๐ Congratulations to Abdul Kaiyoom for continuously embodying the development and growth mindset. ๐
The latest evidence is the Certificate of Award in "๐๐๐๐ยฎ5 (๐๐จ๐จ๐ ๐๐ฎ๐ญ๐จ๐ฆ๐๐ญ๐๐ ๐๐ฆ๐๐ง๐๐๐๐ญ๐ฎ๐ซ๐ข๐ง๐ ๐๐ซ๐๐๐ญ๐ข๐๐)" in collaboration with GetReskilled.
#Growth#GMP#Biopharma#Development
This is an example of how taking GMP seriously really pays off for quality and patients. More often than not, the right GMP-mindset rather than a host of certifications truly wins the day for pharma-grade material quality. Many in the Excipient business say they do GMP. But only some actually do! #KLKKolb#ExpertsInstitut#Excipients#GMP#cGMP#pharmaceuticalexcipientshttps://lnkd.in/eWW3gJkc
One month ago, we happily contributed to BSMA Europe conference in Belgium. Here is a short video to give you a taste of the event and its atmosphere!
See you in La Hulpe next year
#bsma#biopharma#supplychain
SARIAโs depth of knowledge in specialist areas is acknowledged worldwide and has led to the formation of a number of joint enterprises. Working alongside a number of major international companies, SARIAโs partnerships operate at the forefront of the industry to develop and produce new technologies in food and by-product processing.
One example is the partnership operation between SARIA and LGI Group, APC GB โ specialising in the collection and processing of animal blood. Using a process called fractionation, APC produces haemoglobin for use in the aqua-culture industry; albumen for use in pet foods; and immunoglobin for pharmaceutical use.
Find out more: https://bit.ly/3xBCS1B#DisposalChain#AnimalByproduct#Partnerships#Processing#Sustainability
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Nationally Recognized Expert in Health Care and Life Sciences, Educator, Regulatory Consultant, Patient Access Advocate, Independent Director, and Retired Sidley Austin Partner
According to Sanofi, PBMs REALLY Prioritized Their Own Fees over Rebates
Brian Reid has focused on a key feature of the Sanofi Price Transparency Report. It tells us a good deal about what is wrong with the traditional PBM model.
A Conflicted Core: The problem with traditional PBMs is, at their heart, they are the product of a conflict of interest. They are paid largely by manufacturers, but are the agents of plan sponsors and health plans in negotiations with the drug makers.
They are paid by Paul to rob Paul on behalf of Peter, if I can mess with the old adage.
Two Conflicting Tasks: The conflict plays out in the two principal financial contract tasks they address in negotiations with drug makers.
First, they negotiate both โrebatesโ on drug purchases that, they say, they โtypicallyโ pass through to plan sponsors and health plans.
Second, at the same time, they also negotiate their โPBM feesโ with the drug makers. These fees are analyzed for Antikickback Statute purposes under the โgroup purchasing organizationโ safe harbor that, by analogy, OIG allowed them to apply to their operations in the 2003 Guidance to Pharmaceutical Manufacturers. The traditional PBMs generally keep most, if not all, of the fees.
So, the negotiations inevitably create a tensionโa conflict.
Negotiations are ultimately a zero sum game. There are not so much in combined concessions that a drug maker is willing to make.
If PBMs negotiate an extra 1% of rebates, they receiveโthe PBMs sayโlittle of that. But if they negotiate the same 1% increase on the โfeeโ side, they increase their own revenues, without advantaging their client sponsors or plans, by the lionโs share, if not all, of that increase.
Sanofiโs Reported Experience: So, now letโs look at the language Brian has pointed us to. Sanofi reports that, for 2023, the relevant fees increased by 15%, while the rebates increased by 3%. Fees increased at a rate 5x the rebate increase.
Would you pay a financial advisor 15% to get you a 3% return?
If so, please message meโI want to be your financial advisor.
The Value of Transparency: Although itโs not often the focus of calls for PBM transparency in legislative and regulatory reform, this example shows that an important part of the solution is to require PBMs to disclose to health plans and sponsors the amount of the rebates they negotiate vs. all of the other payments they receive (the โfeesโ).
A Modest Proposal: OIG could mandate disclosure of rebates vs. fees tomorrow under a revised safe harbor. This information is critical for plans and sponsors to understand if and how traditional PBMs are managing the conflict that lies at the heart of their business model.
Bottom Line: Based on what Sanofi is saying here, PBMs are prioritizing their profits over their clientsโ interests.
#pbms#sanofi#pcma#optum#esi#caremark#aks#gpo#oig#hhs
The Sanofi Pricing Principles Report is a gift that keeps on giving. Here's a great nugget on the double-digit increase in *fees* (separate from rebates) that Sanofi paid to PBMs, etc. in 2023.
Aligns well with the Nephron research on fees from last autumn (link in comments).
h/t to Real Chemistry, which flagged the fees nugget in their weekly newsletter.
Chief Executive Officer at Westbourne IT Global Services
4dCongratulations Abdul great achievement well done ๐