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CVS Health Launches Reduced Rx Savings Program to Give Patients Access to More Affordable Medications
Thursday, March 16, 2017
WOONSOCKET, R.I., March 16, 2017 /PRNewswire/ -- CVS Health (NYSE: CVS) today announced the company will launch Reduced Rx , a prescription savings program that will offer discounts on certain medications through CVS Health's pharmacy benefits manager, CVS Caremark directly to patients. The program will help patients with high out of pocket costs afford essential medications. Novo Nordisk will participate in the prescription savings program. Through this program, CVS Health and Novo Nordisk will offer Novolin R , Novolin N and Novolin 70/30 human insulin at a cost of $25 per 10ml vial, which reflects a potential savings of as much as $100 for cash paying patients.
The Reduced Rx launch follows another affordability announcement made earlier this year by CVS Health. Working with Impax Laboratories, CVS Health announced in January that it has made the authorized generic for Adrenaclick, an epinephrine auto-injector for patients with allergic reactions, available at all CVS Pharmacy locations at the lowest cash price in the market, $109.99 for a two-pack. CVS Health collaborated to create both the generic Adrenaclick offering and the Reduced Rx program in response to consumer need for low cost options.
"We developed the Reduced Rx prescription savings program with Novo Nordisk because we both recognized a need and an opportunity to make critical medications more affordable for patients," said Jonathan Roberts, Executive Vice President and Chief Operating Officer, CVS Health. "This savings program will leverage CVS Caremark's expertise in providing lower cost prescription drugs and fulfill our company's purpose of helping people on their path to better health."
"This program underscores how important collaboration is to addressing the affordability challenges patients face in certain health plans or who remain uninsured. We all have a role to play and that's why we welcomed the chance to work with CVS Health on this program," said Doug Langa, senior vice president and head of North America Operations, Novo Nordisk. "We're committed to developing sustainable solutions with customers and will continue to pursue opportunities to ensure that patients have access to insulin that is affordable."
"With nearly ten percent of the U.S. population living with diabetes, ensuring patients have access to affordable insulin is more important than ever," said Troyen Brennan, M.D., Executive Vice President and Chief Medical Officer, CVS Health. "We're pleased that our Reduced Rx prescription savings program can help assure that effective medications are also affordable."
Reduced Rx will allow patients to purchase medications at a reduced cost at any of the more than 67,000 pharmacies in the CVS Caremark retail network, including the more than 9,700 CVS Pharmacy locations throughout the U.S. Patients using the Reduced Rx prescription savings program will need to pay the cost of the medication out of pocket; the program cannot be used with any prescription drug insurance coverage. Patients can learn more about the Reduced Rx savings program at www.ReducedRx.com or by calling toll free 1-844-379-1668. Patient enrollment in the program will begin in May 2017. Following its initial offering with Novo Nordisk, CVS Health intends to expand the Reduced Rx prescription savings program to other medications and to address other conditions.
About CVS Health
CVS Health is a pharmacy innovation company helping people on their path to better health. Through its more than 9,700 retail locations, more than 1,100 walk-in medical clinics, a leading pharmacy benefits manager with nearly 90 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan, the company enables people, businesses and communities to manage health in more affordable and effective ways. This unique integrated model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.
About Novo Nordisk
Novo Nordisk is a global health care company with more than 90 years of innovation and leadership in diabetes care. This heritage has given us experience and capabilities that also enable us to help people defeat other serious chronic conditions: hemophilia, growth disorders and obesity. With U.S. headquarters in Plainsboro, N.J., Novo Nordisk Inc. has nearly 5,000 employees in the United States. For more information, visit www.novonordisk.us or follow us on Twitter: @novonordiskus.
Erin Shields Britt
CVS Health Corporate Communications
SOURCE CVS Health