FLINT, Mich., Feb. 21, 2018 /PRNewswire/ -- Diplomat
Pharmacy, Inc. (NYSE: DPLO) plans to combat rising healthcare
costs throughout 2018 by advancing generic drugs, biosimilars, and
affordable brand medications.
Joel Saban, president of
Diplomat, said the growing market for high-cost specialty drugs in
the U.S. drives up costs for health plans and patients.
"With 90 percent of traditional medications now filled as
generics, specialty pharmacy costs are driving pharmacy spend for
payers," Saban said. "To offer real solutions to today's
challenges, we need a new model with a diverse set of assets. The
need for specialty benefit management solutions has never been more
urgent."
Saban noted an enhanced split-fill program as an example of
Diplomat's cost-saving measures. In early 2018, the company
increased the number of drugs included in the program by 78
percent.
"This program can save up to 50 percent per patient," Saban
said. "We give patients a two-week supply at the start of a new
therapy. This allows us to mitigate waste in the event a patient
needs to change therapies early on. In avoiding medication waste,
we reduce spend for both the payer and patient."
Diplomat also saves health plans money, Saban said, by providing
alternative generic medications. He said approximately $2,400 is saved per month for each patient moved
to generic oral oncolytic medication and $1,800 for each patient moved to generic multiple
sclerosis medication.
Jeff Park, interim CEO of
Diplomat, said the company is also watching the biosimilar market
closely for opportunities to help drive prices lower.
"We view biosimilars as a key lever in managing the rising cost
of specialty spend," Park said. "Biosimilars have struggled to gain
footing in the U.S. due to litigation. However, we expect the
environment to become more favorable soon. This should lead to
expanded biosimilar use and more affordable care."
Diplomat recently published a report on the specialty drug
pipeline and Food and Drug Administration (FDA) approvals.
According to the report, the FDA's Center for Drug Evaluation and
Research approved 46 novel new drugs in 2017—the most since 1996
and more than double the 2016 total.
"The robust specialty drug pipeline—with new drugs and expanded
indications for previously approved treatments—continues to drive
industry growth," Saban said. "One of Diplomat's core strengths is
staying ahead of the specialty pipeline curve. We start building
relationships with innovative new companies years before product
launch. This is important in continuing to increase our access to
limited-distribution drugs."
Saban said Diplomat remains dedicated to improving patient
experiences and outcomes across the continuum of care.
"We want to make sure patients receive the most effective
treatment at a price they can afford," Saban said. "Reviewing new
generics and biosimilar products—incorporating cost-saving
strategies as appropriate—these steps bring Diplomat closer to
meeting these urgent needs."
To learn more about Diplomat, visit diplomat.is.
Forward-Looking Statements
This press release contains
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements give current expectations or
forecasts of future events or our future financial or operating
performance and may include Diplomat's expectations regarding
benefits of business and growth strategies. The
forward-looking statements contained in this press release are
based on management's good-faith belief and reasonable judgment
based on current information. These statements are qualified
by important risks and uncertainties, many of which are beyond our
control, that could cause our actual results to differ materially
from those forecasted or indicated by such forward-looking
statements. These risks and uncertainties include: our ability to
adapt to changes or trends within the specialty pharmacy industry;
our relationships with key pharmaceutical manufacturers; our
ability to expand the number of specialty drugs we dispense and
related services; and the additional factors set forth in "Risk
Factors" in Diplomat's Annual Report on Form 10-K for the year
ended Dec. 31, 2016, and in
subsequent reports filed with or furnished to the Securities and
Exchange Commission. Except as may be required by any
applicable laws, Diplomat assumes no obligation to publicly update
such forward-looking statements, which are made as of the date
hereof or the earlier date specified herein, whether as a result of
new information, future developments or otherwise.
About Diplomat
Diplomat (NYSE: DPLO) is the nation's
largest independent provider of specialty pharmacy services—helping
patients and providers in all 50 states. The company offers
medication management programs for people with complex chronic
diseases and delivers unique solutions for manufacturers,
hospitals, payers, providers, and more. Diplomat opened its doors
in 1975 as a neighborhood pharmacy with one essential tenet: "Take
good care of patients and the rest falls into place." Today, that
tradition continues—always focused on improving patient care and
clinical adherence. For more information, visit diplomat.is.
CONTACT:
Kali Lucas,
Public Relations Specialist
810.768.9580 | press@diplomat.is
Kelly Pokuta, Senior Vice
President,
Industry Relations
810.768.9282 | kmcgrailpokuta@diplomat.is
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SOURCE Diplomat Pharmacy, Inc.