AMCP’s 27th Annual Meeting & Expo, April 7-10, 2015, San Diego
SOMERSET,N.J. / LONDON – April 1, 2015 – Alliance Life Sciences, a leading global life sciences consultancy and technology provider, offers the nation’s managed care pharmacists targeted insights into the global experience of biosimilar formulary management, as well as trend drivers and cost management strategies impacting the specialty drug spend. Sophie Murdoch, vice president, Alliance Life Sciences, presents “Biosimilars and Formularies: Lessons Learned from the European Experience” and “Tying it All Together: Managing the Financing of Specialty Drugs,” AMCP’s 27th Annual Meeting & Expo, April 7-10, 2015, San Diego.
“With the first biosimilars hitting the U.S. marketplace, healthcare payers are trying to better equip their Pharmacy and Therapeutics (P&T) committees with a framework for making sound formulary decisions,” says Murdoch. “As managed care pharmacists in the United States address this next generation of medications, they will benefit from the extensive experience of the European Medicines Agency which has approved over 20 biosimilars since 2006.”
Murdoch will share these lessons learned and introduce implementation strategies for various payer sites across the country. During the specialty drug session, she utilizes global case study examples to demonstrate unique contracting arrangements and the application of conditional and restricted reimbursement.
“Accountable Care Organizations and the advent of shared savings models prompt many decision-makers to re-think their approach to specialty drug management,” says Murdoch. “The climate of risks and rewards reflects the potential for the specialty drug spend to tame or accelerate overall medical expenditures.”
She emphasizes the importance of understanding the trend drivers and the strategies to manage both utilization and costs, adding, “Design and implementation of appropriate incentives and risk structures should be based upon a comprehensive view of costs, outcomes and standard metrics across all stakeholders.”