Catalyst Rx Launches Generic Advantage Plan
19 Febbraio 2008 - 2:45PM
Business Wire
Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of
HealthExtras, Inc. (NASDAQ:HLEX) announces its Generic Advantage
Plan. Developed after more than a year of consultation with
Catalyst Rx�s clients, the new plan offers the absolute lowest
generic drug prices through mail and eliminates the significant
markup traditional PBMs add to their client mail pricing. David
Blair, Chief Executive Officer of Catalyst Rx, stated, �The new
Generic Advantage Plan is the natural evolution of the Catalyst Rx
PBM model. Namely, pricing transparency and honesty with our
clients.� Mr. Blair went on to say, �It is the Catalyst Rx
commitment to pricing transparency that has been embraced by our
growing client base and is a key reason that Catalyst Rx has grown
at a rate substantially greater than any of its competitors.� Two
specific examples demonstrate the dramatic savings available to
Catalyst Rx clients as a result of the Generic Advantage Plan. A
90-day supply of the commonly prescribed omeprazole (generic
Prilosec�, Rapinex�) costs an average of $120 through a mail
service pharmacy while the same dosage, strength and form, can be
purchased using the Generic Advantage Plan pricing model for $34.
As a further example, a 90-day supply of the widely used
simvastatin (generic Zocor�) averages $142 when dispensed through
traditional mail service; the same medication would cost the client
only $16 utilizing the Generic Advantage Plan pricing model. The
Generic Advantage Plan prices noted above are a direct pass-through
of drug purchase prices along with a per-claim dispensing fee. The
plan is fully auditable. By utilizing this revolutionary pricing
model, Catalyst Rx�s clients can reduce total mail service drug
costs up to 15 percent and should realize additional savings as
generic utilization continues to grow. By 2010, an estimated 110
branded drugs, currently generating $50 billion in sales, are
projected to lose their patent protection and mail delivery of
chronic medications is predicted to increase with the aging
population. The Catalyst Rx Generic Advantage Plan is a series of
customizable initiatives designed to maximize quality of care,
increase generic utilization and drive patients to lowest cost
providers, resulting in greater overall savings to the plan and its
members. About Catalyst Rx Catalyst Rx is a full service pharmacy
benefit management (PBM) company providing effective solutions to
manage pharmacy benefit plans for self-insured employers, including
state and local governments, third party administrators, managed
care organizations and individuals. Founded in 1994 and developed
around strong, innovative principles in the management of
prescription drug programs, Catalyst Rx currently manages
approximately 5 million members located in all 50 states. The
Company�s continued commitment to innovation, efficiency and
superior customer service has provided the most care- and
cost-effective pharmacy solutions to its clients and their members.
This press release may contain forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements involve a number of risks and
uncertainties. Factors that we have identified that might
materially affect our results are discussed in our Annual Report on
Form 10-K for the year ended December 31, 2006 under "Item 1.A Risk
Factors." Readers are urged to carefully review and consider the
various disclosures made in our Annual Report on Form 10-K and our
other filings with the Securities and Exchange Commission that
attempt to advise interested parties of the risks and uncertainties
that may affect our business.
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