PSyn News November 2021
CALENDAR OF EVENTS
OCTOBER 15 -DECEMBER 7
MEDICARE ANNUAL ENROLLMENT PERIOD
NOVEMBER 1 – DECEMBER 15
ACA MARKETPLACE ENROLLMENT PERIOD
NOVEMBER 9 -10
BCBS 2021 WOMEN’S LEADERSHIP FORUM
NOVEMBER 10-11
PRIME THERAPEUTICS STARS AND BID SUMMIT
NOVEMBER 11
VETERANS DAY
NOVEMBER 12
CEO BIRTHDAY
NOVEMBER 25
THANKSGIVING
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Pharmacy Matters
SPECIALTY DRUG NEWS
FDA ORPHAN DRUGS
In 1983, the US Congress passed the Orphan Drug Act (ODA), to incentivize the development of drugs to treat rare diseases, defined as those affecting less than 200,000 people in the US. Drug manufacturers enjoy tax credits, waived FDA patent application fees and the potential for a seven-year sales exclusivity period. Today, nearly half of all newly approved drugs have ODA status. There are 651 distinct orphan drugs that now attribute to 11% or $51 billion dollars of the US annual drug spend. Self-funded employers are tasked with balancing affordability and patient access to an increasing number of innovative, high-cost therapies.Read more.
CONTRACT TERM TIP OF THE MONTH
SPECIALTY DRUGS – WHAT IS ON YOUR LIST?
Although, we all are familiar with the term “specialty drug”, there is no industry
standard definition. Each PBM and health plan establishes their own specialty drug
definition and specialty drug list. This is important to understand when negotiating
your PBM agreements as pharmacy network discounts and rebate guarantees can be
easily manipulated by the inclusion or exclusion of drugs on the specialty drug list. To
learn more, contact us at [email protected].