Contract Negotiation is Leading Factor in Improving Formulary Placement of Newer Entrants to Antidiabetic Market, According to a New Report from HealthLeaders-InterStudy and Fingertip Formulary
NASHVILLE, Tenn. and GLEN ROCK, N.J., Feb. 2 /PRNewswire/ -- HealthLeaders-InterStudy and Fingertip Formulary find that less than two-thirds of surveyed pharmacy directors expect to reimburse both Bristol-Myers Squibb/AstraZeneca's Onglyza and Takeda's alogliptin once they become available. Sixty-two percent of surveyed pharmacy directors say they expect their managed care organization to reimburse both products, while 26 percent say they expect their organization to reimburse only one. Seventy-eight percent of surveyed pharmacy directors say it is either likely or very likely they will reimburse Novo Nordisk's Victoza upon FDA approval.
According to the new Formulary Forum report entitled Formulary Advantages in Type 2 Diabetes: Impact of Current and Future DPP-IV Inhibitors and GLP-1 Analogues on Advantaged Reimbursement Status for Key Brands, 62 percent of surveyed pharmacy directors say their managed care organization would place Onglyza or alogliptin on Tier 1 or 2 if the agent were priced at $4.00 per treated day, but fewer (24 percent) would place it on Tier 1 or 2 if priced at $5.00 per treated day.
The report also finds that more surveyed pharmacy directors say that contract negotiations are important when improving the formulary position of Merck's Januvia and Amylin/Eli Lilly's Byetta than say safety or efficacy gains leading to downstream cost savings. Both recent entrants in the antidiabetic market, Januvia and Byetta are covered on 85 percent of health plans.
"Our survey reveals that contracting is a leading factor for pharmacy directors looking at products in the antidiabetic market," said Michael Malecki, Ph.D., business analyst with HealthLeaders-InterStudy. "Determining the optimal pricing 'sweet spot' will be important to drive uptake of emerging agents."
About Formulary Advantages in Type 2 Diabetes: Impact of Current and Future DPP-IV Inhibitors and GLP-1 Analogues on Advantaged Reimbursement Status for Key Brands
The new Formulary Forum report is based on a survey of 50 pharmacy directors who control national, regional and state-level managed care organizations (MCO). Answers were segmented by type of plan to illustrate variances in strategy by size of plan. The easy-to-use PowerPoint format allows easy visualization of data and easy incorporation of material into presentations.
About Fingertip Formulary
Fingertip Formulary (www.FingertipFormulary.com) offers comprehensive formulary data covering commercial, Medicaid, Medicare and PBM plans, among others, in the United States. The company offers a variety of unique data and marketing solutions that provide access to and insight into formulary data for the pharmaceutical industry, consultants and healthcare providers. Fingertip Formulary is a Decision Resources, Inc. company.
HealthLeaders-InterStudy, a Decision Resources, Inc. company, is the authoritative source for managed care data, analysis and news. For more information, please visit www.HL-ISY.com.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Both HealthLeaders-InterStudy and Fingertip Formulary are Decision Resources, Inc. companies. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
For more information, contact:
Lisa Osgood Elizabeth Marshall HealthLeaders-InterStudy Decision Resources, Inc. 781-296-2606 781-296-2563 email@example.com firstname.lastname@example.org
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|SOURCE HealthLeaders-InterStudy; Fingertip Formulary|
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