Today's Press Release That Will Be Most Closely Scrutinized by the DOJ

You've kinda got to admire the bald-faced cheek of Pfizer in its press release today regarding its formulary positions with Express Scripts (see the full text after the jump). The company said it had secured spots on Express's lists for Celebrex.

Close readers of this blog will remember that Pfizer's relationship with Express re Celebrex is controversial because it has been under investigation by the Boston US Attorney's office. The allegation is that PFE gave Express a lucrative, over-priced contract to run part of its Gentropin franchese and in return Express kept Celebrex on the formulary.

So it's interesting that Pfizer still feels able to boast about its close relationship with Express.

From today's release: “We are pleased to have renewed our relationship with Pfizer consistent with Express Scripts’ business model of alignment with client and patient interests,” said George Paz, Express Scripts chairman and chief executive officer. “In reaching this agreement, Pfizer has demonstrated a strong commitment to working with payers in a way that benefits all, especially our clients and patients.”

Perhaps that "commitment to working with payers" has been historically a little bit too strong ...

May 30, 2007 09:04 AM Eastern Daylight Time

Pfizer and Express Scripts Sign Agreement

ST. LOUIS & NEW YORK--(BUSINESS WIRE)--Express Scripts, Inc. (NASDAQ: ESRX), and Pfizer Inc (NYSE: PFE), today announced an agreement providing for Pfizer’s participation in Express Scripts’ rebate program. Due to improved terms under the agreement, Express Scripts has added Lipitor® (atorvastatin calcium), Pfizer’s treatment for high cholesterol and the reduction of heart attack and stroke, to its national preferred formulary, effective June 1. The terms of the agreement were not disclosed.

Express Scripts’ national preferred formulary for 2006-2007 also includes Pfizer’s medication for glaucoma, Xalatan® (latanoprost ophthalmic solution), and its anti-inflammatory medication, Celebrex® (celecoxib). The company is one of the nation’s largest managers of pharmacy benefit plans for managed care organizations, employers, labor unions and government entities.

“We are pleased to have renewed our relationship with Pfizer consistent with Express Scripts’ business model of alignment with client and patient interests,” said George Paz, Express Scripts chairman and chief executive officer. “In reaching this agreement, Pfizer has demonstrated a strong commitment to working with payers in a way that benefits all, especially our clients and patients.”

The majority of all discounts and related revenue under the program goes to Express Scripts’ clients, with specific amounts determined by individual client contracts.

“This agreement allows patients served by Express Scripts to have improved access to Lipitor,” said Jeff Kindler, chairman and chief executive officer of Pfizer. “Providing patients with the valuable medicines they need is a cornerstone of Pfizer’s mission. This agreement will allow millions of patients to have lower co-payments for Pfizer medicines. It is representative of our company’s commitment to improving patients’ access to medicines, and to meaningful engagements with our customers.”

Contacts

Pfizer Inc
Ray Kerins, 212-733-9203
or
Express Scripts, Inc.
Steve Littlejohn, 314-996-098

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Express Scripts’ national preferred formulary for 2006-2007 also includes Pfizer’s medication for glaucoma, Xalatan® (latanoprost ophthalmic solution), and its anti-inflammatory medication, Celebrex® (celecoxib). The company is one of the nation’s largest managers of pharmacy benefit plans for managed care organizations, employers, labor unions and government entities.