What Every Challenger Brand Can Learn From The Nation’s Smallest Pharmacies
Forbes A campaign against drug rebate kickbacks isn’t something you’d typically think would have much relevance to small businesses in other industries. However, a recent effort by a Florida-based small business pharmacy advocacy group, SPAR (Small Business Pharmacies Aligned for Reform), is offering a glimpse of how small, challenger businesses can fight back against much larger and more powerful organizations—and win. The founding of SPAR dates to a Trump administration Executive Order to prevent the drug rebate kickbacks passed between prescription drug manufacturers and pharmacy benefit managers (PBMs). Essentially, PBMs, which work with health insurance companies, negotiate with pharmaceutical companies to receive a portion of a drug’s list price every time that drug is dispensed. These “rebates,” which the PBMs receive, are factored into the cost of a drug’s final cost to the patient, which leads to steep price increases for consumers and patients. When PBMs and pharmaceutical companies launched heavily-funded lobbying …
What Every Challenger Brand Can Learn From The Nation’s Smallest Pharmacies Read More »