Avella provided more than $7 million in financial assistance to patients last year
PHOENIX — Avella Specialty Pharmacy provided more than $7.2 million in financial assistance to patients last year, the company said Thursday.
The Phoenix-based specialty pharmacy said its representatives work with patients to secure funding to cover specialty medication costs as specialty drugs can often be too expensive, even for patients with health insurance and monthly co-pays in the hundreds or even thousands of dollars.
"Our goal at Avella is for patients to avoid having to make a financial choice between their medications and other necessities," Avella VP clinical affairs Eric Sredzinski said. "Our team is uniquely skilled at securing funds to offset patient medication costs. Providing this unexpected service to patients helps lessen their stress and gives them peace of mind as they go through a difficult journey."
Actavis to launch generic ADHD drug in December 2014
PARSAPPANY, N.J. — Actavis can launch a generic version of an attention deficit hyperactivity disorder drug made by Shire next year under an agreement between the two companies announced Thursday.
The drug makers said they settled a patent-litigation suit concerning the drug Intuniv (guanfacine hydrochloride), allowing Actavis to launch in December 2014 and also settling outstanding litigation against a regulatory filing by Actavis predecessor Watson for Food and Drug Administration approval of a generic version of the drug. The FDA approved Actavis’ version of the drug in October 2012 and, as the first company to file a complete application with the agency, Actavis is entitled to 180 days of market exclusivity in which to compete directly with the branded version after launching it.
Under the deal with Shire, Shire will receive a 25% royalty on Actavis’ gross profits from the drug.
Intuniv had sales of about $475 million during the 12-month period that ended in January, according to IMS Health.
Cardinal Health, McKesson renew pharmaceutical distribution agreements with CVS Caremark
DUBLIN, Ohio — Cardinal Health and McKesson separately announced the renewal of their pharmaceutical distribution agreements with CVS Caremark.
Under Cardinal Health’s renewed agreement, the wholesaler stated that it will supply pharmaceuticals to a network of CVS Caremark’s retail pharmacies and distribution centers through mid-2016. The stores and distribution centers serviced under the new arrangement are essentially the same as those serviced in the prior arrangement.
"CVS Caremark has been a long and valued partner to Cardinal Health. We are excited to continue to build on that tradition. We look forward to working together to create value for our evolving heathcare system," stated George Barrett, chairman and CEO of Cardinal Health.
Meanwhile, McKesson, which generally serves the PBM side of the business, also has announced the renewal of its current distribution agreement with CVS Caremark.
“We are extremely pleased to continue our long standing relationship with CVS Caremark,” stated Paul Julian, EVP and group president of McKesson. “McKesson’s comprehensive supply chain solutions continue to help CVS Caremark ensure the highest levels of product availability and product integrity, empowering CVS Caremark to provide outstanding pharmaceutical care to its customers.”