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GLG News by Generic Drug Economic Experts

John Ansell, Director

John AnsellDirectorJohn Ansell Consultancy 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.

Pfizer focuses down - but at the same time takes on more risk

October 8, 2008

Pfizer shifts focus to cancer and biotech drugs | ap.google.com

As the biggest pharmaceutical company, Pfizer's R & D needs to be more productive than any other company's if it is to survive and prosper. But Pfizer must have new products that are big if they are to make an impact on its bottom line. The conundrum is that disease is a diffuse market, with few very big pharmaceutical products to treat it, and far more smaller ones. Thus in 2007 there were only 52 products whose global sales exceeded $2 billion. A product with $2 billion turnover product would contribute 4% to Pfizer's total turnover - just about big enough to make a significant impact on its performance. But those 52 products are for all therapeutic areas. Therefore Pfizer in focusing down is aiming at a rather limited-size target. And rights to the majority of products becoming blockbusters will not be on offer to Pfizer as they will be retained by its competitors.

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 Invests in China

October 6, 2008

Pharmaceutical distribution at the heart of Cardinal Health's China strategy | www.interfax.com

Cardinal Health (CAH) is rapidly growing its Chinese drug distribution business, while expanding manufacturing in India (but not China). This strategy is especially interesting given Cardinal’s planned separation of its supply chain division from clinical & medical products. The era of global wholesalers is coming, with or without a U.S. importation law.

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.

Wal-Mart + Caterpillar: The Future of PBM & Pharmacy?

October 2, 2008

Caterpillar in prescription drug trial with Wal-Mart | in.reuters.com

Wal-Mart Stores (WMT) announced an innovative new program with Caterpillar (CAT) that provides $0 co-pays on 2,500 generic drugs for 70,000 beneficiaries (employees, retirees, spouses, dependents). As I see it, the deal does not represent a direct frontal assault on PBMs such as Express Scripts (ESRX) or Medco Health Solutions (MHS). Instead, Wal-Mart is subtly undermining the PBM’s economic model, which is overly dependent on margins from generic drugs by mail. Wal-Mart’s program highlights these “excess” margins by offering an alternative channel choice. I’m also intrigued by the competitive comparison with CVS Caremark (CVS). Many of CVS Caremark's new benefit options try to create channel neutral choices (my terminology) within a restricted retail network. For example, Maintenance Choice is their drug benefit option that lets patients choose a 90-day supply from mail order or a local CVS retail outlet at the same cost or co-pay.

Joseph Bertino, Independent Consultant

Joseph BertinoIndependent ConsultantBertino Consulting 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.

Gene Targeted Drug Therapy for Heart Failure

September 23, 2008

Gene Targeted Drug Therapy for Heart Failure | www.bio-medicine.org

-Another step towards invididualized medicine -Proves that old drugs can be reinvented for useful purposes -Advances pharmacogenetics forward

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.

Wholesaler Impact of a Longs Drug Deal

September 16, 2008

Walgreen Jumps In With Rival Bid for Longs Drug | online.wsj.com

Walgreens (NYSE:WAG) and CVS Caremark (NYSE:CVS) are now in a bidding war for Longs Drug Stores (NYSE:LDG). No matter which company wins, the long-term outcome will probably be negative for AmerisourceBergen (NYSE:ABC), which is Longs’ primary wholesale supplier.  The sale of Longs Drug Stores will be one more step in the ongoing consolidation of the pharmacy supply chain.

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.

Drug Importation and Global Wholesalers

September 12, 2008

Biotech industry not seeing much difference between McCain, Obama | thehill.com

Both Barack Obama and John McCain have made negative statements about the pharmaceutical industry. Both also favor drug importation into the U.S. from countries with price controls. The emergence of global wholesalers makes it more likely for an importation law to pass, despite the dangers to supply chain security.

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.

Generic Drug Profits: Too High or Appropriate Incentive?

September 11, 2008

Medicare overpaid on drugs with new generics, report says | www.latimes.com

A new OIG report highlights supposed “excess” payments by Medicare’s cost-plus drug reimbursement model, giving us a peek at the time path of generic margins in the Part B program. However, OIG overstates their case by ignoring the powerful incentives for rapid generic substitution that are created by higher profits early in the generic life cycle. Pay attention to this report because it illustrates the generic drug profit dynamics that exist elsewhere in healthcare – retail pharmacies, providers, wholesalers, and PBM mail order. And as generic utilization rates will move toward 75 percent over the next few years, I expect that pharmacy channel margins on generic drugs will be increasingly seen as a mechanism by which payors can manage their drug trend.

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.

Progress on Federal Pedigree Will be Slow

September 5, 2008

Drug Stores Don’t See Progress for Electronic Drug-Pedigree Bill | fdanews.com

Representatives Steve Buyer (R-IN), Gene Green (D-TX), Jim Matheson (D-UT), and Mike Rogers (R-MI) co-sponsored H.R. 5839 Safeguarding America’s Pharmaceuticals Act of 2008. H.R. 5839 was going to be incorporated into other related FDA legislation, but intense behind-the scenes lobbying by the pharmacy industry against the bill has now stopped that option. However, I believe that it would be best for the FDA to implement national serialized e-pedigree in sync with a new California timeline. Although the FDA has not decided on its next step, I presume that nothing will happen until after the Presidential election and a possible new FDA commissioner.

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.

CA E-Pedigree Delayed to 2015

September 4, 2008

Bill to track medicines is praised | www.signonsandiego.com

Implementation of California’s e-pedigree law has (probably) been pushed back to 2015. The widespread industry support for the bill makes me believe that the 2015 date might actually stick. The more realistic timeline should encourage pharmaceutical manufacturers to get serious about mass serialization for their products – a necessary first step for California’s vision of serialized e-pedigree. I expect that “mass serialization” will become increasingly important for supply chain security efforts at multinational drug makers, especially given the new serialization requirements in countries such as Belgium, Italy, and Turkey. The new California legislation also clears the way for a Federal approach to serialized e-pedigree by setting strong federal pre-emption language.

William FinkPresidentManaged Care Pharmacy Consultants, 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 Methadone Usage

August 28, 2008

Dr. Mark Yergin testifies to Congress | www.nytimes.com

Doctors must be educated on the correct use of Methadone if unnecessary deaths are to be avoided.

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