Abarca, Amgen Enter Outcome-Based Agreement For Enbrel

Date : 12/03/2019 @ 2:10PM
Source : PR Newswire (US)
Stock : Amgen Inc (AMGN)
Quote : 222.79  0.65 (0.29%) @ 12:22AM
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Abarca, Amgen Enter Outcome-Based Agreement For Enbrel

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AVENTURA, Fla., Dec. 3, 2019 /PRNewswire/ -- Abarca, a pharmacy benefit manager (PBM) that is disrupting the industry with an entirely new approach to technology and business practices, today announced it has entered into an outcomes-based contract with Amgen (NASDAQ: AMGN) for the drug Enbrel® (etanercept). Under the agreement, Amgen will issue rebates to Abarca's clients for eligible members who discontinue the use of the drug after three months of treatment. This applies to members of commercial health plans who are using the drug for the treatment of moderate to severe rheumatoid arthritis.


"This is a win for all parties," said Jason Borschow, president and CEO of Abarca. "It will provide Amgen valuable information about how Enbrel® is utilized, it will lower costs for plans, and it will bring additional benefits to our healthcare system." 

Drugs that treat auto-immune conditions are the fastest-growing segment for commercial health plans. Enbrel® is a biologic medicine used to treat five inflammatory conditions and is one of the most highly utilized specialty drugs for this market. 

Outcome-based agreements have been a hot topic in the healthcare industry for several years. However, because most PBMs do not have the technology in place to track and report when a member discontinues a drug, relatively few have been implemented. The agreement announced today was made possible by Darwin, Abarca's smarter PBM platform, which tracks utilization in real-time and generates the detailed information drug makers need to issue a rebate. 

This is the second outcome-based between Abarca and Amgen. In 2018, the companies entered into an arrangement for Repatha--the first agreement of its kind involving this drug. That same year, Abarca announced an outcomes-based contract with Biogen for medications used to treat multiple sclerosis. 

"Amgen has been a great partner," continued Borschow. "Their dedication to learning about how patients interact with their medications is admirable, and we are looking forward to continuing to work together to find new approaches to serve our clients and members." 

Abarca is currently collaborating with several drug manufacturers for similar agreements. To learn more, visit abarcahealth.com.

About Abarca
Abarca is igniting a revolution in healthcare. It started by redefining pharmacy benefits, but this is just the beginning. It is built on the belief that there is a better way for people and companies to work together, connect with each other, and make healthcare awesome for everyone. With smarter technology and a straightforward approach to business, Abarca provides a much better experience and higher value for payers and consumers. For nearly a decade, they have challenged many industry conventions and trampled on a few. So, call them a PBM for discussion purposes, but they are unlike any other company out there. Join the revolution at abarcahealth.com.


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Copyright 2019 PR Newswire

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