N.J. specialty pharmacy wins URAC accreditation
NEW YORK — URAC has granted accreditation to Parkway Pharmacy, a specialty pharmacy based in New Jersey.
The pharmacy said Monday that it had received URAC’s full Specialty Pharmacy Accreditation. Parkway was established in 2010.
"By applying for and receiving Specialty Pharmacy Accreditation, Parkway Pharmacy has demonstrated a commitment to quality health care," URAC COO William Vandervennet said. "Quality health care is crucial to our nation’s welfare, and it is important to have organizations that are willing to measure themselves against national standards."
AmerisourceBergen launches new Pharmacy Ownership Program
VALLEY FORGE, Pa. — AmerisourceBergen on Monday announced the launch of the company’s new Pharmacy Ownership Program, a new network with resources established to assist independent community pharmacists in selling their business to prospective buyers or expanding their current business to additional locations. In conjunction with the announcement, AmerisourceBergen launched Buysellpharmacy.com.
“We are committed to helping independent community pharmacies meet their business goals," AJ Caffentzis, SVP sales and marketing at Amerisource said. "We understand that the interest of a pharmacy owner may be different throughout the life of the business — whether a pharmacist is looking to expand their business to multiple locations, or looking to downsize in preparation for retirement and potentially sell their store,” he said. “Our team of experienced pharmacy ownership consultants is available to guide [a prospective owner] every step of the way and provide confidential assistance from the initial planning to final sale.”
Through the Pharmacy Ownership Program, current pharmacy owners who are looking to sell their business are matched with qualified buyers who are interested in purchasing an independent community pharmacy. AmerisourceBergen’s pharmacy ownership consultants assist both potential buyers and sellers, without a brokerage fee, to identify a location in the market area of interest, provide financing options with established bank partners, and finalize the sale.
Biosimilars market to reach $1.95 billion by 2018, study finds
DALLAS — The global market for biosimilars is expected to be worth nearly $2 billion before the end of the decade, according to a new study.
MarketsandMarkets, a Dallas-based research company, looked at the global market for biosimilars – knock-off versions of biotech drugs – including monoclonal antibodies, erythropoietins, recombinant proteins and peptides, forecasting $1.954 billion in market value by 2018.
According to the report, the largest segment of the market consists of recombinant protein products like filgrastim and insulin, accounting for a 40% share and with an estimated value of $314.2 million, with 17.5% annual growth through 2018. Meanwhile, the fastest growing segment is monoclonal antibodies, which are forecasted to grow by 40% per year during the same period.
Europe has about 40% of the market, while Asia-Pacific commands 29% and is considered the fastest-growing. Meanwhile, the U.S. market has yet to take shape as the Food and Drug Administration continues working on regulations for biosimilars, as mandated by a provision in the Patient Protection and Affordable Care Act that created a regulatory approval pathway for them.
Sandoz, the generics arm of Swiss drug maker Novartis, accounts for half of the total biosimilar market, while other major players include Hospira, Teva, Dr. Reddy’s Labs, Biocon, Mylan, Biopartners, Amgen, Intas Biopharmaceutical and Innovent Biologics.