Fingolimod Hydrochloride

None Authored By: David Fields, CEO, NavitusIn a time when drug prices are skyrocketing, imagine slashing a company's pharmacy costs by 28% in a single year. Sound impossible? The Texas Association of Counties was able to achieve this by utilizing a pharmacy benefit manager (PBM) with a transparent, pass-through model that's focused on keeping overall drug prices low. As the Navitus Annual Drug Trend Report reveals, this approach is saving companies millions.In traditional models, a PBM will create and take margin (“spread”) between what it pays the pharmacy and what it bills the client when members receive a prescription medication under their benefit. This margin creation also occurs with the collection and distribution of rebates, discounts and fees, where the PBM collects more than it passes along to the payor and uses this spread to improve profits.When PBMs hide the amount of spread they collect, patients have to pay more for drugs, because potential savings are diverted into PBM profits. The Federal Trade Commission recently published an interim report on Prescription Drug Middlemen, highlighting the impact PBMs have on the accessibility and affordability of prescription drugs. We applaud the FTC for shining a spotlight on this issue.While working in pharmacy benefit management, I've witnessed firsthand the challenges plans face in managing rising prescription drug costs. Our report found a 6.8% increase in overall commercial drug spending trend for 2023, with specialty drug spend rising 5.7%, and non-specialty up 7.9%. These trends were due to increasing use of costly brand medications. In particular, the use of non-specialty medications for diabetes and new specialty medications for inflammatory conditions and oncology significantly drove costs. Cost trend is the year-over-year increase in costs and is driven by both more people utilizing a drug plus the unit cost increase of a drug.While overall trends are up, 29% of our commercial clients saw a decrease in their prescription drug costs between 2022 and 2023, even with increases in both drug cost and utilization. These savings underscore the impact of a transparent, pass-through model in PBM services. Navitus is one of the rare PBMs that publishes a Drug Trend Report using actual cost data.The report uncovered several key factors driving spending in 2023:GLP-1 Medications: These costly drugs, including Ozempic (semaglutide) and Mounjaro (tirzepatide) are primarily used for diabetes management. They were the most significant contributors to increased spending after an explosion in interest from patients. Navitus uses a diagnosis check program to promote on-label use, which reduced prescription orders without a proper diagnosis by 30% for participating employers.Targeted Immunomodulators (TIMs) biosimilars: The introduction of adalimumab biosimilars provided up-front cost savings for clients who previously had to pay for brand-name Humira. Total cost was reduced by 20% with savings from biosimilars and Humira rebates passed through to clients. As competition increases in biosimilars, we expect to see further cost reductions and improved transparency in this category.Attention-Deficit/Hyperactivity Disorder (ADHD): While a generic version of Vyvanse (lisdexamfetamine), a popular treatment for ADHD, was released in 2023, drug shortages reduced competition and limited the opportunity for cost savings. Product shortages and an increased utilization trend of 3% resulted in an overall cost trend of 4%.Specialty Medications: Generic launches in multiple sclerosis (MS) and high generic utilization in oncology offered significant cost-saving opportunities. Generic utilization within the MS category exceeded 60%, including generic options for Gilenya (fingolimod) and Aubagio (teriflunomide). As a result, there was a nearly 20% decrease in overall cost across the category.Today, traditional PBMs can use vertical integration and co-ownership to obscure profits while keeping drug prices high. In contrast, Navitus' transparent model directly passes through all rebates so plan sponsors and health plans can see the true cost of brand-name and generic drugs. Clients receive full access to their data – to the individual claim level – enabling them to understand the cost and value of their benefit and optimize it. Navitus customer Texas Association of Counties, found that after switching to Navitus in 2019, the organization has reduced pharmacy costs by $160 million in only five years.By utilizing strategies that drive to the lowest cost, companies that embrace transparency help reduce drug spend costs for plans and their members. There have been tremendous advances in care due to the release of new drugs. It’s our job to do everything we can to make these drugs affordable by not adding cost to the system, so that patients can access them. In the end, we believe that plan sponsors that embrace transparency today will be best positioned to reap the rewards of lower costs and healthier members tomorrow.

ANTWERP, Belgium--(BUSINESS WIRE)-- Agomab Therapeutics NV (‘Agomab’) today announced that it has appointed David Epstein as non-executive board member and Chairman of its Board of Directors. David is an industry veteran and most recently served as Seagen’s Chief Executive Officer and as a member of its Board of Directors. Under his leadership, Seagen significantly grew its portfolio of innovative cancer medicines and was acquired for more than $43 billion by Pfizer in December 2023. Prior to Seagen, he served as Novartis Pharmaceuticals’ Chief Executive Officer. David has more than 30 years of drug development, deal-making, commercialization and leadership experience on a global scale. Over the course of his career, he has led the development and commercialization of over 30 new molecular entities, including Glivec, Tasigna, Gilenya, Cosentyx, Entresto and Padcev. He was named by FierceBiotech as one of the “25 most influential people in biopharma”. “We are very happy to welcome David as Chairman of our Board of Directors. David serves as a role model in the industry and we look forward to working closely with him and leveraging his experience to help bring innovative treatments to patients with fibrotic diseases,” said Tim Knotnerus, Chief Executive Officer of Agomab. “I want to thank John Haurum for his dedication, leadership, and valuable insights as our previous Chair. John led Agomab’s Board during a transformational period for the company, with multiple successful financing rounds, the acquisition of Origo Biopharma and the progress from a preclinical to a clinical-stage company.” “I am very impressed by Agomab’s science and strategy and I look forward to working with Tim and his team in bringing Agomab to the next phase of development and growth,” said David Epstein, Chairman of Agomab’s Board of Directors. “Fibrotic diseases represent a serious unmet medical need and I truly believe Agomab’s approach could represent great strides for patients with Fibrostenosing Crohn’s Disease and Idiopathic Pulmonary Fibrosis, if approved.” About Agomab Agomab is focused on achieving disease modification by modulating fibrosis and regeneration in chronic indications such as Fibrostenosing Crohn’s Disease and Idiopathic Pulmonary Fibrosis. We do this by targeting biologically validated pathways - including Transforming Growth Factor β and Hepatocyte Growth Factor - and by applying specialized capabilities in organ-restricted small molecules and high affinity antibodies. With a differentiated clinical pipeline across several fibrotic disorders, end-to-end research and development capabilities, a proven BD track-record and a strong investor base, Agomab is building a leading biopharma company.