FLINT, Mich. — UnitedHealth Group pharmacy benefit manager OptumRx on Monday announced plans to purchase specialty drug provider Diplomat Pharmacy Inc. for about $300 million. The news comes amid continued financial struggles for Diplomat. In the third quarter, the company reported a $177 million net loss. In a statement, Diplomat chairman and chief executive officer
FLINT, Mich. — Diplomat Pharmacy is considering a sale or merger after seeing revenue declines in its PBM and specialty segments in the second quarter ended June 30. The company’s board ordered the exploration of “strategic alternatives” after Diplomat’s quarterly revenue dropped 9% from the year-ago period to $1.29 billion. Besides a sale or merger,
FLINT, Mich. — Diplomat Pharmacy announced an exclusive agreement between Diplomat and Allergy Partners, P.A., to manage in-office and in-home delivery and administration of infusion drugs and biologics. The agreement will cover treatments for primary immunodeficiency, alpha-1 antitrypsin deficiency, hereditary angioedema, and more. Allergy Partners is the nation’s largest independent, single-specialty practice for allergic disease,
FLINT, Mich. — Diplomat Pharmacy announced financial results for the quarter ended June 30, 2019. Revenue decreased 9% from $1.4 billion to $1.2 billion and gross profit decreased from $98.4 million to $72.7 million from the prior-year quarter. Adjusted EBITDA was $19.3 million compared to $42.7 million in the prior-year period, and earnings per share were
FLINT, Mich. — Diplomat Pharmacy announced Friday that it is postponing the release of its fourth-quarter and full-year 2018 financial results and the related conference call and webcast to March 15. The company expects to file its annual report on Form 10-K for the fiscal year ended December 31, 2018 soon afterwards. The postponement is
FLINT, Mich. — Diplomat Pharmacy is updating its 2018 financial guidance and providing a preliminary 2019 outlook in connection with its presentation today at the JP Morgan Healthcare Conference in San Francisco. Diplomat now expects 2018 revenue to be at the lower end of the previously communicated $5.5 to $5.7 billion range and adjusted EBITDA to be at
FLINT, Mich. — Diplomat Pharmacy is now shipping temperature-sensitive medication in ClimaCell coolers from TemperPack. ClimaCell coolers are fully recyclable at curbside and insulated with renewable materials that can be recycled wherever plastic bags are accepted. Diplomat previously used expanded polystyrene (EPS) foam coolers. Diplomat’s efforts will help divert more than five tons of plastic
FLINT, Mich. — Diplomat Pharmacy has opened a 75,000-square-foot facility in Chandler, Ariz., to bolster pharmacy operations and ensure business continuity. Diplomat expects the location to create 200 local jobs over the next year. Chief executive officer and chairman Brian Griffin said the Chandler facility — 485 N. Juniper Drive — increases Diplomat’s capacity to serve more
FLINT, Mich. — Diplomat Pharmacy announced financial results for the quarter ended June 30, 2018. All comparisons, unless otherwise noted, are to the quarter ended June 30, 2017. Prior period financials have been recast to include certain direct expenses as part of cost of sales instead of selling, general and administrative expense (“SG&A”) for our specialty
FLINT, Mich. — The board of directors of Diplomat Pharmacy has appointed Brian Griffin board chairman and chief executive officer, effective June 4, the company announced last month. Griffin recently resigned as the executive vice president and CEO of IngenioRx, the pharmacy benefit manager of Anthem Inc. “We are pleased to welcome Brian to the
FLINT, Mich.— Diplomat Pharmacy Inc. announced that its board of directors has appointed Brian Griffin, executive vice president and chief executive officer of IngenioRx, the pharmacy benefit manager (PBM) of Anthem, as chief executive officer and chairman of the board of directors, effective June 4. Ben Wolin, chairman of the board, said, “We are pleased to
WOONSOCKET, R.I. — CVS Health has signed a five-year agreement to provide services to support IngenioRx, a new pharmacy benefit manager formed by Blue Cross Blue Shield health insurer Anthem Inc. CVS said Wednesday that its CVS Caremark PBM division will manage certain services for IngenioRx, including claims processing and prescription fulfillment. In addition, CVS
