Prime Therapeutics Joins the Campaign for Sustainable Rx Pricing

For Immediate Release
December 21, 2015

Contact:
John Rother
Campaign for Sustainable Rx Pricing
Executive Director
JRother@nchc.org

Karen Lyons, APR
Prime Therapeutics
Director, Communications
612.777.5742
klyons@primetherapeutics.com

Prime Therapeutics Joins the Campaign for Sustainable Rx Pricing

Washington, D.C.  Prime Therapeutics LLC (Prime), an independent pharmacy benefit manager overseeing pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid, recently joined the Campaign for Sustainable Rx Pricing (CSRxP). The coalition is a broad-based organization committed to raising awareness about high drug prices and advancing positive, market-oriented solutions to the affordability crisis caused by escalating drug prices.

“Prime has joined the Campaign at an important time in the fight against unsustainable drug pricing. We are working together toraise awareness about the challenges ahead for the U.S. health care system if we do not confront and address irresponsible drug pricing strategies,” John Rother, executive director of the Campaign for Sustainable Rx Pricing said. “We look forward to working with Prime in an effort to curb increasing drug prices that threaten access to affordable treatments that consumers need and deserve.”

“As a leading pharmacy benefits manager, it is our responsibility to ensure that price tags do not stand between consumers and the medicine they need. Prime is joining the Campaign to help shine a light on the issue,” said Jim DuCharme, president and CEO of Prime Therapeutics. “We want to work with others in the campaign to find realistic, market-based drug pricing solutions that are in the best interest of patients while preserving pharmaceutical innovation and competition inthe U.S. health care system.”

Prescription drug prices are on the rise and it is clear that unsustainable prices are impacting millions of Americans. Health spending in the United States last year topped $3 trillion according to a recent Health Affairs study. The IMS Institute for Healthcare Informatics found United States spending on prescription drugs saw the largest increase since 2001, with the nation’s pharmacy bill rising to $373.9 billion last year as new treatments came to market and manufacturers increased prices on old ones. Finally, a new Kaiser Family Foundation analysis shows that in 2016, Medicare Part D enrollees may face thousands of dollars in out-of-pocket costs for a single specialty drug to treat a disease such as cancer, rheumatoid arthritis, multiple sclerosis or hepatitis C.These costs are even after their drug costs exceed the catastrophic coverage threshold.

To learn more about the Campaign for Sustainable Rx Pricing please visit www.CSRxP.org.

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About the Campaign for Sustainable Rx Pricing
The Campaign for Sustainable Rx Pricing (CSRxP) is a project of the National Coalition on Health Care, the oldest and most diverse group working to achieve comprehensive health system reform representing more than 80 participating organizations, including medical societies, businesses, unions, health care providers, faith-based associations, pension and health funds, insurers and groups representing consumers, patients, women, minorities and persons with disabilities. Member organizations collectively represent – as employees, members, or congregants – over 100 million Americans. CSRxP aims to spark a national dialogue about the need to find market-driven solutions to the problems caused by the onslaught of new high-priced prescription medicines. Visit www.CSRxP.org and follow CSRxP on Twitter.

About Prime Therapeutics
Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime manages pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and delivers medicine to members, offering clinical services for people with complex medical conditions. Headquartered in St. Paul, Minn., Prime serves more than 26 million people. It is collectively owned by 13 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Prime has been recognized as one of the fastest-growing private companies in the nation. For more information, visit www.primetherapeutics.com or follow @Prime_PBM on Twitter