Walgreens recently announced a significant expansion of its specialty pharmacy services by partnering directly with drugmakers to make cell and gene therapies more accessible to U.S. patients. This move comes as the company continues to invest in the growing specialty pharmacy segment, highlighting the increasing importance of providing care for patients with chronic, rare, or complex conditions such as cancer, Crohn’s disease, and HIV.
Specialty Pharmacies and Their Role
Specialty pharmacies have emerged as crucial players in the U.S. healthcare system, particularly as the prevalence of chronic diseases rises. These pharmacies are tasked with handling, storing, and distributing medications that require meticulous care. In addition to providing specialized medications, they also offer counseling, financial assistance, and support services tailored to the unique needs of patients undergoing costly treatments.
Walgreens’ New Investments
As part of its efforts to enhance its specialty pharmacy services, Walgreens is set to open a state-of-the-art facility in Pittsburgh dedicated to cell and gene therapies. This 18,000-square-foot center will assist drugmakers and healthcare providers in navigating the complex supply chain for these treatments and addressing patient needs effectively. The decision to launch cell and gene therapy services aligns with the increasing number of approvals for these innovative treatments in the U.S. and the European Union.
Cell and gene therapies represent a groundbreaking advancement in healthcare, offering one-time, high-cost treatments that target the genetic source or cells to cure or alter the course of a disease significantly. With the FDA approving seven cell and gene therapies last year, including treatments for sickle cell disease, the market for these therapies is poised for growth. Experts anticipate a shift towards cell and gene therapies replacing traditional lifelong treatments for managing chronic diseases.
Walgreens’ newly established business unit is positioned as a leader in specialty pharmacy services, generating approximately $24 billion in revenue from this segment. Notably, the company operates independently of a pharmacy benefit manager, providing the flexibility to engage dynamically with different payers. This approach allows Walgreens to collaborate directly with pharmaceutical manufacturers, ensuring smoother product distribution and patient treatment initiation.
Enhanced Patient Resources
With the introduction of the new business unit, patients of AllianceRx and Walgreens’ network of community-based pharmacies gain access to a range of resources aimed at enhancing their care experience. These resources include expert clinicians specializing in key diseases, nutritionists, nurses, and support teams dedicated to advocating for patients. Furthermore, Walgreens’ community-based specialty pharmacies offer expedited access to specialty drugs and comprehensive services, such as injection training and side-effect management.
Professional Expertise and Comprehensive Drug Inventory
Walgreens boasts a team of over 1,500 specialty pharmacists, supported by 5,000 patient-advocacy team members and numerous specialized pharmacy teams. The company’s inventory includes more than 1,300 specialty drugs, with 240 classified as “limited distribution” drugs that are typically exclusive to select specialty pharmacies. This vast array of drugs and expert personnel underscores Walgreens’ commitment to delivering high-quality care to patients requiring specialized treatments.
Walgreens’ proactive approach to expanding its specialty pharmacy services to encompass cell and gene therapies reflects the company’s dedication to meeting the evolving healthcare needs of patients. By investing in cutting-edge facilities, fostering partnerships with drugmakers, and enhancing patient resources, Walgreens aims to provide comprehensive care and support to individuals with complex medical conditions. As the landscape of healthcare continues to evolve, Walgreens’ focus on innovation and patient-centric services positions it as a key player in the specialty pharmacy sector.