AVENTURA, FL -- Abarca, a pharmacy benefit manager (PBM) that is disrupting the industry with an entirely new approach to technology and business practices, today announced it has entered into an outcomes-based contract with Amgen (NASDAQ: AMGN) for the drug Enbrel® (etanercept). Under the agreement, Amgen will issue rebates to Abarca's clients for eligible members who discontinue the use of the drug after three months of treatment. This applies to members of commercial health plans who are using the drug for the treatment of moderate to severe rheumatoid arthritis.
"This is a win for all parties," said Jason Borschow, president and CEO of Abarca. "It will provide Amgen valuable information about how Enbrel® is utilized, it will lower costs for plans, and it will bring additional benefits to our healthcare system."
Drugs that treat auto-immune conditions are the fastest-growing segment for commercial health plans. Enbrel® is a biologic medicine used to treat five inflammatory conditions and is one of the most highly utilized specialty drugs for this market.
Outcome-based agreements have been a hot topic in the healthcare industry for several years. However, because most PBMs do not have the technology in place to track and report when a member discontinues a drug, relatively few have been implemented. The agreement announced today was made possible by Darwin, Abarca's smarter PBM platform, which tracks utilization in real-time and generates the detailed information drug makers need to issue a rebate.
"Amgen has been a great partner," continued Borschow. "Their dedication to learning about how patients interact with their medications is admirable, and we are looking forward to continuing to work together to find new approaches to serve our clients and members."
Abarca is currently collaborating with several drug manufacturers for similar agreements.
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