Specialty drugs continue to dominate the pharma pipeline, which has literally hundreds of these therapies poised to hit the market. Some will add to therapeutic classes that already have multiple options, while others are indicated for conditions that previously had essentially no treatments available. But innovative new therapies don’t come cheap, as more and more drugs are hitting the market with price tags of $50,000 to $100,000 and up per member per year. In addition, manufacturers are focusing more on targeted therapies for people with a specific genetic makeup, orphan and ultra-orphan drugs and oral treatments in conditions that previously had only infusible medicines. With the impending explosion in expensive treatment options, payers need to make sure their drug management strategies are evolving in ways that will take advantage of exciting new therapies without demolishing their bottom line. With some estimates projecting almost a doubling of growth within the specialty pharmacy industry, there is no time to waste.
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Hear two industry experts discuss which specialty drugs are expected to enter the U.S. marketplace soon and what strategies can be employed to improve patient outcomes while managing costs in a responsible way. You’ll get valuable perspectives on:
ATHEER KADDIS, Pharm.D., is senior vice president sales and business development with Diplomat Specialty Pharmacy. His responsibilities include business development, manufacturer contracting, sales, managed markets and specialty infusion. Dr. Kaddis began his career as a staff pharmacist at William Beaumont Hospital in Troy, Mich., and continued his hospital pharmacy experience as a clinical oncology specialist at Grace Hospital in Detroit; he also worked in the community pharmacy setting. Dr. Kaddis joined Blue Cross Blue Shield of Michigan in 1997 as clinical program manager dedicated to the Ford Motor Company account and also had drug information responsibilities. He joined Merck-Medco in 2000 as associate director in clinical account management and then returned to the Michigan Blues plan as director of pharmacy services, clinical, with responsibilities including formulary development, clinical program development, utilization management programs, specialty pharmacy programs and pay-for-performance programs. Dr. Kaddis received his Doctor of Pharmacy degree from Wayne State University in 1994. He is a member of the Academy of Managed Care Pharmacy and Michigan Pharmacists Association.
STEPHEN CICHY is founder and Managing Director of Monarch Specialty Group, a Chicago-based growth partnership firm and investment company focused on cultivating opportunities in specialty biologics. Mr. Cichy currently serves as a director of Compliance Meds Technologies, a privately held health service technology company, and he is also co-founder and executive officer of MedWorth Acquisition Corp, a publicly traded health care mergers and acquisition company. Mr. Cichy’s experience includes more than 20 years in the areas of specialty pharmacy, retail and mail pharmacy, home infusion, PBM and managed care. From March 2009 to May 2012, Mr. Cichy served as Executive Vice President of BioScrip, Inc., a publicly traded national specialty and infusion pharmacy and prescription service provider. In May 2012, select assets of BioScrip’s operating businesses relating to specialty, community and mail pharmacy were acquired by Walgreen Co. From August 2007 to March 2009, he served as Vice President of Product Development and Marketing Strategy for Walgreens. Prior to joining Walgreens, from April 2005 to September 2007, Mr. Cichy served as Vice President of Business Development and Commercial Operations for Option Care, Inc., a publicly traded specialty and infusion pharmacy organization. Option Care was acquired by Walgreens in September 2007. Prior to joining Option Care, from March 2003 to April 2005, Mr. Cichy was Director of New Product Planning for Caremark, Inc., a pharmacy benefit management and specialty pharmacy company.
Moderator: Angela Maas, managing editor of AIS's Specialty Pharmacy News
Pharmacy, clinical services and medical directors; strategic planners; product development, contracting and marketing executives; and financial and operations executives at
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