High Costs of GLP-1 Drugs Fuel Debate
The development of glucagon-like peptide 1 receptor agonist drugs for the treatment of diabetes and obesity has sparked another debate around the cost of healthcare in the U.S. Studies show that these drugs effectively aid weight loss in patients with type 2 diabetes and obesity, but their U.S. price tags are a deterrent to many patients.
The Future Of Drugstore Retailing
After a recent conversation with Brandon Newman, CEO of XEVANT, I am convinced that there are many ways for drugstores to save at a time when competition is very intense, and operations are very costly.
Brandon, who spoke at PBMI (Pharmacy Benefit Management Institute), pointed to the underlying factors contributing to drugstore closures. They include operating costs that have increased greatly, forcing chains to close many lower-volume stores. We see that problem confronting many industries. However, in the pharmacy/drugstore industry, he also pointed out some unique industry challenges. He noted that drugstore companies may have difficulties securing the best/lowest drug prices since some government regulations require compliance.
Why Your Drugstore Is Closing
Among the reasons for store closures are rising drug prices, lower staff enrollment, and historic opioid lawsuits, which have impacted each company’s financial standing. Brandon Newman, CEO of data analysis company Xevant, told Newsweek: “First and foremost, rising drug costs are a central concern. As prices escalate, both pharmacies and patients are increasingly burdened. This not only affects pharmacies’ ability to manage inventory efficiently but also places a significant financial strain on patients. The impact on the business health of pharmacies is undeniable.”
The Impacts of March-In Rights on Healthcare and Drug Pricing
On December 7th, President Joe Biden’s administration proposed the potential use of march-in rights under the Bayh-Dole Act. This marks a pivotal moment in the landscape of drug pricing and healthcare. Xevant, a leader in healthcare analytics, is at the forefront of finding the equilibrium between making drugs affordable and fostering the continuous innovation crucial […]
Drive Demand For Your Brand With These 5 Proven Digital Marketing Strategies
In today’s fast-paced digital world, entrepreneurs and marketers must adapt and innovate to stay ahead. Digital marketing tactics have become a mainstay and key component of an omnichannel strategy, building brand and driving demand in competitive markets. These five strategies are designed to attract and engage clients, establish authority, and position your business as an industry leader.
