Large pharmaceutical companies continue to grow, buying independent labs and small pharmacies across the US. The top two pharmacies, Walgreens and CVS, have completed a variety of buyouts over the past few years, resulting in a massive takeover in the pharmaceutical industry.
After Rite Aid bought EnvisionRX, Walgreens swooped in buying Rite Aid in a $17.2 billion deal. This buyout allowed Walgreens to become the largest pharmacy in the nation with 13,000 stores. Similarly, CVS recently bought Target pharmacy in a $1.9 billion deal. This resulted in a takeover of more than 1,600 pharmacies in 47 states. Combined, Walgreens and CVS control over 22,000 pharmacies of an estimated 67,000 across the US.
As pharmaceutical powerhouses continue to grow, competition in the market continues to decrease. As a result, people have less options on the pharmacy they use and the price they pay for prescription medicine. Most pharmacies have taken advantage of this, charging a higher price for generic medicines that are low cost to the pharmacy. For specialty medicines that do not have generic equivalencies, pharmacies ask for even higher prices.
Any pharmacy can charge you a co-pay that is more or less than the average price based on your insurance plan. Don’t you want to know all the options so you aren’t throwing away your hard earned money?
With prices of prescriptions increasing, there is a higher cost for benefit plans if a company uses traditional means. How would you like to take control of the price you pay for prescription drugs? BCR is ready with options to put a unique program in place to reduce these potential costs.
Call us today at 888-633-5850 to talk with a BCR specialist about available health care options for your company.
A workplace culture that revolves around fear creates an unhealthy work environment for not just the employees, but also the company’s future growth. Fear conditioning can cause people to become afraid of raising questions about why things are done the way they are. Ultimately, stopping employees from thinking about if things can be done better.
The Five Monkeys Experiment accurately portrays the full effect of fear conditioning. In this experiment, the monkeys are forced into thinking that something had to be done a certain way without any explanation.
But this does not just apply to these monkeys. If you always do what you have always done, you will continue to receive the same results. Do not let fear in the company prevent you from seeking opportunity when it arrives.
Take charge of your medical insurance and get the price your company deserves. BCR can help open the door so you know all the health care opportunities available. Eliminate your fear and take action in making the right steps to set your company up for success.
Read The Five Monkeys Experiment (with a new lesson) by John Stepper for more information on the experiment and how to prevent fear conditioning in the workplace today.
Earlier this week, Pfizer announced its plans to buy Medivation Inc., a top independent biotech, for $14 billion. Generating about $2 billion in sales annually, Medivation’s leading prostate-cancer drug, Xtandi, is one of the only prostate-cancer treatments that is approved and selling well in the industry.
In the article, “Pfizer to Buy Medivation for $14 Billion”, Jonathan D. Rockoff writes:
“Pfizer has been seeking to expand its lineup of such oncology treatments. Xtandi would give the New York drug company a beachhead in prostate cancer complementing its breast-cancer treatment Ibrance, which is on track to be a blockbuster.”
With roughly $80 billion in sales annually, cancer is one of the biggest markets in the pharmaceutical industry. This makes cancer agent drugs, similar to Xtandi, extremely valuable to companies creating bidding wars for ownership. Having the rights to such drugs provides the opportunity to further develop these cancer agents with immunotherapy.
Read the full article, Pfizer to Buy Medivation for $14 Billion, from the Wall Street Journal for more information.
Last week, the Obama administration released a data analysis stating that costs remained the same over the first and second year of the Affordable Care Act (ACA) for people who obtain their own health care. As a result, big insurance companies are forced to make dramatic premium increases in the coming year.
In the article, “Obama Administration Counters Insurer View on Healthcare Law’s Costs”, Louise Radnofsky writes:
“Health insurers already have filed proposed rates for the year ahead with state regulators, and big plans across the country are seeking hefty premium increases because of what they say are substantial losses in the first few years of the law’s implementation.”
This news is critical to shed light that it is in people’s best interest to look for alternatives to the typical insurance company because of the inflated rates ahead. At BCR, we can help you find all the options available to ensure that your healthcare dollars are spent effectively.
Read the full article, Obama Administration Counters Insurer View on Healthcare Law’s Costs, from the Wall Street Journal for more information.
As one of the industry’s hottest research areas, which are drugs that harness the body’s immune system to fight cancer, a recent study on Bristol-Myers’s drug, Opdivo, proved immunotherapies might not be all they are hyped up to be. A clinical trial revealed a surprise failure stating that Opdivo wasn’t significantly better than chemotherapy on patients with newly diagnosed lung cancer. Not only did this discovery knock Bristol-Myers from leading the market for cancer immunotherapies, but also it could be detrimental to the pharmaceutical industry.
Read Drug’s Failure Sows Therapy Doubt for more information about the results of Bristol-Myers’s clinical trial.