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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.

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.

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.”

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 […]

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.

Spread pricing by pharmacy benefit managers (PBMs) is often portrayed in a negative light due to its perceived impact on drug costs and pharmacy reimbursements. However, it’s essential to explore the nuances of this practice to understand its full scope and potential benefits. While the criticism of spread pricing is valid in certain contexts, there’s another side to this coin that deserves attention. It is critical to dive into the complexities of spread pricing in order to find a balanced perspective on its role in the pharmaceutical industry.

“What excites me most about my work is finding myself in a place that values taking care of its people as the foundation of a successful business. Recognizing the human element within the organization and fostering a supportive environment is key. I love to witness the positive impact of embracing authenticity and vulnerability, allowing individuals to be their true selves in an atmosphere where they feel safe to challenge themselves and grow. This approach aligns with my personal belief that genuine care for people leads to both personal and collective success.”

The Biden administration has announced a new framework to enforce the government’s “march-in” rights to seize patents on drugs developed with taxpayer funding if it deems that their prices are unreasonably high.

Today’s finance chiefs predict their future, from the role of AI to the changing workplace.