Company Fully Equipped to Offer Unparalleled PBM
Experience with Superior Service and Unbiased Clinical Programs
BETHESDA, Md., July 15,
2024 /PRNewswire/ -- LucyRx is thrilled to
announce the completion of another strategic acquisition this
month, marking a significant milestone in our journey into the
Pharmacy Benefit Management (PBM) market. This recent transaction
along with our other acquisition and investments underscore our
commitment to revolutionizing the PBM landscape with innovative
solutions and a fresh perspective.
"We are excited to take this bold step forward and demonstrate
our readiness to redefine the PBM market."
The announcement comes at a pivotal time in the industry, as the
Federal Trade Commission (FTC) has recently issued an interim
report highlighting the significant impact traditional PBMs have on
drug accessibility and affordability. The FTC's findings emphasize
the urgent need for transparency and accountability within the
industry, aligning perfectly with LucyRx's mission to disrupt
conventional practices and enhance efficiency.
https://www.ftc.gov/news-events/news/press-releases/2024/07/ftc-releases-interim-staff-report-prescription-drug-middlemen
With these strategic moves, LucyRx is now managing over 500,000
members and offers a truly autonomous and unbiased approach
designed to establish a new standard for the evolving needs of the
healthcare industry. We continue to explore opportunities for
additional strategic acquisitions that reinforce our ability to
offer market leading solutions to our members.
"We are excited to take this bold step forward and demonstrate
our readiness to redefine the PBM market," said David Blair, CEO of LucyRx. "These acquisitions
position LucyRx as the dominant force in the market offering a
unique blend of services that set us apart from traditional PBMs.
We are eager to collaborate with consultants and industry partners
to drive better outcomes and more efficient healthcare
solutions."
LucyRx challenges the status quo. Our innovative strategies are
crafted to disrupt conventional practices, generate efficiencies,
and enhance the healthcare experience for all stakeholders. The
FTC's recent scrutiny and call for greater PBM transparency
reinforce the necessity of our approach, making LucyRx a timely and
essential player in the market.
"Traditional PBMs have abandoned their duty to manage drug costs
by ignoring opportunities for savings in categories like GLP-1s and
Biosimilars," said Susan Thomas,
Chief Commercial Officer at LucyRx. "Their pattern of preferring
volume over quality, expensive brand drugs over lower cost
alternatives and pushing their own affiliated mail and specialty
dispensing have cost plan sponsors billions of dollars in the last
few years," she said.
Lucy's approach and use of advanced decision support tools like
proprietary LightningIQ and Specialty Navigator identify real time,
unbiased cost containment solutions for specialty and non-specialty
drug categories, including biosimilars and GLP-1s.
"Unlike traditional PBMs, we ensure every decision is made in
the best interest of our clients, treating their money as if it
were our own," Thomas added.
LucyRx also delivers a complete integrated discount program that
can achieve better discounts for members on generic drugs. The
program works seamlessly with current pharmacy benefits and
delivers the lowest price at the point of sale, integrates with
current patient drug profiles for medication safety, and requires
no pre-shopping, separate discount cards, or added fees. These
efforts underscore the company's commitment to modernize this space
with a comprehensive portfolio of healthcare solutions.
About LucyRx
LucyRx was founded in 2023 and is headquartered in Bethesda, MD. Lucy derives from the Latin term
for 'light' symbolizing the company's mission to illuminate the
complexities of pharmacy benefits and guide clients towards optimal
healthcare solutions. LucyRx provides full visibility into drug
costs, reduced claims processing complexity, and a high-touch
client and member service model, filling gaps in the current
market. The company continues to evaluate investment and
partnership opportunities. For more information, please visit
www.lucyrx.com.
Contact
Alexandria Valentino
Chief of Staff
inquiries@lucyrx.com
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SOURCE LucyRx