The agreement is the first to apply value-based contracts to cover patients in Puerto Rico.
SAN JUAN, Puerto Rico, July 27, 2017 /PRNewswire/ -- Abarca Health, a pharmacy benefit management (PBM) and technology company that serves more than two million lives across the nation, has signed a value-based reimbursement contract with Biogen Inc. (NASDAQ: BIIB) for select products in Biogen's leading multiple sclerosis (MS) portfolio. This first-of-its-kind agreement between the companies offers an innovative approach to connecting outcomes with the effective net cost of the products. The agreement places accountability on Biogen to deliver safety, efficacy, and value for the patients who receive these life-impacting therapies and for the payers who finance them.
"We are excited to partner with Biogen in implementing this innovative, data-driven, and outcomes-based pricing program for MS drug therapies. We believe this program is a significant milestone in our efforts to collaborate with pharmaceutical manufacturers to find a better way to guide patients and payers down the path to value, especially in high impact disease categories," stated Javier Gonzalez, Chief Operating Officer of Abarca Health.
This contract builds on Abarca Health's ongoing work with Biogen to find better ways to collaborate in the treatment of patients afflicted with complex, high-cost conditions.
"We believe that contracting approaches like this will help expand access for patients. We are excited to work with an innovative partner like Abarca Health and lead the way for MS care." said Jean-Paul Kress, Executive Vice President and President, International and Head of Global Therapeutic Operations of Biogen.
Outcomes-based contracting is an important part of the future of healthcare. By partnering with manufacturers such as Biogen, Abarca Health is ensuring greater accountability around the investments made by payers and patients in high cost treatments, which leads to better access and better outcomes for patients.
About ABARCA HEALTH
As a pharmacy benefit management and technology company, Abarca Health serves more than 2 million people across the nation helping its clients manage over $1 billion in pharmaceutical spending. The company leverages its people, culture and technology to develop deep partnerships with health plans, government programs, self-insuring employer and union groups, among other payers - partnerships that are both authentic and flexible. By building trust with and delivering consistently for its customers, Abarca is able to better work together to create a healthcare experience that cares for us like family, guides us on the path to value, and inspires us to live better every day. For more information, please visit www.abarcahealth.com.
Through cutting-edge science and medicine, Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases. Founded in 1978, Biogen is a pioneer in biotechnology, and today the company has the leading portfolio of medicines to treat multiple sclerosis; has introduced the first and only approved treatment for spinal muscular atrophy; and is at the forefront of neurology research for conditions including Alzheimer's disease, Parkinson's disease and amyotrophic lateral sclerosis. Biogen also manufactures and commercializes biosimilar of advanced biologics. For more information, please visit www.biogen.com.
SOURCE Abarca Health
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