Adam J. Fein Ph.D.
@drugchannels.bsky.social
President, Drug Channels Institute, an HMP Global company
Please be civil and constructive when commenting. Personal attacks = blocked.
Please be civil and constructive when commenting. Personal attacks = blocked.
I'm pausing BlueSky posting until further notice. Find me on LinkedIn for daily links to neat stuff along with thoughtful and provocative commentary from the DCI community.
drugch.nl/AJF-LinkedIn
drugch.nl/AJF-LinkedIn
March 25, 2025 at 5:31 PM
I'm pausing BlueSky posting until further notice. Find me on LinkedIn for daily links to neat stuff along with thoughtful and provocative commentary from the DCI community.
drugch.nl/AJF-LinkedIn
drugch.nl/AJF-LinkedIn
Good read on the shifting Medicare Part D landscape. That said, the headline might be a little too optimistic. Even with the broader Medicare Advantage slowdown, MA-PD plans are still growing faster than stand-alone PDPs.
drugch.nl/4iHbHra (no paywall)
drugch.nl/4iHbHra (no paywall)
March 23, 2025 at 1:15 PM
Good read on the shifting Medicare Part D landscape. That said, the headline might be a little too optimistic. Even with the broader Medicare Advantage slowdown, MA-PD plans are still growing faster than stand-alone PDPs.
drugch.nl/4iHbHra (no paywall)
drugch.nl/4iHbHra (no paywall)
March 21, 2025 at 4:26 PM
NOW AVAILABLE: The 2025 Economic Report on U.S. Pharmacies and Pharmacy Benefit Managers #PBMs
Full details ==> drugch.nl/pharmacy
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
*** Special discounts thru 3/31/25***
Full details ==> drugch.nl/pharmacy
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
*** Special discounts thru 3/31/25***
March 18, 2025 at 11:00 AM
NOW AVAILABLE: The 2025 Economic Report on U.S. Pharmacies and Pharmacy Benefit Managers #PBMs
Full details ==> drugch.nl/pharmacy
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
*** Special discounts thru 3/31/25***
Full details ==> drugch.nl/pharmacy
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
*** Special discounts thru 3/31/25***
NOW AVAILABLE: 𝐓𝐡𝐞 2025 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐔.𝐒. 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐢𝐞𝐬 𝐚𝐧𝐝 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬 #𝐏𝐁𝐌𝐬
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
==> drugch.nl/pharmacy
** Special discounts thru 3/31/25**
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
==> drugch.nl/pharmacy
** Special discounts thru 3/31/25**
March 18, 2025 at 11:00 AM
NOW AVAILABLE: 𝐓𝐡𝐞 2025 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐔.𝐒. 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐢𝐞𝐬 𝐚𝐧𝐝 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬 #𝐏𝐁𝐌𝐬
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
==> drugch.nl/pharmacy
** Special discounts thru 3/31/25**
12 chapters, 540+ pages, 268 exhibits, ~1,200 endnotes: Nothing else comes close!
==> drugch.nl/pharmacy
** Special discounts thru 3/31/25**
ICYMI: CVS Health $CVS is launching small-format #pharmacies (drugch.nl/3DDd0sa).
Why?
- Prescriptions now dominate retail #pharmacy revenue (GLP-1s=90% via retail)
- Front-End Decline: Walmart, Target, and Amazon have eroded sales. (Locking up products hasn’t helped!)
Chart via drugch.nl/pharmacy
Why?
- Prescriptions now dominate retail #pharmacy revenue (GLP-1s=90% via retail)
- Front-End Decline: Walmart, Target, and Amazon have eroded sales. (Locking up products hasn’t helped!)
Chart via drugch.nl/pharmacy
March 17, 2025 at 12:15 PM
ICYMI: CVS Health $CVS is launching small-format #pharmacies (drugch.nl/3DDd0sa).
Why?
- Prescriptions now dominate retail #pharmacy revenue (GLP-1s=90% via retail)
- Front-End Decline: Walmart, Target, and Amazon have eroded sales. (Locking up products hasn’t helped!)
Chart via drugch.nl/pharmacy
Why?
- Prescriptions now dominate retail #pharmacy revenue (GLP-1s=90% via retail)
- Front-End Decline: Walmart, Target, and Amazon have eroded sales. (Locking up products hasn’t helped!)
Chart via drugch.nl/pharmacy
Competition Wins Again Over Price Controls: #Stelara biosimilars are launching with list prices 80%+ lower than reference product. IRA's "maximum fair price" #MFP only offers a 66% discount off WAC. Biosimilars arrived will save money vs. gov't "negotiated" price.
Source: Bourgoin Insights Group
Source: Bourgoin Insights Group
March 15, 2025 at 1:15 PM
𝐓𝐡𝐞 𝐓𝐨𝐩 15 𝐔.𝐒. 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐢𝐞𝐬 𝐨𝐟 2024: For 2024, DCI estimates that total prescription dispensing revenues at retail, mail, long-term care, and specialty pharmacies reached $683 billion, up 9% from the 2023 figure.
Read more: drugch.nl/3DmHdvI
Read more: drugch.nl/3DmHdvI
March 11, 2025 at 11:11 AM
𝐓𝐡𝐞 𝐓𝐨𝐩 15 𝐔.𝐒. 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐢𝐞𝐬 𝐨𝐟 2024: For 2024, DCI estimates that total prescription dispensing revenues at retail, mail, long-term care, and specialty pharmacies reached $683 billion, up 9% from the 2023 figure.
Read more: drugch.nl/3DmHdvI
Read more: drugch.nl/3DmHdvI
Neat analysis from IQVIA Institute for Human Data Science: More restrictive #pharmacist authority to vaccinate ==> fewer vaccinations
Full report: buff.ly/4bkbpUy
Full report: buff.ly/4bkbpUy
March 10, 2025 at 12:15 PM
Neat analysis from IQVIA Institute for Human Data Science: More restrictive #pharmacist authority to vaccinate ==> fewer vaccinations
Full report: buff.ly/4bkbpUy
Full report: buff.ly/4bkbpUy
Deductible realities: A patient with a deductible funds the entire drug channel, while her "insurance" collects money. No wonder patient-paid prescriptions (cash-pay & disocnt cards) continue to grow.
Source: Follow The Dollar report from PhRMA buff.ly/K78g33M
Source: Follow The Dollar report from PhRMA buff.ly/K78g33M
March 10, 2025 at 1:15 AM
Deductible realities: A patient with a deductible funds the entire drug channel, while her "insurance" collects money. No wonder patient-paid prescriptions (cash-pay & disocnt cards) continue to grow.
Source: Follow The Dollar report from PhRMA buff.ly/K78g33M
Source: Follow The Dollar report from PhRMA buff.ly/K78g33M
Another scoop: @bobjherman.bsky.social confirms UnitedHealth Group's $UNH rumored acquistion of CPS (which helps #340B #hospitals set up specialty #pharmacies). UNH also bought PharmScript, a long-term-care pharmacy.
Bob has become the #1 reporter covering UNH. 👏👏👏
buff.ly/QKF9ITj
Bob has become the #1 reporter covering UNH. 👏👏👏
buff.ly/QKF9ITj
March 8, 2025 at 2:15 PM
Another scoop: @bobjherman.bsky.social confirms UnitedHealth Group's $UNH rumored acquistion of CPS (which helps #340B #hospitals set up specialty #pharmacies). UNH also bought PharmScript, a long-term-care pharmacy.
Bob has become the #1 reporter covering UNH. 👏👏👏
buff.ly/QKF9ITj
Bob has become the #1 reporter covering UNH. 👏👏👏
buff.ly/QKF9ITj
Follow the dollars! #BecauseOf340B, Lantus #340B utilization dropped when Sanofi cut its price by 78%, while demand for high-list Toujeo U-300 grew. "Clearly, 340B profit margins are influencing hospital formularies and prescribing decisions." 🤑
buff.ly/haxKv2d
buff.ly/haxKv2d
March 6, 2025 at 12:45 AM
Follow the dollars! #BecauseOf340B, Lantus #340B utilization dropped when Sanofi cut its price by 78%, while demand for high-list Toujeo U-300 grew. "Clearly, 340B profit margins are influencing hospital formularies and prescribing decisions." 🤑
buff.ly/haxKv2d
buff.ly/haxKv2d
𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐯𝐬. 𝐑𝐞𝐚𝐥𝐢𝐭𝐲: 𝐓𝐫𝐨𝐮𝐛𝐥𝐢𝐧𝐠 𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝐏𝐁𝐌 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐋𝐚𝐰𝐬
drugch.nl/3F5F9bS
Mandated disclosures about #PBM economics have yielded little actionable, reliable data. Should we continue down the path of gov't-mandated reporting, or should plan sponsors be left to negotiate their own deals?
drugch.nl/3F5F9bS
Mandated disclosures about #PBM economics have yielded little actionable, reliable data. Should we continue down the path of gov't-mandated reporting, or should plan sponsors be left to negotiate their own deals?
March 5, 2025 at 12:13 PM
𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐯𝐬. 𝐑𝐞𝐚𝐥𝐢𝐭𝐲: 𝐓𝐫𝐨𝐮𝐛𝐥𝐢𝐧𝐠 𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝐏𝐁𝐌 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐋𝐚𝐰𝐬
drugch.nl/3F5F9bS
Mandated disclosures about #PBM economics have yielded little actionable, reliable data. Should we continue down the path of gov't-mandated reporting, or should plan sponsors be left to negotiate their own deals?
drugch.nl/3F5F9bS
Mandated disclosures about #PBM economics have yielded little actionable, reliable data. Should we continue down the path of gov't-mandated reporting, or should plan sponsors be left to negotiate their own deals?
I'm proud to announce DCI's new live video webinar:
#𝐏𝐁𝐌 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐔𝐩𝐝𝐚𝐭𝐞:
𝐓𝐫𝐞𝐧𝐝𝐬, 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬, 𝐚𝐧𝐝 𝐖𝐡𝐚𝐭'𝐬 𝐀𝐡𝐞𝐚𝐝
Friday, April 4, 2025 | p.m. to p.m. ET
Register: drugch.nl/april2025
#𝐏𝐁𝐌 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐔𝐩𝐝𝐚𝐭𝐞:
𝐓𝐫𝐞𝐧𝐝𝐬, 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬, 𝐚𝐧𝐝 𝐖𝐡𝐚𝐭'𝐬 𝐀𝐡𝐞𝐚𝐝
Friday, April 4, 2025 | p.m. to p.m. ET
Register: drugch.nl/april2025
March 4, 2025 at 1:39 PM
I'm proud to announce DCI's new live video webinar:
#𝐏𝐁𝐌 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐔𝐩𝐝𝐚𝐭𝐞:
𝐓𝐫𝐞𝐧𝐝𝐬, 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬, 𝐚𝐧𝐝 𝐖𝐡𝐚𝐭'𝐬 𝐀𝐡𝐞𝐚𝐝
Friday, April 4, 2025 | p.m. to p.m. ET
Register: drugch.nl/april2025
#𝐏𝐁𝐌 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐔𝐩𝐝𝐚𝐭𝐞:
𝐓𝐫𝐞𝐧𝐝𝐬, 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬, 𝐚𝐧𝐝 𝐖𝐡𝐚𝐭'𝐬 𝐀𝐡𝐞𝐚𝐝
Friday, April 4, 2025 | p.m. to p.m. ET
Register: drugch.nl/april2025
Insightful: Deborah Williams and Anthony DiGiorgio argue that #340B's warped incentives shift oncology practices toward higher-cost hospital settings, crowd out private payer discounts & rebates, & raises #healthcare costs for private payers.
Source: Journal of Clinical Pathways buff.ly/3Xf11ru
Source: Journal of Clinical Pathways buff.ly/3Xf11ru
March 3, 2025 at 1:00 PM
Insightful: Deborah Williams and Anthony DiGiorgio argue that #340B's warped incentives shift oncology practices toward higher-cost hospital settings, crowd out private payer discounts & rebates, & raises #healthcare costs for private payers.
Source: Journal of Clinical Pathways buff.ly/3Xf11ru
Source: Journal of Clinical Pathways buff.ly/3Xf11ru
Good point from Association for Accessible Medicines: #IRA negotiations target brand-name #drugs that have #generic or #biosimilar competitors already approved or seeking approval by FDA. Like it or not, #IRA will alter future investment incentives for such products.
==> buff.ly/4igxHsF
==> buff.ly/4igxHsF
March 3, 2025 at 1:15 AM
Good point from Association for Accessible Medicines: #IRA negotiations target brand-name #drugs that have #generic or #biosimilar competitors already approved or seeking approval by FDA. Like it or not, #IRA will alter future investment incentives for such products.
==> buff.ly/4igxHsF
==> buff.ly/4igxHsF
FYI: #GrossToNetBubble is alive and well. Here are UCB #drug pricing for 2024:
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
March 2, 2025 at 2:15 PM
FYI: #GrossToNetBubble is alive and well. Here are UCB #drug pricing for 2024:
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
FYI: #GrossToNetBubble is alive and well. Here are UCB #drug pricing for 2024:
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
March 2, 2025 at 2:15 PM
FYI: #GrossToNetBubble is alive and well. Here are UCB #drug pricing for 2024:
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
List prices: +5.0%
Net prices: -7.8%
Avg. reduction from list price: -54.1%
#DPFE #facts
buff.ly/3EQGG5l
ICYMI: Blue Shield of California's unbundled #PBM model promised "$500 million in medication savings.” New caveat: It "won’t always mean lower prices for each specific #prescription #drug." Sorry, your $1 Rx may now cost $15. 👇Complexity is the enemy of low costs and efficiency!
drugch.nl/41CjsZI
drugch.nl/41CjsZI
March 1, 2025 at 2:20 PM
ICYMI: Blue Shield of California's unbundled #PBM model promised "$500 million in medication savings.” New caveat: It "won’t always mean lower prices for each specific #prescription #drug." Sorry, your $1 Rx may now cost $15. 👇Complexity is the enemy of low costs and efficiency!
drugch.nl/41CjsZI
drugch.nl/41CjsZI
Available for preorder: 𝐓𝐡𝐞 2025 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐔.𝐒. 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐢𝐞𝐬 𝐚𝐧𝐝 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬
12 chapters, 560+ pages, 267 exhibits, ~1,200 endnotes 👇
Free 30-page overview: drugch.nl/2025overview
Full details: drugch.nl/pharmacy
*** Special preorder discounts ***
12 chapters, 560+ pages, 267 exhibits, ~1,200 endnotes 👇
Free 30-page overview: drugch.nl/2025overview
Full details: drugch.nl/pharmacy
*** Special preorder discounts ***
February 26, 2025 at 4:03 PM
Available for preorder: 𝐓𝐡𝐞 2025 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐔.𝐒. 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐢𝐞𝐬 𝐚𝐧𝐝 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬
12 chapters, 560+ pages, 267 exhibits, ~1,200 endnotes 👇
Free 30-page overview: drugch.nl/2025overview
Full details: drugch.nl/pharmacy
*** Special preorder discounts ***
12 chapters, 560+ pages, 267 exhibits, ~1,200 endnotes 👇
Free 30-page overview: drugch.nl/2025overview
Full details: drugch.nl/pharmacy
*** Special preorder discounts ***
Warped incentives update: Stelara #biosimilars launching at deeply discounted WAC list prices. Will plan sponsors pop the #GrossToNetBubble and adopt?
More #PBM private labels coming soon...or maybe not given JNJ/Samsung lawsuit?
Source: drugch.nl/3Xkbi5Q
More #PBM private labels coming soon...or maybe not given JNJ/Samsung lawsuit?
Source: drugch.nl/3Xkbi5Q
February 25, 2025 at 2:58 PM
Warped incentives update: Stelara #biosimilars launching at deeply discounted WAC list prices. Will plan sponsors pop the #GrossToNetBubble and adopt?
More #PBM private labels coming soon...or maybe not given JNJ/Samsung lawsuit?
Source: drugch.nl/3Xkbi5Q
More #PBM private labels coming soon...or maybe not given JNJ/Samsung lawsuit?
Source: drugch.nl/3Xkbi5Q
𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐔𝐩𝐝𝐚𝐭𝐞: 𝐄𝐱𝐭𝐫𝐚 𝐒𝐩𝐚𝐜𝐞𝐬 𝐍𝐨𝐰 𝐎𝐩𝐞𝐧 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐃𝐫𝐮𝐠 𝐂𝐡𝐚𝐧𝐧𝐞𝐥𝐬 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐅𝐨𝐫𝐮𝐦
Due to an overwhelming response, we've expanded our meeting space. To secure your spot, you'll need to request an invitation and receive approval.
==> drugch.nl/DCLF
Due to an overwhelming response, we've expanded our meeting space. To secure your spot, you'll need to request an invitation and receive approval.
==> drugch.nl/DCLF
February 23, 2025 at 2:00 PM
𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐔𝐩𝐝𝐚𝐭𝐞: 𝐄𝐱𝐭𝐫𝐚 𝐒𝐩𝐚𝐜𝐞𝐬 𝐍𝐨𝐰 𝐎𝐩𝐞𝐧 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐃𝐫𝐮𝐠 𝐂𝐡𝐚𝐧𝐧𝐞𝐥𝐬 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐅𝐨𝐫𝐮𝐦
Due to an overwhelming response, we've expanded our meeting space. To secure your spot, you'll need to request an invitation and receive approval.
==> drugch.nl/DCLF
Due to an overwhelming response, we've expanded our meeting space. To secure your spot, you'll need to request an invitation and receive approval.
==> drugch.nl/DCLF
Via @Avalere: #Medicare Part D Coverage of MS Drugs Declined in 2025. PDPs have worse coverage than MA-PD plans, esp. for brand-name drugs w/o generics. Thanks, #IRA!
Source: https://buff.ly/3ELTGsZ
Source: https://buff.ly/3ELTGsZ
February 20, 2025 at 1:15 PM
Via @Avalere: #Medicare Part D Coverage of MS Drugs Declined in 2025. PDPs have worse coverage than MA-PD plans, esp. for brand-name drugs w/o generics. Thanks, #IRA!
Source: https://buff.ly/3ELTGsZ
Source: https://buff.ly/3ELTGsZ
Interesting GAO review of TRICARE #pharmacy network (managed by Express Scripts $CI).
- About 15K independent #pharmacies left network in 2022. Fewer than 6K rejoined.
- 98% of beneficiaries still w/in 15 minute drive of network pharmacy
Source: https://buff.ly/4b59OBR
- About 15K independent #pharmacies left network in 2022. Fewer than 6K rejoined.
- 98% of beneficiaries still w/in 15 minute drive of network pharmacy
Source: https://buff.ly/4b59OBR
February 19, 2025 at 1:15 PM
Interesting GAO review of TRICARE #pharmacy network (managed by Express Scripts $CI).
- About 15K independent #pharmacies left network in 2022. Fewer than 6K rejoined.
- 98% of beneficiaries still w/in 15 minute drive of network pharmacy
Source: https://buff.ly/4b59OBR
- About 15K independent #pharmacies left network in 2022. Fewer than 6K rejoined.
- 98% of beneficiaries still w/in 15 minute drive of network pharmacy
Source: https://buff.ly/4b59OBR