Specialty drugs are occupying an increasing percentage of the pharmaceutical industry in the US. Specialty pharmacies providing the specialized services that go along with these drugs are also gaining prominence.
Furthermore, spending on specialty drugs is growing and constitutes about 46% of the total expenditure on drugs. While the overall drug prices have remained stable over the last few years, specialty drug prices have increased rapidly. High costs are affecting more patients, as their out-of-pocket costs are rising. Therefore, health plans and PBMs are formulating strategies to address soaring costs.
Additionally, the largest insurers, PBMs, specialty pharmacies, and healthcare providers have combined into vertically integrated organizations to manage the increasing pharmacy and medical costs. These insurer/PBM/specialty pharmacy/provider organizations are poised to transform the US drug value chain.
This point of view report explores the changing dynamics of the specialty pharmacy industry and highlights implications for pharmaceutical companies in terms of demand generation, pull-through, and persistence.
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