PHARMACY

JDRF names Jeffrey Brewer president, CEO

BY Allison Cerra

NEW YORK The Juvenile Diabetes Research Foundation has appointed a new president and CEO.

Entrepreneur and philanthropist Jeffrey Brewer — who has been a JDRF volunteer since 2002 — was named the organization’s new leader. Brewer, as served as a director of JDRF’s international board since 2004, is a reviewer on JDRF’s Lay Review Committee (which judges the potential of diabetes research from the perspective of people impacted by diabetes), and has been an active member and donor for the foundation’s New York Chapter.

Prior to becoming the new leader of JDRF, Brewer was co-founder of Overture Services, formerly known as GoTo.com, in 1998; he also served as CEO and a director. GoTo.com was the first pay-for-placement and pay-for-click search advertising system.

“Jeffrey Brewer has all the qualities we were looking for in a leader for JDRF: experience in managing large and growing organizations, a detailed understanding of diabetes research, and a track record of success,” said Frank Ingrassia, chairman of the JDRF board of directors. “When you add to that a drive and passion for finding a cure, based on his own family experience with diabetes and the people around the world he has met in his years as a volunteer with JDRF, that’s a terrific combination to help us speed progress towards the cure.”

Added Brewer, “As a volunteer, it is so humbling and rewarding to work side by side with our passionate volunteers and our impressive staff in our collective effort to advance the pace of research leading to better treatments and cures for people with diabetes. I feel we are on the cusp of exciting research progress that can make a real difference in the lives of people living with this terrible disease – including some tangible advances delivered to patients in the not-too-distant future.  I’m honored to become a full-time part of driving us towards our goals, and helping us translate research into drugs and devices that will help people with Type 1 diabetes live better, longer and healthier, and ultimately to remove this disease from people’s lives forever.”

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PHARMACY

Walgreens, CVS Caremark announce new PBM network agreement

BY Allison Cerra

WOONSOCKET, R.I., and DEERFIELD, Ill. The nation’s top drug store chains have reached a new agreement in which one will continue as a participating member of the other’s pharmacy benefit management network.

Nearly two weeks after Walgreens announced that it would terminate its provider relationship with CVS Caremark’s PBM network — to which CVS Caremark responded it would terminate Walgreens’ participation in its retail pharmacy networks in 30 days for violating contract agreements — the two pharmacy giants have reached an agreement in which Walgreens will continue participating in the CVS Caremark pharmacy benefit management national retail network for existing, new or renewal plans. With the continuing participation of Walgreens, the CVS Caremark national pharmacy network will have more than 64,000 participating pharmacies, including neighborhood independent pharmacies, chain pharmacies and those located in supermarkets and other major retailers.

The companies are not disclosing the financial terms of the new contract.

“We are very pleased with the outcome of this mutual, multiyear agreement that meets our business objectives,” said Kermit Crawford, Walgreens EVP pharmacy. “The agreement makes good business sense, provides the framework we need to operate our business going forward and assures choice and convenience for the many consumers who look to us for quality pharmacy care. The agreement is good for our patients, pharmacists and shareholders, and will allow us to continue to meet the needs of our customers across the country through the CVS Caremark network.”

Per Lofberg, president of CVS Caremark’s PBM business, added, “We are pleased to have reached a mutually agreeable solution together with Walgreens that is consistent with our top priority to provide convenient access to affordable, high-quality pharmacy health care. This new contract enables Walgreens to continue participating in CVS Caremark’s PBM national pharmacy network, provides enhanced network stability, eliminates any current or long-term disruption for our clients or their members and allows us to continue to fulfill our obligation to deliver cost-effective pharmacy benefits for our clients.”

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Mylan gets approval for generic Zocor

BY Alaric DeArment

PITTSBURGH The Food and Drug Administration has approved a generic cholesterol medication made by Mylan, the company said Friday.

The FDA approved Mylan’s simvastatin tablets in the 5 mg, 10 mg, 20 mg, 40 mg and 80 mg strengths. The drug is a generic version of Merck’s Zocor.

Various versions of Simvastatin had sales of $361 million during the 12-month period ended in March, according to IMS Health.

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