Disclosure Statement

To Contact:

labrams@nu-retail.com  

Tel: 831-254-7325    

Lawrence W. Abrams, Ph.D.            

PO Box 1285                   Watsonville, CA. 95077

              Pharmacy Benefit Managers

All papers downloadable:

PBM MERGERS

Wanted:  Reports (as .pdf) by Wall Street analyst Charles Boorady on the spin-off valuation of the captive PBMs of Wellpoint, Aetna, Cigna, and UnitedHealth done during May of 2008 (especially) and earlier.  Email me at labrams@nu-retail.com  Confidentiality respected.

Pharmacy Benefit Manager Valuation and Profitability: Business Models Matter (July 2009)

The Express Scripts - Wellpoint Deal: A "Double-Trouble Front" (August 2009)

Medco As a Business Model Imperialist (July, 2008)

De-Capitation: Express Scripts' Unspoken Plan for its Wellpoint PBM Acquisition  (May 2009)  

Pharmacy Benefit Managers as Conflicted Countervailing Powers (January 2007)

The CVS-Caremark Merger and the Coming Preferred Provider War (December 2006) 

The CVS-Caremark Merger: The Creation of an Elasticity of Demand for Retail Rx (November 2006)

The Effect of Corporate Structure on Formulary Design: The Case of Large Insurance Companies  ISPOR 10th Annual Meeting, May 16, 2005 Washington, D.C.

THE PBM BUSINESS MODEL:

Quantifying Medco's Business Model: An Update (November 2008)

Tale of Two PBMs: Express Scripts vs. Medco (November 2005)

Searching for Windfall Profits from a Change in the AWP Markup Ratio (September 2009)  

Contrary to What Wall Street and the FTC Say, The PBM Business Model is Misaligned (November 2005)

'Sins of Omission': A Review of the FTC Study of PBM Conflict of Interest (October 2005)

Medco's Transition to a Transparent Business Model (September 2005)   

Exclusionary Practices in the Mail Order Pharmacy Market (September 2005)  

Quantifying Medco's Business Model (April 2005) 

Estimating the Rebate-Retention Rate of Pharmacy Benefit Managers (April 2003)

Walgreen's Transparency Issue (November 2003)

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PBMs AS BARGAINING AGENTS:

Who is Best at Negotiating Pharmaceutical Rebates? (December 2005)

Pharmacy Benefit Managers as Conflicted Countervailing Powers (January 2007)

PBMs as Bargaining Agents  -- Paper presented at the 80th Annual Western Economic Association Meeting, July 6, 2005 San Francisco  

PBMs as Bargaining Agents -- PowerPoint presented at the 80th Annual Western Economic Association Meeting, July 6, 2005 San Francisco

CONSUMER-DIRECTED PHARMACY BENEFITS

The Future of Consumer-Directed Pharmacy Benefits (August 2007) 

Show Me the Display: A Review of an ESI Study of Consumer-Directed Pharmacy Benefits (July 2007)  

LEGAL:

Exclusionary Practices in the Mail Order Pharmacy Market (September 2005)  

The Role of Pharmacy Benefit Managers in Formulary Design: Service Providers or Fiduciaries?     Available at Journal of Managed Care Pharmacy  Vol. 10 No. 4  July/August 2004 pp 359-60

Practical Issues With PBM Full Disclosure Laws  Update Magazine 2004, Issue 4, 2004.  available with permission from FDLI

The Formulary Game (July 2003)

MEDICARE PART D

Should Medicare Finance E-Prescribing? (July 2007)

Medicare Part D and Preferred Provider Pharmacy Networks (April 2005)

©Lawrence W. Abrams, 2010