You will be aware of the impending changes to listing, funding and pricing of various brands but are you aware of the cost of changing before the application of reference pricing ? We may not be working with large $ amounts but rather parts of $’s when it comes to the margin. Every little part $ counts especially when it relates to high volume brand change.

1 April 2017 will see the first part of the change with the listing and funding of Enlafax XR Caps 37.5 mg 84, Enlafax XR Caps 75 mg 84 and Enlafax XR Caps 150 mg 84. The listing price is substantially less than current pricing for Efexor XR and Venlafaxine-Arrow. Maybe commence all NEW patients on Enlafax XR, but consider leaving all other patients on existing medicine until the need to change occurs.

With our margins diminishing quickly, we need to understand how these changes can affect our business if implemented earlier than necessary. Yes you will ultimately need to change but do it for the right reason and at the right time.

 

Period 1 April to 12 May 2017.

37.5 mg –

Efexor XR Cap 28 schedule price $5.69, providing a margin of $0.1707c plus per pack fee $0.1720 = $0.3427 per dispensing of 30. Additional discounts available purchasing from Pfizer Website of 12% until 11th May 2017 in assorted parcel.

Venlafaxine XR Tabs 28 schedule price $5.06, providing a margin of $0.1518c plus per pack fee $0.1720 = $0.3238 per dispensing of 30.

Enlafax XR Caps 84 schedule price $6.38 (which will be repacked into 30 at an additional cost) therefore providing a margin of $0.0638c plus per pack fee (pro-rata) $0.0614 = $0.1252 per dispensing of 30.

 

75 mg –

Efexor XR Cap 28 schedule price $11.40, providing a margin of $0.3420c plus per pack fee $0.1720 = $0.5140 per dispensing of 30. Additional discounts available purchasing from Pfizer Website of 12% until 11th May 2017 in assorted parcel.

Venlafaxine XR Tabs 28 schedule price $6.44, providing a margin of $0.1932c plus per pack fee $0.1720 = $0.3652 per dispensing of 30.

Enlafax XR Caps 84 schedule price $8.11 (which will be repacked into 30 at an additional cost) therefore providing a margin of $0.0811c plus per pack fee (pro-rata) $0.0614 = $0.1425 per dispensing of 30.

150 mg –

Efexor XR Cap 28 schedule price $13.98, providing a margin of $0.4194c plus per pack fee $0.1720 = $0.5914 per dispensing of 30. Additional discounts available purchasing from Pfizer Website of 12% until 11th May 2017 in assorted parcel.

Venlafaxine XR Tabs 28 schedule price $8.86, providing a margin of $0.2658c plus per pack fee $0.1720 = $0.4378 per dispensing of 30.

Enlafax XR Caps 84 schedule price $11.16 (which will be repacked into 30 at an additional cost) therefore providing a margin of $0.1116c plus per pack fee (pro-rata) $0.0614 = $0.1730 per dispensing of 30.

225 mg –

Venlafaxine XR Tab 28 the only listed product.

Both Efexor XR and Venlafaxine will be reference priced from 1 June 2017, therefore any price decrease provided by the supplier will be available from 13th May 2017 where price support is being provided.

 

 

 

Period 13 May 2017 to 30 May 2017.

37.5 mg –

Efexor XR Cap 28 schedule price $5.69, providing a margin of $0.1707c plus per pack fee $0.1720 = $0.3427 per dispensing of 30. New purchase price and future schedule price $2.13 per 30 for the above stated period, improving your margin to $3.9027. (Pfizer List $2.80 less 24% discount = $2.1280) No minimum buy but be reasonable.

Venlafaxine XR Tabs 28 schedule price $5.06, providing a margin of $0.1518c plus per pack fee $0.1720 = $0.3238 per dispensing of 30. New purchase price and future schedule price $2.13 per 30 for the above stated period, improving your margin to $3.2538

Enlafax XR Caps 84 schedule price $6.38 (which will be repacked into 30 at an additional cost) therefore providing a margin of $0.0638c plus per pack fee (pro-rata) $0.0614 = $0.1252 per dispensing of 30.

75 mg –

Efexor XR Cap 28 schedule price $11.40, providing a margin of $0.3420c plus per pack fee $0.1720 = $0.5140 per dispensing of 30. New purchase price and future schedule price $2.70 per 30 for the above stated period, improving your margin to $9.2140. (Pfizer List $5.59 less 52% discount = $2.6832) No minimum buy but be reasonable.

Venlafaxine XR Tabs 28 schedule price $6.44, providing a margin of $0.1932c plus per pack fee $0.1720 = $0.3652 per dispensing of 30. New purchase price and future schedule price $2.70 per 30 for the above stated period, improving your margin to $4.1052.

Enlafax XR Caps 84 schedule price $8.11 (which will be repacked into 30 at an additional cost) therefore providing a margin of $0.0811c plus per pack fee (pro-rata) $0.0614 = $0.1425 per dispensing of 30.

150 mg –

Efexor XR Cap 28 schedule price $13.98, providing a margin of $0.4194c plus per pack fee $0.1720 = $0.5914 per dispensing of 30. New purchase price and future schedule price $3.72 per 30 for the above stated period, improving your margin to $10.8514. (Pfizer List $6.59 less 44% discount = $3.6904). No minimum buy but be reasonable.

Venlafaxine XR Tabs 28 schedule price $8.86, providing a margin of $0.2658c plus per pack fee $0.1720 = $0.4378 per dispensing of 30. New purchase price and future schedule price $3.72 per 30 for the above stated period, improving your margin to $5.5778.

Enlafax XR Caps 84 schedule price $11.16 (which will be repacked into 30 at an additional cost) therefore providing a margin of $0.1116c plus per pack fee (pro-rata) $0.0614 = $0.1730 per dispensing of 30.

225 mg –

Venlafaxine XR Tabs 28 schedule price $14.34, providing a margin of $0.4302c plus per pack fee $0.1720 = $0.6022 per dispensing of 30. New purchase price and future reference price $8.10 per 30 for the above stated period, improving your margin to $6.8422.

 

Period 1 June 2017 to 31 August 2017.

Special Authority requirement removed.

Both Pfizer and Teva (Actavis) have notified of price reductions to meet the Pharmaceutical Schedule price from 1 June 2017.

Pfizer by way of additional discount and ordering via Pfizer website, therefore no part charge is required. You need to override the part charge that comes up. Discounts will not apply to purchases direct from your wholesaler. No minimum buy but be reasonable.

Teva (Actavis) reduced the cost price to wholesale late April 2017, but did not provide price support for wholesale stock on hand. Therefore we will sell existing stock before dropping the price which will occur no later than 13th May 2017, therefore no part charge is required.

In a nutshell you can continue to purchase and dispense your patients existing medication at no additional cost (time and repackaging). Supporting those who have supported you in the transition phase, making it a WIN –WIN for both parties and most importantly the patient.

 

1 September 2017 onward only Enlafax will be listed and subsidised.

You may have patients who wish to stay on existing medication at a small cost, details of which will be provided by the end of August 2017.

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