News Briefs: Pharma Execs Say Medicare Negotiation Will Dent Profits
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Nov 10, 2022
Elevance Health, Inc. said on Nov. 9 that it has struck a deal with CarepathRx, a portfolio company of the private equity firm Nautic Partners, to acquire the specialty pharmacy BioPlus. The acquisition “helps us deliver on our whole-health strategy that gives our consumers improved access and reliability to their prescriptions when they need it most,” said Pete Haytaian, executive vice president of Elevance Health and president of its Carelon health services business. Elevance plans to “expand BioPlus’ speed and service models across more complex disease treatment areas to provide timely access to medication, deliver leading support services for both providers and patients, and ensure individuals receive distinctive clinical expertise and service at all levels of care,” it said in a press release. Given that BioPlus currently operates Centers of Excellence addressing therapeutic areas like oncology and multiple sclerosis, Elevance aims to “build out additional COEs” for other therapeutic areas once the specialty pharmacy becomes part of Elevance’s PBM, IngenioRx. The acquisition is subject to customary closing conditions and is expected to close in the first half of 2023. Read more
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