Walgreens has recently announced its plan to work directly with drugmakers in order to provide cell and gene therapies to patients in the United States. This move is part of a broader expansion of its specialty pharmacy services. The company is launching a new business unit dedicated to its specialty pharmacy segment, which will include its subsidiary, AllianceRx. This signifies a significant development in the realm of specialty pharmacies, which have become increasingly important in the healthcare system in the U.S.
Specialty pharmacies have emerged as crucial players in the U.S. healthcare system, particularly as chronic diseases become more prevalent. These pharmacies are equipped to handle medications that require meticulous care in terms of handling, storage, and distribution. They cater to patients with chronic, rare, or complex conditions like cancer, Crohn’s disease, and HIV. Specialty pharmacies also provide counseling and financial assistance to support patients who require costly treatments.
Walgreens is making new investments to enhance its specialty pharmacy services. One of the key initiatives is the launch of a licensed facility in Pittsburgh that will be dedicated to providing services for cell and gene therapies. This 18,000-square-foot center will assist drugmakers and healthcare providers in navigating the intricate supply chain for these treatments, as well as managing patient needs and other related issues. The decision to delve into cell and gene therapy services comes at a time when there has been a surge in approvals of such drugs in the U.S. and the European Union.
Cell and gene therapies are one-time, high-cost treatments that target a patient’s genetic source or cell to cure or significantly alter the course of a disease. Health experts anticipate that these therapies could potentially replace traditional lifelong treatments for managing chronic diseases. The FDA approved seven cell and gene therapies last year, including the first gene therapies for treating sickle cell disease. The market for these therapies is projected to expand further, with the FDA estimating that it will be reviewing and approving between 10 and 20 treatments each year by 2025.
Walgreens has positioned itself as the largest independent provider of specialty pharmacy services, generating approximately $24 billion in revenue from this segment. Notably, Walgreens Specialty Pharmacy business is not affiliated with a pharmacy benefit manager, providing the company with the flexibility to contract dynamically with any payer. This flexibility allows for direct partnerships with pharmaceutical manufacturers to facilitate the introduction of products to the market, including limited distribution drugs. In addition, Walgreens aims to collaborate closely with providers to ensure a seamless experience for patients starting treatment.
Through its newly launched business unit, Walgreens aims to provide patients of AllianceRx and its extensive network of community-based pharmacies with additional resources to enhance the care they receive from specialty pharmacists. This includes access to clinicians with specialized disease expertise, nutritionists, and nurses. Walgreens’ community-based specialty pharmacies are strategically located near medical office buildings and health systems, offering specialty drugs at a faster pace compared to the industry average. These pharmacies also provide services such as injection training and side-effect management.
Walgreens’ expansion and transformation of its specialty pharmacy services signify a significant step forward in meeting the evolving healthcare needs of patients with chronic, rare, or complex conditions. By embracing innovations like cell and gene therapies and enhancing patient care through a comprehensive approach, Walgreens is positioning itself as a leader in the specialty pharmacy landscape. The company’s commitment to providing high-quality, personalized care is evident through its extensive network of specialty pharmacists, patient-advocacy support team members, and dedicated specialty pharmacy teams. This strategic move by Walgreens paves the way for a new era of specialty pharmacy services that prioritize patient well-being and treatment effectiveness.
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