BRIEF—First-of-its-kind agreement between Amgen and a standalone PBM

Abarca, a Florida, USA-based a pharmacy benefit manager that is disrupting the industry with smarter technology and innovative strategies, has signed an outcomes-based contract with US biotech giant Amgen for the cholesterol-lowering drug, Repatha (evolocumab).

This agreement is the first of its kind involving Amgen's Repatha and a standalone PBM.

"In the future, our payers and members will only pay for therapies that deliver expected outcomes and provide meaningful clinical value," said Jaspn Norschow, Abarca's chief executive.

Repatha is a PCSK9 inhibitor indicated to reduce the risk of myocardial infarction, stroke, and coronary revascularization in adults with established cardiovascular disease.

Recently, Abarca also announced an outcomes-based contract with Biogen for medications used to treat multiple sclerosis.

Abarca is currently collaborating with several drug manufacturers for similar agreements.

Abarca says it is is a different kind of company that rejects traditional PBM thinking, and its aggressive push for outcomes-based contracts is just one example.

Abarca's smarter technology platform focuses on delivering a better experience for members and plans, and its higher standard of business practices also set it apart from the industry.

Founded more than a decade ago, today Abarca serves more than two million members and manages more than a billion dollars in drug spend, the company said.