CVS Pharmacy & Business News

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Report: CVS formulary to swap Neupogen, Lantus for biosimilars next year

USA Today is reporting that CVS Health has announced plans to remove two biologic drugs, Neupogen and Lantus, from its pharmacy benefits manager (PBM) formulary in 2017 and replace them with biosimilars of the drugs, substituting Zarxio for Neupogen and Basaglar for Lantus. Biosimilars cost about 15% to 30% less than the original biologics. CVS’s EVP and chief medical officer Troyen Brennan told USA Today that the biologics were reviewed by panels of experts “to make sure they are considered equivalent. (USA Today)

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Health and wellness retailing evolves

Health care is taking up a larger share of the consumer wallet. By 2021, Americans are expected to devote 24% of all household spending on healthcare goods and services, making consumer-directed care one of the largest potential areas of growth for retailers.

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Millennials redefine in-store experience

As millennials have cemented themselves as the largest generation by population at 75.4 million, outnumbering baby boomers for the first time, the retail industry has been inundated with insights about their shopping habits.