NEW YORK — As technology continues to evolve, so do criminals that seek to tap it in order to defraud individuals and businesses. The FBI’s internet crime center has been monitoring the scale of this issue and estimates that in 2017 alone over 15,000 U.S. businesses were defrauded out of more than $675 million through
No one claims to hold “the solution” to soaring costs for prescription drugs and how Americans and payers — including government — can afford to pay for them. But strides toward unraveling the tangle of problems behind this issue won’t be made without determined attempts at substantive discussion between the public and private sectors, according
The United States is battling what the Centers for Disease Control and Prevention (CDC) has labeled an epidemic of prescription drug abuse. According to CDC data, drug overdose deaths more than doubled between 2002 and 2015 (the latest year for which information is available). In 2015, drug overdose deaths exceeded 50,000 — which is more
NEW YORK — The retail pharmacy market may soon face an unwelcome challenge from e-commerce giant Amazon.com Inc. According to a recent report by CNBC, the company has hired a number of people from the pharmacy industry and is conducting a search for a general manager to lead a team and create a strategy. The
The rapid growth of the specialty pharmacy sector, fueled by high-priced specialty drugs, remains one of the leading story lines in the pharmacy industry. Compared with the retail pharmacy arena, the field of players in the specialty Rx market has yet to shake out. But pharmaceutical supply chain and economics expert Adam Fein, CEO of
DEERFIELD, Ill. — In a country where health care is rife with wasted time and money, Walgreens is committed to making pharmacy more efficient. One measure of the practice’s current inefficiency, says Alex Gourlay, co-chief operating officer of Walgreens Boots Alliance Inc., is the large number of prescriptions that need additional authorization on the way
CVS Health’s scaled-back 2017 guidance, given in its third-quarter report this week, spotlights an intensifying competitive battle with rival Walgreens Boots Alliance. CVS reported that for fiscal 2017 it expects to lose over 40 million retail prescriptions due to marketplace changes, notably narrower retail pharmacy networks excluding CVS Pharmacy drug stores. The announcement sent CVS
NEW YORK — Going forward, chain drug stores can bank on the same underlying trends that have fueled the retail pharmacy business in recent years. But the industry as they’ve known it won’t look quite the same. Retailer consolidation, changes in drug purchasing and the influx of specialty drugs are reshaping the competitive arena, industry
Pharmaceutical supply chain and economics expert Adam Fein, CEO of the Drug Channels Institute, says specialty drugs continue to hoist pharmacy industry sales, according to his firm’s latest analysis. “We project that the pharmacy industry’s revenues will exceed $483 billion in 2020,” stated Fein, author of the 2016 Economic Report on Retail, Mail, and Specialty Pharmacies
