Former PhRMA President Billy Tauzin Joins Leading 340B Drug Administrator
SAN ANTONIO, Aug. 17, 2011 /PRNewswire-USNewswire/ -- Former Congressman and PhRMA CEO Billy Tauzin has joined the board of the pharmaceutical benefits management company CaptureRx. He will also serve as the company's Chief Industry Relations Officer.
Tauzin will work on behalf of CaptureRx, its hospital and health-center clients, and the national pharmacy networks that partner with the company. He will add his voice to initiatives that include identifying best practices and standardization of processes and reporting, and building relationships with managed care and federal and state agencies.
"Both clients of CaptureRx, a valued corporate member of our association, and the entire 340B community will be lifted by having someone of Mr. Tauzin's stature in our corner," said William von Oehsen, president of the Safety-net Hospitals for Pharmaceutical Access, the 340B trade association that represents more than 600 university and nonprofit hospital systems.
In 2004, Tauzin was diagnosed with a rare form of intestinal cancer. "I was given less than a 1 percent chance of survival, but thanks to innovative drug therapies, I overcame the odds," he said. "I see my new role with CaptureRx as an opportunity to increase the access that underinsured folks have to these life-saving pharmaceuticals,"said Tauzin, who served as Chief Executive Officer of the Pharmaceutical Research and Manufacturers for 5-1/2 years after leaving Congress.
Based in San Antonio, Texas, CaptureRx is a leader in administering a federal drug program called 340B, which lowers the cost of health care at zero cost to the government. Under the program, qualified hospitals and health centers purchase drugs for the program's patients at half the cost -- even less than Canadian drug prices.
This creates a safety net for much of the nation's under-insured and uninsured in an environment of looming federal deficits. The pharmaceutical industry provides the nearly $7 billion in annual funding for 340B via special pricing under federal regulation.
As CEO of PhRMA, Tauzin helped create the Partnership for Prescription Assistance (PPA), which provides free medicines to more than 6 million Americans who otherwise couldn't afford them. He will continue that push at CaptureRx by maintaining an open dialogue with drug manufacturers on compliance with the 340B program and the need to protect it.
CaptureRx manages one of the largest 340B programs in the country and operates the nation's largest 340B contracted pharmacy network. The company is a pioneer and technology leader in 340B processing and automation through its "cloud" based platform called Cumulus. To learn more, visit www.CaptureRx.com.