Walgreens is taking a bold step forward in the realm of healthcare by directly collaborating with drugmakers to bring cell and gene therapies to patients in the U.S. This move is part of a broader expansion of its specialty pharmacy services, marking a significant development in the ever-evolving landscape of healthcare delivery.
Specialty pharmacies play a crucial role in the healthcare system, particularly as chronic diseases continue to rise in prevalence. These pharmacies specialize in providing medications that necessitate meticulous handling, storage, and distribution. They cater to patients dealing with chronic, rare, or complex conditions such as cancer, Crohn’s disease, and HIV, offering not just medications, but also counseling and financial assistance to support patients in their treatment journey.
The Era of Cell and Gene Therapies
Walgreens’ decision to venture into cell and gene therapy services comes at a time when there has been a surge in approvals of these groundbreaking therapies in both the U.S. and the European Union. Cell and gene therapies are one-time, high-cost treatments aimed at targeting a patient’s genetic makeup or cells to either cure a disease or significantly alter its course. Many experts believe that these therapies have the potential to replace traditional lifelong treatments for chronic diseases.
Walgreens’ Strategic Moves
In light of these trends, Walgreens is making strategic investments to enhance its specialty pharmacy services. The company is set to unveil a newly licensed facility in Pittsburgh dedicated to services for cell and gene therapies. This 18,000-square-foot center will aid drugmakers and healthcare providers in navigating the intricate supply chain for these treatments, ensuring seamless patient management and care.
The U.S. Food and Drug Administration has approved seven cell and gene therapies in the past year alone, signaling a growing market for these innovative treatments. The FDA projects that it will be evaluating and approving between 10 and 20 cell and gene therapies annually by 2025. This underscores the immense potential and significance of these therapies in shaping the future of healthcare delivery.
As the largest independent provider of specialty pharmacy services, Walgreens is poised to lead the way in facilitating access to cutting-edge treatments. With approximately $24 billion in revenue from its specialty pharmacy segment, the company stands out for its independence from pharmacy benefit managers, offering the flexibility to dynamically contract with any payer. This enables Walgreens to collaborate directly with pharmaceutical manufacturers and providers, ensuring a smooth treatment experience for patients.
Enhancing Patient Care
Through its newly launched business unit, Walgreens is elevating the level of care offered to patients. Patients of AllianceRx and the company’s extensive network of community-based pharmacies now have access to a range of resources, including clinicians with specialized disease expertise, nutritionists, and nurses. These resources complement the expert care provided by specialty pharmacists, enhancing the overall patient experience and outcomes.
Walgreens’ foray into cell and gene therapy services represents a significant stride in revolutionizing healthcare delivery. By leveraging its expertise in specialty pharmacy services and forging direct partnerships with drugmakers, Walgreens is at the forefront of driving innovation and transforming patient care. The future holds immense promise for the integration of cell and gene therapies into mainstream healthcare, and Walgreens is poised to be a key player in this transformative journey.
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