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UnitedHealth's (UNH) Optum Rx Makes Patient Care Affordable
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UnitedHealth Group, Inc’s. (UNH - Free Report) Optum Rx is expanding its offerings for patients with the introduction of two additional HUMIRA biosimilars. Effective Jul 1, Optum Rx will offer three biosimilar alternatives for HUMIRA, a widely used biologic medication for autoimmune diseases.
With an expansive pharmacy network and a commitment to patient care, Optum Rx, the pharmacy care business of UNH and a sub-unit of Optum, is poised to enhance its business by improving treatment accessibility for a wider range of individuals.
Introducing HUMIRA Biosimilars
Biosimilars are medications that are highly similar to an existing biological drug.
Hyrimoz, adalimumab-adaz and Cyltezo have been added to the Optum Rx formulary at parity with HUMIRA.
HUMIRA biosimilars are used for the treatment of various autoimmune conditions, including rheumatoid arthritis, psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis, and offer increased flexibility and affordability in patient care.
Optum Rx's Expansive Pharmacy Network
Optum Rx recognizes the importance of providing patients with a range of treatment options. It boasts an extensive pharmacy network, collaborating with a wide range of retail and specialty pharmacies nationwide.
This network ensures that patients have access to their prescribed medications conveniently, regardless of their location. By leveraging its expansive pharmacy network, Optum Rx aims to provide patients seamless access to the newly introduced HUMIRA biosimilars. This commitment to accessibility and convenience aligns with Optum Rx's mission to deliver exceptional pharmacy care services to patients.
Enhancing Business for Optum Rx
The introduction of two additional HUMIRA biosimilars is expected to enhance business prospects for Optum Rx. By expanding its portfolio of biosimilars, Optum Rx can attract a broader patient base seeking cost-effective alternatives to the original HUMIRA medication. Furthermore, the increased availability of biosimilars can result in improved patient outcomes and satisfaction. Through this strategic move, Optum Rx intends to solidify its position as a leading provider of comprehensive pharmacy care services while expanding its reach in the competitive healthcare market.
With an expansive pharmacy network and a focus on enhancing patient outcomes, Optum Rx is well-positioned to meet the evolving needs of individuals seeking effective and accessible healthcare solutions.
The sound performance of Optum Rx is likely to drive Optum’s revenues in the days ahead.
Another Industry Player in the Field of Biosimilars
The field of biosimilars has seen significant growth and involvement from various industry players.
Cigna Corporation’s (CI - Free Report) pharmacy business plans to include biosimilars as preferred products within its commercial formularies from 2023. The decision to extend the latest pharmacy benefit in the form of biosimilars reflects Cigna’s continuous efforts to bring substantial cost savings as well as increased choices for its clients who want to avail specialty medications.
Enhanced pharmacy offerings are expected to lure more customers to buy prescription medications from Cigna’s pharmacy network. This, in turn, is likely to boost its pharmacy revenues that contribute massively to the overall top line of CI.
Shares of UNH have lost 9.9% in a year compared with the industry’s decline of 10.5%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Humana Inc. (HUM - Free Report) and The Ensign Group (ENSG - Free Report) , both carrying Zacks Rank #2 (Buy).
Humana’s earnings surpassed the Zacks Consensus Estimate in the last four quarters, with the average surprise being 8.87%. The Zacks Consensus Estimate for HUM’s 2023 and 2024 earnings per share indicates a year-over-year increase of 12% and 13.3%, respectively. Year to date, HUM shares have lost 13.1%.
Ensign Group delivered an average four-quarter earnings surprise of 0.45%. The Zacks Consensus Estimate for ENSG’s 2023 and 2024 earnings per share indicates a year-over-year increase of 13.5% and 8.9%, respectively. Year to date, ENSG shares have lost 3.7%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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UnitedHealth's (UNH) Optum Rx Makes Patient Care Affordable
UnitedHealth Group, Inc’s. (UNH - Free Report) Optum Rx is expanding its offerings for patients with the introduction of two additional HUMIRA biosimilars. Effective Jul 1, Optum Rx will offer three biosimilar alternatives for HUMIRA, a widely used biologic medication for autoimmune diseases.
With an expansive pharmacy network and a commitment to patient care, Optum Rx, the pharmacy care business of UNH and a sub-unit of Optum, is poised to enhance its business by improving treatment accessibility for a wider range of individuals.
Introducing HUMIRA Biosimilars
Biosimilars are medications that are highly similar to an existing biological drug.
Hyrimoz, adalimumab-adaz and Cyltezo have been added to the Optum Rx formulary at parity with HUMIRA.
HUMIRA biosimilars are used for the treatment of various autoimmune conditions, including rheumatoid arthritis, psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis, and offer increased flexibility and affordability in patient care.
Optum Rx's Expansive Pharmacy Network
Optum Rx recognizes the importance of providing patients with a range of treatment options. It boasts an extensive pharmacy network, collaborating with a wide range of retail and specialty pharmacies nationwide.
This network ensures that patients have access to their prescribed medications conveniently, regardless of their location. By leveraging its expansive pharmacy network, Optum Rx aims to provide patients seamless access to the newly introduced HUMIRA biosimilars. This commitment to accessibility and convenience aligns with Optum Rx's mission to deliver exceptional pharmacy care services to patients.
Enhancing Business for Optum Rx
The introduction of two additional HUMIRA biosimilars is expected to enhance business prospects for Optum Rx. By expanding its portfolio of biosimilars, Optum Rx can attract a broader patient base seeking cost-effective alternatives to the original HUMIRA medication. Furthermore, the increased availability of biosimilars can result in improved patient outcomes and satisfaction. Through this strategic move, Optum Rx intends to solidify its position as a leading provider of comprehensive pharmacy care services while expanding its reach in the competitive healthcare market.
With an expansive pharmacy network and a focus on enhancing patient outcomes, Optum Rx is well-positioned to meet the evolving needs of individuals seeking effective and accessible healthcare solutions.
The sound performance of Optum Rx is likely to drive Optum’s revenues in the days ahead.
Another Industry Player in the Field of Biosimilars
The field of biosimilars has seen significant growth and involvement from various industry players.
Cigna Corporation’s (CI - Free Report) pharmacy business plans to include biosimilars as preferred products within its commercial formularies from 2023. The decision to extend the latest pharmacy benefit in the form of biosimilars reflects Cigna’s continuous efforts to bring substantial cost savings as well as increased choices for its clients who want to avail specialty medications.
Enhanced pharmacy offerings are expected to lure more customers to buy prescription medications from Cigna’s pharmacy network. This, in turn, is likely to boost its pharmacy revenues that contribute massively to the overall top line of CI.
Zacks Rank and Price Performance
UnitedHealth Group carries a Zacks Rank #3 (Hold) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of UNH have lost 9.9% in a year compared with the industry’s decline of 10.5%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Humana Inc. (HUM - Free Report) and The Ensign Group (ENSG - Free Report) , both carrying Zacks Rank #2 (Buy).
Humana’s earnings surpassed the Zacks Consensus Estimate in the last four quarters, with the average surprise being 8.87%. The Zacks Consensus Estimate for HUM’s 2023 and 2024 earnings per share indicates a year-over-year increase of 12% and 13.3%, respectively. Year to date, HUM shares have lost 13.1%.
Ensign Group delivered an average four-quarter earnings surprise of 0.45%. The Zacks Consensus Estimate for ENSG’s 2023 and 2024 earnings per share indicates a year-over-year increase of 13.5% and 8.9%, respectively. Year to date, ENSG shares have lost 3.7%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.