PHARMACY

Arete Pharmacy Network acquires RxPride

BY David Salazar
PHOENIX  — Pharmacy services administrative organization Arete Pharmacy Network on Friday announced that it would be acquiring the PSAO RxPride from Minnesota-based pharmacy buying group Smart-Fill Management Group. 
 
Arete Pharmacy Network — which was formed in March as a joint venture between H.D. Smith’s Third Party Network and American Associated Pharmacies’s United Drugs — said the acquisition would expand its geographical footprint as part of its effort to extend its programs and services to a larger pool of independent and small chain pharmacies. 
 
“Since the establishment of Arete Pharmacy Network, our efforts have been geared toward building a solid foundation for growth that will support independent pharmacies in their own efforts to improve quality performance and profitability,” Arete CEO Rob McMahan said. “Through the hard work and diligence of our staff as well as the support of our current member pharmacies, Arete Pharmacy Network is poised to achieve the next level of growth with the acquisition of RxPride.”
 
Both Arete and Smart-Fill Management Group work with independent pharmacies to serve their interests while also meeting the needs of pharmacy benefit managers and payers. 
 
“The expanded reach of Arete Pharmacy Network’s programs and services will provide the economies of scale and efficiency gains that an independent pharmacy requires for success in today’s healthcare environment,” Smart-Fill Management Group CEO Jeremy Johnson said. “Based on the demonstrated value of its services, Arete Pharmacy Network has earned a reputation as a quality PSAO and we are confident that the independent pharmacies previously served by RxPride are in very good hands.”
 

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Lilly, AstraZeneca to team on Alzheimer’s treatment development

BY David Salazar
INDIANAPOLIS — Eli Lilly and Co. and AstraZeneca are teaming up to co-develop a potential disease-modifying treatment for Alzheimer’s disease, the companies announced Friday. 
 
The focus of the initiative, which will see Lilly making an upfront payment of $30 million to AstraZeneca, is an antibody called MEDI1814, which can potentially slow the progression of the illness and is currently in Phase 1 trials. 
 
"At Lilly, we recognize the significant burden Alzheimer's disease places on patients, caregivers and our society, and we remain committed to finding ways to change the course of the disease," Lilly EVP science and technology and president of Lilly Research Laboratories Jan Lundberg said. "We are pleased to be expanding our alliance with AstraZeneca to further build our pipeline of potential medicines and diagnostic agents. AstraZeneca brings capabilities and expertise and most importantly shares our passion to bring new medicines to patients suffering from this debilitating illness."
 
AstraZeneca’s EVP IMED biotech unit and business development, Mene Pangalos, said, "We are excited to build on an already productive collaboration with Lilly, which combines the expertise of our two companies, with a new program focused on the amyloid-beta pathway. MEDI1814 has a unique mechanism among antibodies in clinical development and could provide a distinct approach to treating Alzheimer's disease."
 

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Cardinal Health CEO: Significant changes coming to the ACA

BY Brian Berk

DUBLIN, Ohio — The Trump Administration will make healthcare more competitive and place a greater emphasis on the consumer, Cardinal Health CEO George Barrett told Fortune during an interview.

“I do think that we’re going to see a more active consumer,” he said. “I think transparency is likely to increase and I do think that the system is becoming more patient-centered, and I think that’s a good thing.”

 “Every business should be concerned about anger of the population of the United States,” he continued. “For us as a health care company, I am happy with an active, knowledgeable consumer. I think that is actually good for our business. So that does not concern me. But in the big sense, the breakdown in trust in an angry America I think does concern me, and I think we’ve got a lot to think about as a country.”

Barrett also said a repeal to the Affordable Care Act may not be necessary, but he expects to see significant changes and would have also expected changes to the ACA had Hillary Clinton be elected president.

“I think we would expect pretty heavy modification to it. The question is where and in what priority,”

Barrett also discussed the possibility of consumers becoming more empowered regarding drug prices.

“Every business should be concerned about anger of the population of the United States,” he said. “For us as a health care company, I am happy with an active, knowledgeable consumer. I think that is actually good for our business. So that does not concern me. But in the big sense, the breakdown in trust in an angry America I think does concern me, and I think we’ve got a lot to think about as a country.”

Barrett concluded there is no “silver bullet” that will fix health care. “But if you make it centered around the patient, you’re on the right path.”

 

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