster Grants: Raquel Welch
SMITHFIELD, R.I. Eyewear designer Foster Grant is revitalizing its tagline, “Who’s that behind those Foster Grants?”, with a classic spokeswoman.
Hollywood icon Raquel Welch, who served as spokeswoman for the brand in the 1960s in a national advertising campaignn, is back in FGXI’s television campaign that kicks off April 12.
“Signing Raquel Welch for Foster Grant proved to be very successful for the Foster Grant brand,” said Richard Kornhauser, FGXI EVP and chief marketing officer. “It was an obvious choice to work with her again in 2010. Raquel continues to combine her tremendous star power and natural beauty to appeal to all age ranges, gender and demographics, making her a perfect fit for Foster Grant.”
SXC Health Solutions signs PBM contract with HealthSpring
LISLE, Ill. A leading provider of pharmacy benefit management products and services announced that its informedRx PBM unit has been awarded a contract with HealthSpring.
The initial term of the contract is three years with provisions for two additional one-year extensions. HealthSpring, based in Nashville, Tenn., offers Medicare Advantage plans across seven states to over 193,000 members and a national stand-alone Medicare prescription drug plan to 387,000 members. SXC will provide HealthSpring with its full suite of PBM services which include:
- Mail order pharmacy
- Specialty pharmacy
- Retail network management
- Medicare compliance services
- Patient care clinical services
HealthSpring will deploy mail and specialty pharmacy services beginning in 2010, with implementation of the full PBM services on Jan. 1, 2011.
“The flexibility of SXC’s full service PBM offering, combined with its expertise in Medicare Part D, aligns perfectly with our commitment to design competitive products and provide high quality healthcare benefits to Medicare members,” said Michael Mirt, HealthSpring president and COO. “We manage our Medicare Advantage plans locally and require customized benefits programs throughout our network, which made SXC, with its flexible PBM service model, an ideal partner to help us achieve our service and cost containment objectives.”
Biosimilars could bring down specialty drug spending
WHAT IT MEANS AND WHY IT’S IMPORTANT If Medicare Part D is to remain solvent in the future, then lawmakers may want to take a closer look at the more than 10% of spending on drugs under the program that has gone toward specialty drugs — some of the most expensive drugs on the market — and find ways to come up with cheaper alternatives.
(THE NEWS: GAO: Specialty drugs accounted for 10% of Medicare Part D spending in 2007. For the full story, click here)
The Government Accountability Office reported that of the $54.4 billion spent on prescription drugs under Medicare Part D in 2007, $5.6 billion went toward specialty drugs. Many specialty drugs — particularly those for cancer and autoimmune disorders, are biologics — which can cost thousands of dollars for a month’s supply and for which no generic alternatives are available. In addition, while Alzheimer’s disease often falls outside the traditional “specialty” realm, many treatments for it in the pipeline are biologics as well.
One way to save money to patients and the Centers for Medicaid and Medicare Services alike would be to create an abbreviated regulatory approval pathway for follow-on biologics, also known as biosimilars and biogenerics, similar to the one that has existed for generic pharmaceutical drugs since 1984.
As long as it gave innovator companies ample opportunity to recoup their investments and didn’t leave patients and payers waiting too long before biosimilars became available, such a pathway could go a long way toward bringing down the costs associated with cutting-edge treatments.