pharmacies – USA NEWS LIVE

Health | Pharmacies are tearing cold medicines off their shelves. What options are there now?

chandankumarsoft — Tue, 19 Nov 2024 06:22:46 +0000

Feeling stuffy and prepared to succeed in for NyQuil, Benadryl, or Sudafed PE?

Not so fast.

The Food and Drug Administration (FDA) has proposed phasing out the usage of oral phenylephrine, a standard ingredient in lots of cold and allergy medications — and a few pharmacies are already moving to tug the favored products from shelves.

Florida researchers have been studying the effectiveness of oral phenylephrine for 20 years. Back in 2005, researchers on the University of Florida College of Pharmacy suspected that this ingredient didn’t relieve nasal congestion, despite the fact that it is often used for this purpose. The researchers evaluated several studies on oral phenylephrine and combined them in a meta-analysis. They concluded that drugs containing this ingredient don’t work higher than placebo pills in patients with colds and allergic congestion.

“For 20 years we've been telling anyone who will listen that oral phenylephrine doesn't work,” he said Randy HattonProfessor on the University of Florida College of Pharmacy. “We taught pharmacy students that it doesn’t work. We hear from pharmacists who know it doesn't work. And we actually did something about it.”

Hatton and UF Professor, Dr. Leslie Hendelesbrought their findings to the FDA greater than once. Finally, the federal authority convened a committee in September 2023 and issued a proposed regulation.

“They looked at all the evidence we examined and made an in-depth assessment of what we had been investigating for years,” Hatton said.

The FDA is allowing the general public to comment for the subsequent six months before deciding whether to remove oral phenylephrine medications from the shelves. But some retail pharmacies aren't waiting. CVS stopped selling products containing phenylephrine last 12 months. Other major pharmacies, including Walgreens and Rite Aid, still carry products containing the drug but say they’re monitoring the FDA's actions.

So what options are there for Floridians who are suffering from congestion and don't have the medications of their alternative?

Hatton said phenylephrine nasal sprays are an option.

“In spray form, phenylephrine causes constriction of the nose and opens the nasal passages,” he said. “But only use the sprays for three to five days. People who continue to take them get rebound congestion.”

Doctors and pharmacists also recommend other options:

Intranasal steroids reminiscent of Flonase and Nasonex or over-the-counter oxymetazoline nasal sprays reminiscent of Afrin and Zicam
Saline irrigation devices, reminiscent of a neti pot, to assist flush out the sinuses (but only use distilled water, not tap water)
Saline nasal sprays reminiscent of Sinex or Simply Saline, which also use a saltwater solution to flush the sinuses
Products containing pseudoephedrine, the ingredient in Sudafed, will be found behind the pharmacy counter
Oral antihistamines reminiscent of Zyrtec, Allegra, and Claritin, which clear nasal congestion related to allergies

“If you have any questions, ask the pharmacists. They are trained in over-the-counter medicines. Just ask: Does this work in traffic jams?” Hatton advises.

Those on the lookout for drug-free options can try:

Spicy foods that may cause a burning sensation because of a chemical called capsaicin and cause a runny nose that drains mucus from the sinuses
Steam from a hot shower or a warm compress on the nose
humidifier

Originally published: November 18, 2024 at 12:35 PM PST

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Health | Independent pharmacies say they’re being pressured by shady middlemen linked to major health chains

chandankumarsoft — Mon, 02 Sep 2024 00:13:19 +0000

Over greater than a decade, independent pharmacist Jay Patel has built close and lasting relationships along with his customers who come to him for help with illness and health issues.

But now there are intruders: drug middlemen, firms referred to as “pharmaceutical benefit managers” (PBMs) that influence what drugs may be purchased where and at what price.

Patel and other independent pharmacists say their business is threatened by the growing influence of those firms, that are tied to large health care conglomerates. In an opaque and complicated system, they are saying, patients are being steered to affiliated pharmacies reminiscent of CVS and mail-order pharmacies. Pharmacists face high fees and low reimbursement rates, and subsequently cannot cover their costs.

This could mean destroy for Patel and other pharmacies in the world.

“I want to do what is important for the community. But how long can I keep this up?” said Patel, 48, owner Savco Pharmacy within the West San Carlos district of San Jose. “We are at their mercy.”

PBMs counter that their conclusions are based on incomplete evidence. According to the industry group Pharmaceutical Care Management Association, they protect consumers from high drug prices by negotiating price reductions, referred to as rebates, with drug firms.

The disappearance of independent pharmacies could limit consumer selection and access to health care – especially in low-income or rural communities.

On Telegraph Avenue in Oakland, Selam Pharmacy owner Michael Gebru called PBMs a “big black box,” saying, “They charge me whatever they want and they can charge it back. It's pretty scary. It's like the Wild West.”

In the coastal village of Point Reyes Station, the small West Marin Pharmacy recently lost its contract with the PBM company Express Scripts, which is utilized by the insurance company Cigna, amongst others. Now residents who’re insured by Cigna will need to have their prescriptions sent by mail or drive 20 miles to search out one other pharmacy.

“When one of us, our children or our families is sick with fever, vomiting, diarrhea or worse, we may have to drive an hour or more to San Rafael, Novato or Petaluma just to fill a prescription,” said concerned pharmacy customer Christine Cordaro of Inverness Park.

PBMs were created within the Nineteen Sixties as a approach to process prescription drug claims. They are answerable for paying pharmacies on behalf of insurance firms, employers and the federal government. The three largest firms are operated by CVS Health, Cigna and UnitedHealth Group, which manage prescriptions for greater than 200 million Americans.

In 2012, when San Jose pharmacist Patel bought his modest store, PBMs filled lower than 50 percent of prescriptions.

A series of mergers in 2018 created the present system through which healthcare groups are vertically integrated and own the insurer, the PBM and the pharmacy. Giant health insurer Aetna merged with drug distributor CVS. Another major insurer, Cigna, bought Express Scripts. UnitedHealth built its own PBM. All three firms operate mail-order pharmacies.

“It’s like they’re taking money out of one pocket and putting it in the other,” said Zsuzsanna Biran, pharmacist and owner of West Marin Pharmacy.

Despite consumer opposition, the FTC approved the mergers. But now there are concerns concerning the economic importance of the PBMs. The smaller, locally run pharmacies feel they’re being pushed out of the market.

CVS describes the situation of independent pharmacies as “exaggerated.”

“Contrary to the rhetoric of the independent pharmacy lobby, independent pharmacies are not in a crisis,” CVS announced this in a press release.

“What the independent pharmacy lobby has long coveted is a world without price controls or the competitive pressures of PBMs negotiating on behalf of paying customers and consumers,” CVS said.

According to Express Scripts“If we didn’t provide significant value to our thousands of partners, we wouldn’t exist.”

The PBMs work by negotiating discounts on the “list price” of medicine. Some of those savings are passed on to insurers and employers. But some remain with the PBMs. This is enormously profitable.

There is evidence of anti-competitive behaviour that illegally distorts the market, harms consumers and threatens the survival of independent pharmacies, in accordance with recent reports from the US Trade Commission and a House Committee on Oversight and Accountability Investigation.

According to reports released last month, PBMs are pushing patients toward dearer drugs by creating “formularies” of preferred drugs that discourage them from using cheaper alternatives. Because these high-priced drugs have the next discount, the profit is higher.

Sometimes in addition they restrict patients' access to mail-order businesses they own, thereby limiting the role of the local pharmacy.

Independent pharmacies complain they’re being charged unnecessary additional fees. When he opened his business in 2012, Patel paid $15,000 to $20,000 in PBM fees; this 12 months, his fees could exceed $110,000.

High fees and low reimbursements can deter a pharmacist from filling a prescription. If he loses money on a prescription, “I have two options,” Patel said. “I can take the loss or tell the patient I can't fill it.”

“On the one hand, reimbursements for prescription drugs are falling, on the other hand, there are higher fees. Many pharmacists are thinking about throwing in the towel,” says the National Association of Pharmacists, which represents greater than 19,400 independent U.S. pharmacies.

Almost a 3rd of independent pharmacy owners could close their businesses this 12 months, it was said.

But in Sacramento and other state capitals, lawmakers are taking a more in-depth look.

State Senator Scott Wiener has drafted a bill Senate Bill 966that might impose recent rules on PBMs and higher regulate the businesses. It would require PBMs to be licensed by the California State Board of Pharmacy and to pass drug rebates on to consumers.

And there are rewards which can be priceless, reminiscent of gifts of fruit, chocolate and homemade cookies from grateful customers.

“He's the best,” said customer Rob Souza as he picked up a prescription for his sick wife. “He's like a small-town pharmacist who always takes care of everything.”

Originally published: September 1, 2024 at 6:28 am

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Gilead Sciences accuses two New York pharmacies of dangerous drug counterfeiting

chandankumarsoft — Fri, 16 Aug 2024 15:10:10 +0000

Gilead Sciences The company said it had uncovered a dangerous drug counterfeiting operation during which HIV drugs were tampered with and resold improperly before they reached patients.

The mastermind of the scheme, allegedly run out of two New York pharmacies, was identified as Peter Khaim, a twice-convicted medical fraudster, in line with court documents unsealed this month. The company described Khaim as one of the vital brazen and largest manufacturers and sellers of counterfeit Gilead drugs within the country.

Gilead sued Khaim, in addition to Queens-based pharmacies 71st RX and Best Scripts, and others allegedly involved within the counterfeiting scheme. Gilead's lawsuit said Khaim controlled the 2 pharmacies.

“The defendants and their accomplices manufactured and sold these counterfeit Gilead-branded HIV drugs to pharmacies and patients in at least New York and New Jersey, endangering the health and safety of countless patients,” said the lawsuit, filed by attorney Geoffrey Potter of Patterson Belknap Webb & Tyler.

Gilead's lawsuit alleges that the counterfeiters used the corporate's original vials but tampered with the actual drug or its documentation.

“In some cases, the contents of the bottles were emptied, refilled with the false drug, and then resealed with a material other than Gilead's original tamper seal,” the lawsuit states. “The co-conspirators then sold the counterfeit bottles with fake patient information documents, fake closures, and/or fake pedigrees or invoices.”

Most of Gilead's HIV drugs seized on this case were Biktarvy and Descovy.

Victims include each “HIV patients who are exploited by the defendants and persuaded to stop taking their prescribed medications” and “patients who go to their neighborhood pharmacy and, without their knowledge, receive a sealed, authentic-looking bottle” that’s as a substitute a counterfeit, Gilead's lawsuit states.

Accompanied by officers from the New York Sheriff's Office, Gilead lawyers and personal investigators conducted seizures on the two pharmacies and Khaim's home in July, seizing greater than $750,000 value of suspected counterfeit drugs, the court filing said.

A lawyer for Khaim declined to comment.

The case is Gilead's second major civil lawsuit against Khaim related to counterfeit HIV drugs within the legal supply chain. Gilead sued Khaim and others in 2021 and obtained an injunction prohibiting him from selling Gilead-branded products. In that case, Khaim earned greater than $38 million selling counterfeit Gilead drugs to distributors and on to pharmacies, in line with Gilead.

Despite the injunction, Khaim continued to oversee a counterfeiting operation on the two Queens pharmacies, the newest criticism says.

In one other case, Khaim was sentenced to 96 months in prison for one medical fraud case and 15 years for one more insurance fraud case. While awaiting sentencing within the medical fraud case and while operating the pharmacies and selling the counterfeit drugs, he wore a court-ordered GPS ankle bracelet, records show.

“This lawsuit is further clear evidence of our ongoing commitment to putting patient safety first and protecting individuals from criminals attempting to sell counterfeit and illegal versions of Gilead's medicines,” Gilead said in a press release to CNBC. “In addition to this lawsuit, we continue to work closely with the FDA, OIG, FBI and prosecutors to dismantle counterfeit networks, deter fraudsters and thwart the illegal distribution of drugs.”

Last yr, a CNBC investigation delivered to light the shadowy world of drug counterfeiting and showed how Gilead is fighting against criminals altering its packaging and medicines.

According to Gilead and law enforcement, in lots of cases counterfeiters obtain drugs from patients who then resell them for money. The labels are typically removed with lighter fluid, the bottles resealed and distributed to other patients. In this latest case against Khaim, lighter fluid was present in the pharmacies throughout the seizures, court documents say.

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Walgreens lowers profit forecast and points to “difficult” environment for consumers and pharmacies

chandankumarsoft — Thu, 27 Jun 2024 11:44:28 +0000

Walgreens on Thursday reported Third-quarter earnings fell wanting expectations and the corporate reduced its full-year adjusted earnings outlook, citing a “difficult” environment for pharmacies and U.S. consumers.

The pharmacy giant now expects adjusted earnings of $2.80 to $2.95 per share for fiscal 2024. In comparison, the corporate's previous forecast was $3.20 to $3.35 per share.

“We expected consumers to get a little stronger in the second half of the year,” but “that's not the case,” Walgreens CEO Tim Wentworth told CNBC.

He added: “Consumers are completely baffled by the absolute prices of things, and the fact that some of them may not go up does not change their resistance to current prices. So we've had to be really vigilant, especially on non-essential things.”

Following the discharge of the outcomes, Walgreens shares fell greater than 8% in premarket trading on Thursday.

Still, Walgreens beat revenue estimates for the quarter because of strong performance in its healthcare division, which the corporate views as critical to its ongoing transformation from a significant drugstore chain to a significant healthcare company.

The results come as Walgreens works to scale back costs after a turbulent last 12 months marked by low pharmacy reimbursement rates of interest, weaker demand for Covid products and a difficult macroeconomic environment.

The company said Friday that, amongst other ongoing cost-cutting measures, it’s simplifying its U.S. health care portfolio and finalizing plans to shut low-revenue U.S. stores over several years.

“75% of our deals today are responsible for 100% of our profitability,” Wentworth said. “That means we're going to look closely at the others and close a certain number of them…”

Here's what Walgreens reported in comparison with Wall Street expectations, based on an LSEG analyst survey:

Earnings per share: 63 cents adjusted in comparison with 68 cents expected
Revenue: $36.4 billion in comparison with expected $35.94 billion

Walgreens reported revenue of $36.4 billion for the quarter, up 2.6% from the identical period last 12 months.

The company reported net income of $344 million, or 40 cents per share, for the quarter. During the identical period last 12 months, net income was $118 million, or 14 cents per share.

Excluding certain items, adjusted earnings for the quarter were 63 cents per share.

Walgreens didn’t provide a brand new revenue forecast for the fiscal 12 months. The company has not provided such guidance since October, when it expected revenue of $141 billion to $145 billion.

Strong development within the healthcare sector

Walgreens reported growth in all three business areas within the third quarter. However, the corporate's U.S. healthcare division deserves special mention, with sales increasing 7.6 percent in comparison with the identical period last 12 months.

The segment's revenue amounted to $2.13 billion. According to FactSet estimates, analysts had expected revenue of $2.08 billion.

The company said the upper sales were driven by primary care physician VillageMD and specialty pharmacy company Shields Health Solutions. Shields saw a 24% jump in sales throughout the period, driven by growth inside existing partnerships.

Specialty pharmacies focus on shelling out medications with special handling, storage and distribution requirements, often for patients with complex conditions akin to cancer and rheumatoid arthritis.

These results come one quarter after Walgreens reported a big net loss because it took a big charge of nearly $6 billion related to the decline in value of its investment in DorfMDThe company now plans to shut 160 VillageMD clinics, executives announced throughout the company's second-quarter earnings call in March.

“We are working with their management team to ultimately remain an investor but significantly reduce our investment and gain some liquidity so that we can reinvest in the pharmacy business, which is our future,” Wentworth told CNBC concerning the company's investment in VillageMD.

Walgreens' US pharmacy division generated sales of $28.5 billion within the third quarter of the fiscal 12 months, a rise of two.3 percent over the identical period last 12 months. Analysts had expected sales of $28.34 billion, in keeping with FactSet estimates.

This segment operates greater than 8,000 drugstores within the United States that sell prescription and nonprescription drugs, in addition to health and wellness, beauty, personal care and dietary products.

The company said the revenue growth was entirely because of comparable pharmacy sales and was partially offset by a decrease in retail revenue.

Walgreens said pharmacy sales increased 4.4% within the quarter and comparable pharmacy sales increased 5.7% in comparison with the identical period last 12 months, because of price increases for brand-name drugs and the rise in prescribed drugs.

The total variety of prescriptions filled throughout the quarter, including vaccines, was 306.4 million, a rise of 0.5% over the identical period last 12 months.

Retail sales fell 4% within the quarter in comparison with the identical quarter last 12 months and comparable retail sales fell 2.3%. The company cited a “difficult” retail environment, amongst other things.

Walgreens' international segment, which operates greater than 3,000 retail stores abroad, reported third-quarter sales of $5.73 billion, up 2.8% from the identical period last 12 months.

The company said sales of its UK-based drugstore chain Boots rose 1.6 percent.

Walgreens has reportedly scrapped plans for a possible IPO of the subsidiary and is in informal talks with potential buyers, including private equity firms, Bloomberg News reported earlier this month.

However, Wentworth said Walgreens has no plans to sell the chain.

“There is no doubt at this point that Boots is a great contributor to us,” he told CNBC.

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