Valeant to reduce dermatological, ophthalmological prescription prices by 10% at Walgreens

Valeant Pharmaceuticals International announced today in a press release new fulfillment agreements in which Valeant will reduce prices of its branded prescription-based dermatological and ophthalmological products by 10%.

The plan includes more than 8,000 Walgreens U.S. retail pharmacy locations and participating independent retailers, according to the release. Pricing applies to wholesale list prices of the products over the next 6 to 9 months.

The 20-year agreement will cover dermatology products including Jublia, Luzu, Solodyn, Retin-A-Micro Gel 0.08%, Onexton and Acanya Gel, and ophthalmology products including Besivance, Lotemax, Alrex, Prolensa, Bepreve and Zylet.

Patients with commercial insurance may see lower out-of-pocket costs and reduced copays, set to be as low as zero for some products initially, according to the release. The cost-sharing program does not apply to patients with government insurance because of government regulation.

Walgreens and Valeant also entered into a separate agreement in which Valeant will distribute more than 30 branded products, where generics are available, in the dermatology, ophthalmology, gastrointestinal and neurology/other therapeutic areas through Walgreens at generic prices, according to the release.

The reduced prices are expected at the beginning of the second half of 2016 and will range from 5% to 95% lower, or a weighted average price decrease of more than 50%. The products covered include Aldara, Tiazac and Glumetza. This program will include patients with government coverage, according to the release.

The expected annual savings to the health care system when the programs are fully implemented is up to $600 million, the release reported.

“We have listened to what the marketplace is saying and we’ve taken positive steps to respond,” J. Michael Pearson, chairman and CEO of Valeant, said in the release. “Our goal is to create a system that allows prescription medication to be dispensed and insurance claims adjudicated in an efficient manner while allowing physicians to focus their efforts on what matters most: patient care.”

Reference: www.valeant.com