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 the company’s board of directors has appointed Dan Davison as chief financial officer and treasurer effective April 8, succeeding Atul Kavthekar. Davison will report to Brian Grin, Diplomat’s chairman and chief executive officer and will lead the company’s finance function, which is expected to be streamlined under
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 and CSI Specialty Group, a globally recognized specialty pharmacy consulting firm, have launched a program for hospitals and health systems interested in starting or expanding their own specialty pharmacy services to benefit from Diplomat’s limited-distribution drug portfolio and expertise treating rare, chronic, and complex diseases. CSI, a partner of leading national healthcare
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 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.— 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
FLINT, Mich.— Diplomat Pharmacy announced financial results for the quarter ended March 31, 2018. All comparisons, unless otherwise noted, are to the quarter ended March 31, 2017. First Quarter 2018 Highlights include: • Revenue of $1,342 million, compared to $1,079 million, an increase of 24% • Specialty segment revenue of $1,153 million, compared to $1,079
FLINT, Mich. — Diplomat Pharmacy has unveiled CastiaRx to respond to industry demand for a leader in specialty benefit management. CastiaRx unites the full-service pharmacy benefit manager (PBM) capabilities of recently acquired LDI Integrated Pharmacy Services and National Pharmaceutical Services with Diplomat’s specialty pharmacy and infusion expertise. According to the IQVIA Institute for Human Data
FLINT, Mich. — Biosimilars, generic drugs and affordable branded drugs are top-of-mind at Diplomat Pharmacy Inc. this year as the specialty pharmacy looks to help health plans and patients rein in costs. According to Diplomat president Joel Saban, the surging market for expensive specialty drugs has put pressure on stakeholders across the health care sector.
FLINT, Mich. — Phil Hagerman, co-founder, chairman and chief executive officer of Diplomat Pharmacy Inc., the nation’s largest independent specialty pharmacy, plans to retire. Diplomat said Friday that board member Jeff Park has been named interim CEO, and independent lead director Ben Wolin has been appointed chairman. Both moves are effective immediately. Diplomat’s board has launched
