SXC buys HealthTrans for $250 million
LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions is buying PBM service company HealthTrans for $250 million, SXC said Thursday.
Based in Colorado with additional offices in Illinois, Florida and Georgia, HealthTrans provides PBM and healthcare information technology services to about 260 clients, and its PBM business includes a suite of PBM offerings, such as nationwide retail network, formulary and rebate management, Medicare Part D services and mail order.
"The acquisition of HealthTrans is a great fit with our strategy to acquire mid-market PBM customers that already utilize our HCIT services," SXC chairman and CEO Mark Thierer said. "HealthTrans is one of the largest privately held PBMs in the country. It has a diverse customer base and a track record of strong cash flow."
Lilly donates $4 million for tuberculosis drug discovery
SEATTLE — Drug maker Eli Lilly is donating more than $4 million to the Infectious Disease Research Institute, the company said Thursday.
The company said the funding, which brings its total donations to IDRI to more than $20 million and its total funding for anti-tuberculosis efforts to more than $170 million, will support early-phase drug discovery efforts focused on identifying new drugs for tuberculosis, including strains of the virus that have grown resistant to multiple drugs. The Lilly TB Drug Discovery Initiative was started in 2007.
"While preventable and treatable, nearly 1.5 million people die from TB and [multidrug-resistant] TB every year," Lilly chairman, president and CEO John Lechleiter said. "Today’s TB drugs are decades old and must be taken for extended periods of time, which present challenges for patients and healthcare providers."
Former Mercer executive named president of CVS Caremark’s Accordant business
WOONSOCKET, R.I. — CVS Caremark has appointed Kevin Murphy president for Accordant Health Services, a CVS Caremark company that provides disease management and case management services for people with rare chronic conditions.
Murphy is in charge of integrating the company’s leading rare disease management programs with its specialty pharmacy programs and new focus on medical pharmacy management.
"Kevin Murphy’s in-depth experience in specialty pharmacy, knowledge of the industry and strong client management background make him uniquely qualified to lead the Accordant business," stated Troyen A. Brennan, EVP and chief medical officer of CVS Caremark. "His expertise will enable us to further enhance our offerings focused on disease management for complex chronic diseases and identify innovative approaches to help these patients on their path to better health."
Murphy brings more than 20 years of experience in marketing, strategy and product development to CVS Caremark. He joined the company from Mercer, where he was a partner in the human resource consulting practice. Previously, Murphy led the market, strategy and development organization of Accredo, Medco’s specialty pharmacy division. While at Medco, as well as in a previous position with Physicians Health Services, Murphy held various leadership roles in sales, marketing, and product development.