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magellan health inc (MAH1) Details

Magellan Health, Inc. provides healthcare management services in the United States. The company operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine. It also contracts with state Medicaid agencies, and the centers for Medicare and Medicaid services to manage care for beneficiaries under Medicaid and Medicare programs, such as healthcare and long-term support services through its network of medical and behavioral health professionals, clinics, hospitals, nursing facilities, home care agencies, and ancillary service providers. The Pharmacy Management segment comprises products and solutions that provide clinical and financial management of pharmaceuticals paid under medical and pharmacy benefit programs. It offers pharmacy benefit management services, such as pharmaceutical dispensing services; pharmacy benefit administration for state Medicaid and other government sponsored programs; clinical and formulary management programs; medical pharmacy management programs; and programs for the integrated management of specialty drugs that treat complex conditions. The company provides services to health plans and other managed care organizations, employers, labor unions, various military and governmental agencies, and third party administrators. Magellan Health, Inc. was founded in 1969 and is headquartered in Scottsdale, Arizona.

10,500 Employees
Last Reported Date: 02/28/19
Founded in 1969

magellan health inc (MAH1) Top Compensated Officers

Chairman, CEO & CEO of Magellan Healthcare
Total Annual Compensation: $1.4M
Chief Financial Officer
Total Annual Compensation: $706.5K
Chief Executive Officer of Magellan Rx Manage...
Total Annual Compensation: $540.0K
General Counsel & Secretary
Total Annual Compensation: $595.9K
Chief Human Resources Officer
Total Annual Compensation: $490.2K
Compensation as of Fiscal Year 2018.
magellan health inc
Magellan Health, Inc.'s Magellan Rx Management Launches Oncology Biosimilar Medical Pharmacy Solution, Aims to Improve Member Access, Reduce Costs and Save Customers Millions in Drug Spend

Magellan Rx Management, the pharmacy benefit management (PBM) division of Magellan Health, Inc. announced the launch of a medical pharmacy solution targeting oncology therapeutic biosimilars. In preparation for the expected 2019 market entry of oncology biosimilars, the solution aims to educate customers, members and providers through the implementation of individualized strategies that consider clinical, financial and regulatory factors. This will ultimately result in maintaining or expanding member access to clinically-effective treatments, while having the added benefit of delivering significant drug spend savings for participating customers. As a leader in managing medical benefit oncology drug spend, Magellan Rx has focused on advancing biosimilar utilization since 2015, empowering customers to turn biosimilar availability into cost savings while maintaining clinical quality. Building on the success of the Company’s recently announced medical pharmacy program focused on biosimilar versions of a high-cost autoimmune therapy, the expanded medical pharmacy solution is designed specifically for oncology biosimilars and involves three key components: Proactive Management: Assessing and developing clinical protocols while educating and communicating with network oncologists. Medical Pharmacy Execution: Leveraging Magellan Rx’s innovative oncology medical management expertise by incorporating biosimilars into key utilization management programs such as medical prior authorization and provider reimbursement/fee schedule management. Expert Opinion: Continuously working to gain insights from oncology advisory board and Expert Clinical Network of key opinion leaders.

Magellan Rx Management Announces Launch of Medical Pharmacy Solution Targeting Oncology Therapeutic Biosimilars

Magellan Rx Management announced the launch of a medical pharmacy solution targeting oncology therapeutic biosimilars. In preparation for the expected 2019 market entry of oncology biosimilars, the solution aims to educate customers, members and providers through the implementation of individualized strategies that consider clinical, financial and regulatory factors. This will ultimately result in maintaining or expanding member access to clinically-effective treatments, while having the added benefit of delivering significant drug spend savings for participating customers. As a leader in managing medical benefit oncology drug spend, Magellan Rx has focused on advancing biosimilar utilization since 2015, empowering customers to turn biosimilar availability into cost savings while maintaining clinical quality. Building on the success of the Company’s recently announced medical pharmacy program focused on biosimilar versions of a high-cost autoimmune therapy, the expanded medical pharmacy solution is designed specifically for oncology biosimilars and involves three key components: Proactive Management: Assessing and developing clinical protocols while educating and communicating with network oncologists Medical Pharmacy Execution: Leveraging Magellan Rx’s innovative oncology medical management expertise by incorporating biosimilars into key utilization management programs such as medical prior authorization and provider reimbursement/fee schedule management Expert Opinion: Continuously working to gain insights from oncology advisory board and Expert Clinical Network of key opinion leaders The U.S. Food and Drug Administration has reported that biological products are the fastest-growing class of therapeutics. Entrance of oncology therapeutic biosimilars marks an increase in competition that will have an impact on the landscape in this category. According to the 2018 Magellan Rx Medical Pharmacy Trend Report, oncology agents make up 34% of the total medical pharmacy spend for commercial plans. The three oncology brands with expected biosimilar availability in 2019 make up $9 billion in U.S. drug sales, and almost $50 million in annual drug spend per one million covered commercial lives. Magellan Rx is projecting savings to be $5 million to $8 million per one million covered lives, but there is potential for even greater savings based on Magellan Rx’s past successes with biosimilars. The opportunity is even more compelling for the Medicare population, where spend for the same three drugs is almost double at over $90 million per one million covered lives.

Centerbridge Reportedly Shows Strong Interest In Magellan

While most of the suitors for Magellan Health, Inc. (NasdaqGS:MGLN) want to buy only parts of the business, Centerbridge Partners, L.P. is showing "strong interest" and looks to be interested in taking the company private, said Dealreporter, according to contacts.

 

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Price/Sales 0.2x
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Price/Cash Flow 10.8x
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