SDI Reports: Takeda Touts New Drugs to Managed Care
Company makes most visits to pharmacy executives and medical directors;
AstraZeneca, Johnson & Johnson, Merck, Abbott round out top 5
PLYMOUTH MEETING, Pa.--(Business Wire)--
According to SDI, a leading healthcare market insight and analytics firm, in
spring 2009, Takeda made more visits to managed care professionals than any
other pharmaceutical manufacturer, accounting for almost 7% of contacts recorded
in SDI`s Managed Care Pharmacy Executive and Managed Care Medical Director
audits. Takeda was followed by AstraZeneca, Johnson & Johnson, Merck, and
Abbott, each representing about 5% of reported visits.
Takeda`s focus during the majority of these visits was on its two new drugs,
Kapidex and Uloric. More than three-fourths of Takeda`s product discussions with
managed care professionals involved one of these two brands.
"Typically, companies with newer drugs spend the majority of their time with
managed care plans promoting these products," says Nick Carras, an SDI Senior
Product Manager. "Managed care plans often evaluate a product a few months after
its introduction and decide whether to include it on their formulary, and at
what formulary tier."
A formulary is a list of medications that an insurer will pay for. Formularies
are often designed in tiers. The lowest tier usually consists of generics and
carries the lowest co-pay for patients. As tiers rise, so do out-of-pocket costs
paid by patients.
SDI`s Managed Care Formulary Drug Audit reports that more than 70% of surveyed
health maintenance organizations and pharmacy benefit managers, representing
almost 230 million covered lives, review new drugs for inclusion on their
formularies 3 to 6 months after the drugs first appear on the market. Four
percent of plans review a new product sooner; 15% take 7 to 12 months.
"Pharmaceutical companies increase their interaction with managed care insurers
during the first few months after a drug is launched, hoping to positively
influence formulary coverage and tier-placement decisions so that patient
out-of-pocket cost is minimized," says Carras. "If out-of-pocket costs are high,
that can be a real barrier for patients - and in turn for the success of a
brand."
Carras notes that pharmaceutical companies may offer co-payment assistance
programs to help offset costs as managed care plans evaluate their drug.
Through a combination of manufacturer-assistance programs and gradual formulary
adoption, patient out-of-pocket costs tend to decline over time. For example, in
Kapidex`s first month on the market, the average out-of-pocket cost for a
prescription was $61.06, according to SDI`s Vector One: Payer. Five months
later, the average out-of-pocket cost dropped to $34.43.
About SDI
SDI is a leading healthcare market insight and analytics firm. It provides the
industry`s most comprehensive de-identified patient-level data to
pharmaceutical, biotech, and medical device companies, enabling them to better
understand the healthcare market. SDI also serves the government and the
financial services, media, and consumer packaged goods industries. Founded in
1982, SDI counts the world`s top 50 pharmaceutical and biotech firms as its
clients.