New Drug Channels Institute Study Finds Three Companies Dominate Specialty Pharmacy, Identifies Key Trends Affecting Profitability
PHILADELPHIA (BUSINESS WIRE) January 28, 2014—Today the Drug Channels Institute, a leading management educator for and about the pharmaceutical industry, released the results of its exclusive, in-depth analysis of the rapidly expanding specialty pharmacy industry. “Three companies—Express Scripts, CVS Caremark, and Walgreens—account for 63% of revenues from pharmacy-dispensed specialty medications that treat such illnesses as cancer, multiple sclerosis, and rheumatoid arthritis,” said Drug Channels Institute CEO Adam J. Fein, Ph.D., the study’s author and a widely regarded expert on pharmacy economics and the pharmaceutical supply chain.
“By 2018, 50% of industry revenues will come from specialty drugs,” Fein added. “Drugstores, hospitals, physician, wholesalers, and health plans are all battling for position in this fast-growing market.”
These findings are among the many new revelations and trends in Drug Channels Institute’s just-released 2013-14 Economic Report on Retail, Mail, and Specialty Pharmacies. This comprehensive, 185-page analysis of the $287 billion U.S. pharmacy industry thoroughly dissects its interactions with the U.S. healthcare system. With 98 proprietary charts, exhibits, and data tables, this new research report is the most complete examination of prescription economics, market structure, growth rates, and key trends affecting the industry’s profitability. “The generic wave and specialty boom will fundamentally restructure the U.S. pharmacy industry,” Fein reports.
What’s more, the institute analyzes how healthcare reform will affect pharmacies. It explores such factors as the healthcare coverage expansion, forthcoming Medicaid pharmacy reimbursement changes, the boom in narrow pharmacy networks for Medicare drug plans, and unprecedented growth in the 340B drug discount program.
To purchase and immediately download the new report, visit http://drugchannelsinstitute.com/products/industry_report/pharmacy/.
About Drug Channels Institute
Drug Channels Institute, a division of Pembroke Consulting, Inc., is a leading provider of specialized management education and computer-based training for and about the pharmaceutical industry. To learn more about its products, visit http://www.drugchannelsinstitute.com/. To access Dr. Fein’s popular Drug Channels blog, visit http://www.drugchannels.net.
Pembroke Consulting, Inc.
215-523-5700 extension 14
Source: Business Wire