Payers need innovative solutions for new class of costly drugs
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Following the approval of evolocumab (Repatha™; Amgen) by the Food and
Drug Administration (FDA) yesterday, Magellan Rx Management, the
pharmacy benefit management division of Magellan Health, Inc. (NASDAQ:
MGLN), today announced its ability to assist employers, health plans and
Medicaid programs in appropriately managing the use of Proprotein
Convertase Subtilisin/Kexin Type 9 (PCSK9) inhibitor medications.
Repatha is the second PCSK9 inhibitor to receive FDA approval, after
alirocumab (Praluent®; Sanofi/Regeneron) was approved earlier this
"As science continues to advance, this new class of drugs holds
considerable promise for the millions of Americans battling
cardiovascular disease everyday," said Mostafa Kamal, chief executive
officer of Magellan Rx Management. "However, in order to ensure optimal
outcomes and efficiently manage costs, payers must implement thoughtful,
evidence-based strategies to effectively manage this evolving drug
class. Magellan Rx Management's specialty drug division, which manages
specialty drug spend for approximately 40 health plans, has worked
closely with key experts in the field to develop targeted clinical
programs that foster best practices, support patient adherence and
encourage lifestyle interventions that can reduce cardiovascular risks."
In clinical studies, PCSK9 inhibitors have been well tolerated and
effective in lowering low-density lipoprotein (LDL) cholesterol in
multiple groups of patients with hypercholesterolemia, particularly when
used in addition to statin therapy, the established standard of care.
The potential target population for PCSK9 inhibitors may grow
substantially, with an annual cost exceeding $14,000 per patient.
Possible target treatment groups include patients with familial
hypercholesterolemia - estimated to be around one in 300 individuals1
in the United States - and patients with atherosclerotic cardiovascular
disease- estimated to be 22 million Americans2.
"While statins will remain a first line therapy to reduce cardiovascular
disease, certain groups of people may benefit from PCSK9 inhibitors. The
fundamental components of utilization management should include
identification of specific patient groups most likely to benefit from
PCSK9 therapy and the development of evidence-based practices to ensure
eligible patients are receiving appropriate lipid lowering therapy prior
to adding on a PCSK9 inhibitor," said Dr. Maria Lopes, chief medical
officer of Magellan Rx Management.
"If every patient diagnosed with familial hypercholesterolemia in the
country eventually started on a PCSK9 inhibitor, the cost to the
healthcare system would be roughly $16 billion annually, without
factoring in other patient groups at high risk for cardiovascular
disease," said Kamal. "The competition created in the market with the
approval of a second PCSK9 inhibitor allows Magellan Rx Management to
develop the most innovative and cost-effective formulary strategies to
appropriately manage the cost of these medications for our clients."
Magellan Rx Management will host its 12th annual Specialty
Summit on September 1-3, 2015, where more than 300 representatives of
health plans, employer groups, states, third party administrators,
oncologists and practice managers, consultants, brokers and
pharmaceutical manufacturers will participate in the three-day, sold-out
symposium. Dr. Jorge Plutzky, of Brigham and Women's Hospital, who is
board certified in internal medicine and cardiovascular disease, as well
as an associate professor at Harvard Medical School, will lead the
discussion about PCSK9 inhibitors at the Specialty Summit.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150828005343/en/
Magellan Health, Inc.
Renie Shapiro Silver, 877-645-6464
Source: Magellan Health, Inc.
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