Implementation of Magellan Rx Management Oncology Biosimilar Technology Leads to $40 Million in Annualized Savings

Magellan Rx Management announced that its customers have experienced annualized savings exceeding $40 million. The technology solution promotes the use of biosimilars, leading to health plans saving approximately 20% in costs upon switching to lower-priced cancer drugs.

Magellan Rx Management’s Senior Vice President and General Manager Steve Cutts remarks, “Magellan Rx continues to be a market leader and disrupter in delivering leading-edge solutions for the evolving healthcare landscape,” adding, “We have been tracking the emergence of biosimilars and started to deliver biosimilar-first solutions as early as 2016. It’s our commitment to staying ahead of the trend that has made us a trusted partner in medical benefit management for nearly two decades.” Read more here.

(Source: Magellan Health, 6/9/21)