PHARMACY

PCMA applauds Cuomo’s Medicaid proposal

BY Allison Cerra

WASHINGTON — In his 2011-2012 budget, New York governor Andrew Cuomo included a proposal to update New York’s Medicaid program. The announcement comes at the heels of New Jersey governor Chris Christie’s motion to modernize the state’s Medicaid plan.

Similarly to New Jersey’s plan, Cuomo said New York’s “Proposal to Redesign Medicaid” could save state taxpayers $350 million though 2015 by managing prescription drug benefits similarly to those in Medicare and private-sector programs.

The Pharmaceutical Care Management Association lauded Cuomo’s proposal, noting that New York’s Medicaid program could save $2.3 billion over the next decade by managing pharmacy benefits more like Medicare, Medicaid managed care plans and commercial-sector employer plans, citing a recent PCMA-commissioned study.

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PHARMACY

NACDS to host 2011 Supply Chain and Logistics Conference

BY Allison Cerra

ALEXANDRIA, Va. — The National Association of Chain Drug Stores is gearing up to host a conference designed for retail and manufacturer supply chain executives and logistics professionals.

The 2011 NACDS Supply Chain & Logistics Conference will be held at the Manchester Grand Hyatt in San Diego from March 13 to March 15.

The NACDS conference will cover a wide range of cutting-edge and emerging business topics, and will feature one-on-one business meetings and education and business programs.

For more information and to register, click here.

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MedfusionRx acquisition boosts SXC’s 2010 sales

BY Alaric DeArment

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions had revenues of $1.95 billion in 2010, compared with $1.44 billion in 2009, according to an earnings report released Thursday.

Profit for the year was $64.7 million, compared with $46.1 million in 2009.

“Our 2010 results demonstrate how effectively we can compete in the PBM space with our high-performance technology platform coupled with our comprehensive clinical offering and focus on client service,” SXC president and CEO Mark Thierer said. “We have all the elements in place to continue to grow and to take SXC to the next level.”

Highlights for the year included the purchase of specialty pharmacy provider MedfusionRx, a move that the company said would enhance its capabilities in the specialty space.

“The acquisition of MedfusionRx is a great example of our approach to expanding our scale and skill in strategic areas, like specialty pharmacy, in order to support our continuing organic growth,” Thierer said.

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