Sep 11, 2015
Magellan Rx Management Hosts 12th Annual Specialty Summit

Sold-out crowd discusses PCSK9 impact, Hep-C treatment, among other topics of interest across the industry

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- A sold-out crowd gathered in New York City from September 1-3, 2015, where Magellan Rx Management, the pharmacy benefit management division of Magellan Health, Inc. (NASDAQ: MGLN) recently hosted its 12th annual Specialty Summit. Discussion focused on developments within the Proprotein Convertase Subtilisin/Kexin Type 9 (PCSK9) class of drugs, new Hepatitis C treatments and the associated costs, as well as other challenges and advancements in the management of specialty drugs. More than 300 representatives of health plans, employer groups, states, third party administrators, oncologists and practice managers, consultants, brokers and pharmaceutical manufacturers participated in the three-day symposium.

"At Magellan Rx Management, we believe that the thoughtful debate and dialogue featured each year at our Specialty Summit drives new, innovative thinking and helps generate creative solutions to complex pharmacy challenges," said Mostafa Kamal, chief executive officer of Magellan Rx Management. "Attendees have come to expect candid and thought-provoking panelists and presentations that help to advance the industry as a whole, and we are thrilled to host the right environment to accomplish just that."

The new PCSK9 inhibitor medications, with a cost exceeding $14,000 per patient and a target population that could grow substantially, remain a timely concern to payers. Dr. Jorge Plutzky, director of preventive cardiology at Brigham and Women's Hospital, and a Harvard Medical School faculty member, led the discussion about PCSK9 inhibitors at the Specialty Summit.

"These drugs are a completely novel therapeutic strategy and may be particularly important in individuals with high cardiovascular disease risk, including those with familial hypercholesterolemia," Plutzky said. "Clinical outcomes data expected over the next few years will further help determine PCSK9 inhibitor use in the statin era."

The management of Hepatitis C was another timely topic discussed at this year's Specialty Summit. "The new treatment regimens for Hepatitis C have brought to light the amazing advances that we have made to nearly eradicate a previously chronic and often debilitating disease," said Dr. Munish Khaneja, EmblemHealth's vice president of medical management and pharmacy operations. "The management of specialty drugs has also changed the way we look at pharmacy costs, elevating the need to not only include them as part of the total cost of medical care but also find novel ways to effectively manage and predict these costs."

In addition to the potential impact of the PCSK9 drugs and strategies for managing Hepatitis C, other topics covered during this year's Specialty Summit included:

  • The impact of biosimilars on the pharmaceutical industry and health plans.
  • Strategies for managing medical benefit drugs.
  • The emerging cost of orphan drugs.

Magellan Rx Management is a pharmacy benefit manager that specializes in solving complex pharmacy challenges for its customers. Magellan Rx Management offers full-service capabilities, including formulary management, claims processing, specialty pharmacy management, targeted clinical solutions and home delivery service.

About Magellan Health: Headquartered in Scottsdale, Ariz., Magellan Health, Inc. is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan develops innovative solutions that combine advanced analytics, agile technology and clinical excellence to drive better decision making, positively impact health outcomes and optimize the cost of care for the members we serve — all within a customer-first culture. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies, third party administrators, consultants and brokers. For more information, visit MagellanHealth.com.

Magellan Health, Inc.
Media Contact:
Colleen Flanagan Johnson, 860-507-1923
cefjohnson@magellanhealth.com
or
Investor Contact:
Renie Shapiro Silver, 877-645-6464
rshapiro@magellanhealth.com

Source: Magellan Health, Inc.

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