This session will explore pharmacy pricing trends for 2025 and 2026 that actuaries need to understand. It will cover historical trend data and future projections related to key industry developments, including expanding biosimilar utilization (particularly for Humira and Stelara), AMP CAP, the proliferation of GLP-1 diabetes and weight loss medications, and the impact of state and federal PBM laws.
Additionally, the session will examine the financial implications of emerging PBM pricing models on overall trends. Topics will include pass-through pricing, acquisition cost pricing (such as NADAC), and PMPM rate caps or guarantees.