Three Largest Pharmacy-Benefit Managers in the US cease Work with Philidor
United State’s three largest pharmacy benefit providers said on Thursday that they are breaking their ties with a pharmacy affiliated with Valeant Pharmaceuticals after a review of the pharmacy’s business practices.
CVS Health Corp. on Thursday said that it is terminating mail-order pharmacy Philidor Rx Services LLC from the network of its Caremark pharmacy-benefit unit. The announcement was made after audits revealed that the pharmacy working as per the terms of its agreement.
A similar statement was also released by Express Scripts Holding Co., saying that it was ceasing work with Philidor. It also announced that it will be evaluating four additional pharmacies with which Valeant has a similar relationship.
Philidor was also dropped by UnitedHealth Group Inc.’s OptumRx from its network.
Valeant in an emailed statement said, “Valeant’s drugs are provided to patients through many channels. We look forward to continuing to work with our full range of partners to ensure patients have access to the important medicines they need”.
Valeant in the beginning of this week said that if it cut ties with Philidor, its growth might slow down. Philidor earlier said that its relationship with Valeant has benefitted several patients as it ensures that patients receive the medication on time.
Valeant, the Canadian drug maker, has been facing sharp criticism from politicians, doctors and insurers. The drug maker has been criticized for its approach to drug pricing, which involved buying old medications and increasing the prices.
The Wall Street Journal reported this week that Philidor asked its staff to use ‘back door’ tactics to ensure payment. It also asked them to use the identification number of a different pharmacy if an insurer wouldn’t work with Philidor.
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