WASHINGTON, April 14 /PRNewswire/ -- Some pharmaceutical companies have reduced their emphasis on pharmacy benefit managers (PBMs), unconvinced that they can truly drive commercial business under the Medicare Part D. However, this may change, as PBMs may become the foremost administrators of Medicare Prescription Drug Plans (PDPs) under Part D.
While many pharmaceutical companies are focused on their strategic planning they should not lose sight of the broader ramifications of the benefit. As companies implement their strategies, the selling environment will change significantly, and as a result, some sales and marketing tactics may need to be adjusted. Among the key stakeholders are PBMs and managed care organizations (MCOs) as well as pharmaceutical, biotech, generic and specialty pharmaceutical companies.
MCOs, PBMs, and other possible plan administrators must submit their proposed Medicare formularies and approved drugs by April 18, 2005. To meet that deadline, MCOs and PBMs are currently in constant contact with pharmaceutical companies to ask how they plan to contract for their products.
The result of this multiple-party, cross-negotiation will produce winners and losers among all constituencies. We will shortly know the outcome as the April deadline for plan administrators to submit their formularies to CMS passes.
Keynote speakers are: -- Mark McClellan, M.D., Ph.D. and Administrator for CMS whose talk is entitled “Key Success Factors for Implementation of Medicare Part D”. -- John Rother, Director of Policy & Strategy of AARP, is scheduled to keynote the second day of the meeting with a talk entitled “How America Can Afford to Grow Older: A Vision for the Future”.
Join your colleagues from around the industry at the conference “Medicare Part D: Ramifications for the Pharmaceutical Industry at the Corporate and Product Levels”, organized by Strategic Research Institute and Campbell Alliance scheduled to take place June 27-28, 2005 at the Westin Grand Hotel in Washington D.C. Attendees will take away a wealth of information about best strategies to best place their companies in winning positions. Attendees will also learn a lot earn how pharmaceutical companies may alter their approaches as PBMs gain the ability to drive Medicare business.
The two day intensive information and networking event features senior-level executives from major pharmaceutical and biotech companies, managed care organizations, pharmacy benefit managers, and other related healthcare organizations. The conference agenda will feature a variety of case study presentations, panel discussions and keynotes.
The conference and hotel are already oversold. Contact Mark Alexay at malexay@srinstitute.com or call 212.967.0095, ext. 251 or Glenn Pascual at gpascual@srinstitute.com or call 212.967.0095, ext. 245 to request the agenda and hotel room information.
Strategic Research Institute
CONTACT: Mark Alexay, ext. 251, or malexay@srinstitute.com, or GlennPascual, ext. 245, or gpascual@srinstitute.com, both of Strategic ResearchInstitute, +1-212-967-0095
Web site: http://www.srinstitute.com/