Catamaran Corporation Unveils New Specialty Pharmacy Offering
BriovaRx™ to provide personalized care to patients with complex and chronic conditions as demand for specialty pharmacy drugs grows
LISLE, IL, Oct. 1, 2012 /PRNewswire/ - Catamaran Corp. (NASDAQ: CTRX), (TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology today announced it has launched its new specialty brand, BriovaRx™. BriovaRx marks the beginning of a new day in the specialty sector, delivering personalized, holistic care to patients with complex and chronic conditions to improve health outcomes.
"Patients diagnosed with complex medical conditions often face insurmountable challenges in managing their conditions - financially, emotionally, and physically," said Mark Thierer, Chairman and CEO of Catamaran. "In contrast to an industry that's focused solely on the drug, BriovaRx focuses on the patient, ensuring they receive one-on-one support and a personalized plan that addresses all conditions - not just the underlying chronic illness - to help them lead healthy, vibrant lives."
As the fifth largest specialty pharmacy in the nation, BriovaRx has the skill and scale to effectively manage costs for health plans and other payers challenged by escalating specialty drug prices and increased utilization. According to projected trend figures, specialty plan spending is estimated to grow from 18 percent of total pharmacy costs (2010) to 43 percent by 2020.
"Since 11 of the 16 most utilized drugs in the nation are classified as specialty, BriovaRx addresses a growing need in our communities to better manage complex conditions like Hepatitis C, Cancer, Crohn's Disease, HIV, Multiple Sclerosis, and others," said Albert Thigpen, Senior Vice President, Pharmacy Operations of Catamaran. "BriovaRx provides a support system for the patient and coordinates the efforts of providers and payers to streamline delivery and administration of treatment to ensure a more positive experience for every patient and more time for physicians to focus on care."
Catamaran, under its former name SXC Health Solutions, has more than 15 years of experience within specialty pharmacy. BriovaRx replaces its former specialty pharmacy offering, Medfusion/Ascend.
Catamaran, the industry's fastest-growing pharmacy benefits manager, helps organizations and the communities they serve take control of prescription drug costs. Managing more than 200 million prescriptions each year on behalf of 25 million members, our flexible, holistic solutions improve patient care and empower individuals to take charge of their health. Processing one in every five prescription claims in the U.S., Catamaran's skill and scale deliver compelling financial results and sustainable improvement in the overall health of members. Catamaran is headquartered in Lisle, Ill. with multiple locations in the U.S. and Canada. For more information, please visit www.catamaranRx.com.