P reventing and eliminating migraine is big business and Amgen and Novartis are looking for their anti-mi- graine drug Aimovig to become a $1 billion to $2 billion business over the next five years, said a Wall Street analyst. Aimovig, which recently received FDA approval, is a monthly preventative migraine treatment administered through a pen, similar to an insulin pen. The treatment, the first of its kind, is expected to have a potential user base of 10 million people in the U.S. alone. The treatment, priced at $575 a month or $6,900 a year, is still out of reach for many but some analysts had anticipated the drug would be priced as high as $10,000 a year so this is somewhat good news for those suffering from migraines.
C VS Health wants to make it easier for its pharmacists to find less costly drugs for patients. The drugstore chain is introducing a system that will check for less expensive alternatives, higher quantities at lower costs and discounts. CVS hopes it can help lower costs for its customers and in doing so, make sure they pick up their prescriptions. With drug costs rising in the US and Canada, and patients are paying more of their health-care bills out of their own pockets, many consumers are frustrated by the difficulty of comparing the cost of treatments branded versus generic to find the best solution for the customer. Pharmacists are typically only able to see if a drug is covered by the patient’s plan and what their out-of-pocket cost would be for the drug. With this new CVS system, Pharmacists will be able to compare prices and see less expensive and equally effective alternatives, such as generic drugs or therapy for their patients and have them contact their doctor to discuss writing a new script.
During the pilot program, CVS found that 95 percent of patients ask to switch when given the opportunity and 85 percent of doctors make the switch.
K ineta Chronic Pain LLC, which develops drugs for chronic pain, autoimmune and infectious diseases, recently inked a deal with pharmaceutical giant Genentech to develop non-opioid chronic pain treatment. The Seattle-based biotech, a subsidiary of Kineta Inc., received an undisclosed upfront payment as part of the deal and is eligible for milestone payments up to $359 million as well as royalty payments as part of the deal.
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SPOTLIGHT ON BUSINESS MAGAZINE • MAY 2018
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