First-of-its-kind agreement between Amgen and a standalone PBM
MIAMI, Feb. 22, 2018 /PRNewswire/ — Abarca, a pharmacy benefit manager that is disrupting the industry with smarter technology and innovative strategies, today announced it has signed an outcomes-based contract with Amgen for the cholesterol-lowering drug, Repatha® (evolocumab). This agreement is the first of its kind involving Amgen's Repatha and a standalone PBM.
"In the future, our payers and members will only pay for therapies that deliver expected outcomes and provide meaningful clinical value," said Jason Borschow, Abarca's Chief Executive Officer. "We are proud to partner with Amgen, a company that stands by its products, to make this a reality today for the clients and members we serve."
Repatha is a PCSK9 inhibitor indicated to reduce the risk of myocardial infarction, stroke, and coronary revascularization in adults with established cardiovascular disease. Recently, Abarca also announced an outcomes-based contract with Biogen for medications used to treat multiple sclerosis. Abarca is currently collaborating with several drug manufacturers for similar agreements.
Abarca is a different kind of company that rejects traditional PBM thinking, and its aggressive push for outcomes-based contracts is just one example. Abarca's smarter technology platform focuses on delivering a better experience for members and plans, and its higher standard of business practices also set it apart from the industry. Founded more than a decade ago, today Abarca serves more than two million members and manages more than a billion dollars in drug spend.
"Our business philosophy is simple: Put our clients and members first in everything we do," concluded Borschow. "When that is your priority, the decision to pursue value-based agreements suddenly becomes an obvious one."