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GLG News by Generic Drug Economic Experts

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Cardinal Health Rebuilds Reputation with DEA Compliance Efforts

December 8, 2008

Cardinal Health Builds Out its 'Suspicious Order Monitoring Program' | pharmaceuticalcommerce.com

Now that Cardinal Health (CAH) has finally resolved its long-standing DEA issues, the company has quietly launched a series of intriguing Medication Safety web pages. I’m impressed by these initial public efforts at education and greater transparency, although it’s obviously a work-in-progress. Cardinal needs to more clearly describe how a more secure supply chain will translate into sales growth among its now highly monitored pharmacy customers. I’d also like to see the initiative evolve into anti-counterfeit education aimed at changing behavior by pharmacy buyers and consumers.

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Pharmacy Groups Oppose First Databank AWP Settlement

December 3, 2008

NACDS, FMI Urge Court to Oppose Proposed AWP Settlements that Would Penalize Retail Pharmacy and the Patients They Serve | nacds.org

NACDS and FMI filed another brief in opposition to the controversial proposed First Databank settlement, although they overstate their arguments in a few places. I expect this battle to heat up over the next month as we get closer to the late December hearing about First Databank’s settlement. This hearing represents another blow to the use of Average Wholesale Price (AWP) as a reimbursement benchmark for pharmaceuticals.

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

McKesson settlement is next step in the demise of AWP

December 2, 2008

McKesson Agrees To Settlement In Pricing Suits | online.wsj.com

McKesson Corp (MCK) settled its pending class action suit for $351 million and set aside a further $143 million reserve for certain future claims. The settlement removes a source of uncertainty for McKesson, but also signals the beginning of the end for the Average Wholesale Price (AWP) benchmark. Average Wholesale Price (AWP) data for pharmaceuticals is still being published, but will continue to lose appeal as a reimbursement benchmark for pharmacies and Pharmacy benefit managers (PBMs).

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

CVS Escalates the Generic Price War

November 13, 2008

CVS joins generic drug price war | www.upi.com

CVS Caremark (CVS) launched its new Health Savings Pass, which allows customers to buy 90 day supplies of over 400 generics for $9.99 (after paying an enrollment fee of $10). The new program sounds like a logical pre-emptive strike against anticipated share losses. Translation: an old-fashioned, race-to-the-bottom price war! A barrier has been breached with CVS’ entry into the discount retail generics game. It seems inevitable that this war will suck a lot of margin from the pharmacy and PBM industry over the next few years. I’m also puzzled by the fit between the new generic program and the legacy Caremark mail order business.

David Zimmerman, President/Owner

David ZimmermanPresident/OwnerDoctors of Pharmacy, Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Tamper Proof Narcotic Pain pill? YES

November 13, 2008

FDA Asks if Pain Pill Is Tamper-Proof | online.wsj.com

This drug will allow patients in severe pain to get the necessary pain relief and not have to worry about the other patients that abuse the drug.

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

New Details on WMT-CAT Pharmacy Deal

November 6, 2008

Caterpillar/Wal-Mart Rx Drug Pilot Scraps Use of Average Wholesale Price, Uses Drug Cost-Plus Pricing | www.aishealth.com

A just-published article in Drug Benefit News provides new details about the Wal-Mart’s (WMT) $0 generic co-pay program with Caterpillar (CAT). Anyone involved in the pharmacy channel – pharmacies, pharmacy benefit managers (PBMs), insurers, payers, drug wholesalers – should be paying attention to the Wal-Mart/Caterpillar arrangement. Pharmacy channel margins on generic drugs will be increasingly seen as a mechanism to control total drug spending. As a result, I expect even more adoption of cost-plus reimbursement models as Wal-Mart continues to challenge the pharmacy industry's traditional economic model.

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Walgreens buys McKesson Specialty Pharmacy: A Win-Win Deal

November 4, 2008

Walgreen Co. to Acquire Specialty Pharmacy Business from McKesson Corporation | news.walgreens.com

Walgreens (WAG) announced the acquisition of McKesson’s (MCK) specialty pharmacy business in a win-win transaction for both companies. The deal makes sense for both parties as long you understand that specialty distributors sell products to physicians, providers and pharmacies, while specialty pharmacies dispense products to individual patients. It also makes a lot more sense for Walgreens than its now-abandoned plan to buy Longs Drug Stores (LDG).

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Prescriptions and the Economy: Perhaps Not So Bad

November 4, 2008

In Sour Economy, Some Scale Back on Medications | www.nytimes.com

The New York Times ran a story on the impact of the economy on prescriptions. The article provided many compelling personal stories to illustrate data from IMS Health showing a decline in the total number of prescriptions dispensed in the United States. However, I have some concerns about the ability of IMS Health to measure a changing retail marketplace with incomplete data, so perhaps the news is not quite as bad as reported. I’m sure the folks at IMS Health try hard to fill in the gaps, but there’s simply no way for them to do anything but guesstimate when they lack actual data for a significant and fast-changing part of the pharmacy market.

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Dangers of Rogue Online Pharmacies

October 14, 2008

Online Overdose | columbusdispatch.com

The Columbus Dispatch published a six-part expose/overview about the diversion and sale of controlled substances. Mike Pramik, the reporter who wrote all six parts, has pulled together a must-read series. Since the Dispatch is also Cardinal Health’s (CAH) hometown paper, there are some good insights into the ways that Cardinal has dealt with the challenges of selling to potential rogue Internet pharmacies.

Adam Fein, Founder & President

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Cardinal Health Finally Resolves DEA Issue

October 9, 2008

Cardinal Health Resolves Controlled Substance License Suspensions | ir.cardinalhealth.com

Last week, Cardinal Health (CAH) announced agreements with the Drug Enforcement Adminstration (DEA) regarding its license suspensions for controlled substances. These suspensions had a negative impact on the company's sales and market position. The company even publicly apologized for its actions during the suspensions. (See Cardinal Health Apologizes to Customers - Council Site). With the formal agreement, it can now get back to business and focus on the core problems with its pharmaceutical distribution business.

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