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Walgreens' (WBA) AllianceRx Pharmacy Will Now Distribute XDEMVY
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Walgreens Boots Alliance’s (WBA - Free Report) wholly-owned subsidiary — AllianceRx Walgreens Pharmacy — will now distribute Tarsus Pharmaceuticals-manufactured XDEMVY (lotilaner ophthalmic solution) 0.25%. AllianceRx Walgreens is one of the four specialty pharmacies selected to distribute the FDA-approved treatment for Demodex blepharitis (DB), a highly prevalent eyelid disease, which impacts almost 25 million eye care patients in the United States.
The addition of XDEMVY brings the specialty pharmacy’s number of LDDs (Limited Distribution Drugs) to more than 240, among the highest of specialty pharmacies in the United States. Walgreens offers specialty pharmacy services, among others, through its U.S. Retail Pharmacy Segment.
Significance of the Launch
Blepharitis is a common lid margin disease that is characterized by eyelid margin inflammation, redness and ocular irritation. Demodex blepharitis is caused by an infestation of Demodex mites, the most common ectoparasites found on human skin. Patients can easily overlook symptoms of Demodex blepharitis due to similarities with other eye conditions like dry eye or allergies. When left untreated, Demodex blepharitis can have clinical manifestations like inflammation of the lid and conjunctiva and corneal manifestations.
Image Source: Zacks Investment Research
Tarsus Pharmaceuticals’ novel prescription eye drop, XDEMVY, is designed to target and eradicate the Demodex mite infestation. The active ingredient in XDEMVY is lotilaner, a well-characterized agent that eradicates Demodex mites by selectively inhibiting the GABA-Cl channels.
News in Detail
AllianceRx Walgreens is excited to be selected as part of the network to offer Tarsus’ sought-after medication for patients. Per a representative, winning access to a limited distribution drug is all about the way the company takes care of patients, supports providers and builds services around patients and therapies. Access to these medications, along with the personalized support of the company’s Specialty360 Therapy Teams, are both integral to patients throughout their treatment.
Apart from XDEMVY, AllianceRx Walgreens also avails a few other LDDs, including Braeburn’s Brixadi (buprenorphine) extended-release injection for subcutaneous use (CIII), indicated for the treatment of moderate-to-severe opioid use disorder and Genentech‘s Columvi (glofitamab), which treats adults with certain types of diffuse large B-cell lymphoma or large B-cell lymphoma that has come back (relapsed), or that did not respond to previous treatment (refractory), and who have received two or more prior treatments for their cancer.
Also included in the list is Argenx-manufactured Vyvgart Hytrulo (efgartigimod alfa-fcab), a subcutaneous injection (delivered beneath the skin) for adults with anti-AChR antibody-positive generalized myasthenia gravis, a chronic autoimmune, neuromuscular disease that causes weakness in the skeletal muscles.
Industry Prospects
Per a Research report, the global pharmacy market was valued at $1.01 trillion in 2020 and is expected to witness a CAGR of 4.3% up to 2028.
Other Developments in the U.S. Retail Pharmacy Segment
Over the past two years, Walgreens has acquired and launched new businesses in several arenas, including specialty pharmacy services, all of which build upon its strong foundation in retail pharmacy to tap into high-growth healthcare services. In the fourth quarter of fiscal 2023, U.S. Pharmacy comp sales increased 9.2%, driven by brand inflation, mix impacts and comp script growth. A weaker-than-normal respiratory season and the impact of Medicaid redeterminations have resulted in a weaker overall prescription market during the quarter.
The U.S. Retail business was also impacted by a weaker-than-normal respiratory season and a continued shift in consumer behavior driven by a challenging macroeconomic environment. These factors led to a comparable sales decline of 3.3% in the fiscal fourth quarter. Last month, Walgreens launched a simple-to-use digital tool that is designed to help customers save money on prescription medications. Rx Savings Finder finds free third-party discount cards, providing patients with a quick and easy way to find lower prices on their Walgreens medications.
Price Performance
In the past six months, WBA shares declined 26.8% compared with the industry’s fall of 2.1%.
Zacks Rank and Key Picks
Walgreens currently carries a Zacks Rank #4 (Sell).
Haemonetics’ stock has gained 3.8% in the past year. Earnings estimates for Haemonetics have increased from $3.86 to $3.89 in 2023 and $4.11 to $4.15 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.91 to $1.91 in the past 30 days. Shares of the company have dropped 35.3% in the past year compared with the industry’s decline of 6.9%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.41 to $1.43 in the past 30 days and to $1.44 in the past seven days. Shares of the company have gained 0.1% in the past year against the industry’s decline of 6.2%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
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Walgreens' (WBA) AllianceRx Pharmacy Will Now Distribute XDEMVY
Walgreens Boots Alliance’s (WBA - Free Report) wholly-owned subsidiary — AllianceRx Walgreens Pharmacy — will now distribute Tarsus Pharmaceuticals-manufactured XDEMVY (lotilaner ophthalmic solution) 0.25%. AllianceRx Walgreens is one of the four specialty pharmacies selected to distribute the FDA-approved treatment for Demodex blepharitis (DB), a highly prevalent eyelid disease, which impacts almost 25 million eye care patients in the United States.
The addition of XDEMVY brings the specialty pharmacy’s number of LDDs (Limited Distribution Drugs) to more than 240, among the highest of specialty pharmacies in the United States. Walgreens offers specialty pharmacy services, among others, through its U.S. Retail Pharmacy Segment.
Significance of the Launch
Blepharitis is a common lid margin disease that is characterized by eyelid margin inflammation, redness and ocular irritation. Demodex blepharitis is caused by an infestation of Demodex mites, the most common ectoparasites found on human skin. Patients can easily overlook symptoms of Demodex blepharitis due to similarities with other eye conditions like dry eye or allergies. When left untreated, Demodex blepharitis can have clinical manifestations like inflammation of the lid and conjunctiva and corneal manifestations.
Image Source: Zacks Investment Research
Tarsus Pharmaceuticals’ novel prescription eye drop, XDEMVY, is designed to target and eradicate the Demodex mite infestation. The active ingredient in XDEMVY is lotilaner, a well-characterized agent that eradicates Demodex mites by selectively inhibiting the GABA-Cl channels.
News in Detail
AllianceRx Walgreens is excited to be selected as part of the network to offer Tarsus’ sought-after medication for patients. Per a representative, winning access to a limited distribution drug is all about the way the company takes care of patients, supports providers and builds services around patients and therapies. Access to these medications, along with the personalized support of the company’s Specialty360 Therapy Teams, are both integral to patients throughout their treatment.
Apart from XDEMVY, AllianceRx Walgreens also avails a few other LDDs, including Braeburn’s Brixadi (buprenorphine) extended-release injection for subcutaneous use (CIII), indicated for the treatment of moderate-to-severe opioid use disorder and Genentech‘s Columvi (glofitamab), which treats adults with certain types of diffuse large B-cell lymphoma or large B-cell lymphoma that has come back (relapsed), or that did not respond to previous treatment (refractory), and who have received two or more prior treatments for their cancer.
Also included in the list is Argenx-manufactured Vyvgart Hytrulo (efgartigimod alfa-fcab), a subcutaneous injection (delivered beneath the skin) for adults with anti-AChR antibody-positive generalized myasthenia gravis, a chronic autoimmune, neuromuscular disease that causes weakness in the skeletal muscles.
Industry Prospects
Per a Research report, the global pharmacy market was valued at $1.01 trillion in 2020 and is expected to witness a CAGR of 4.3% up to 2028.
Other Developments in the U.S. Retail Pharmacy Segment
Over the past two years, Walgreens has acquired and launched new businesses in several arenas, including specialty pharmacy services, all of which build upon its strong foundation in retail pharmacy to tap into high-growth healthcare services. In the fourth quarter of fiscal 2023, U.S. Pharmacy comp sales increased 9.2%, driven by brand inflation, mix impacts and comp script growth. A weaker-than-normal respiratory season and the impact of Medicaid redeterminations have resulted in a weaker overall prescription market during the quarter.
The U.S. Retail business was also impacted by a weaker-than-normal respiratory season and a continued shift in consumer behavior driven by a challenging macroeconomic environment. These factors led to a comparable sales decline of 3.3% in the fiscal fourth quarter. Last month, Walgreens launched a simple-to-use digital tool that is designed to help customers save money on prescription medications. Rx Savings Finder finds free third-party discount cards, providing patients with a quick and easy way to find lower prices on their Walgreens medications.
Price Performance
In the past six months, WBA shares declined 26.8% compared with the industry’s fall of 2.1%.
Zacks Rank and Key Picks
Walgreens currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Insulet (PODD - Free Report) and DexCom (DXCM - Free Report) . Haemonetics and DexCom each presently carry a Zacks Rank #2 (Buy), and Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has gained 3.8% in the past year. Earnings estimates for Haemonetics have increased from $3.86 to $3.89 in 2023 and $4.11 to $4.15 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.91 to $1.91 in the past 30 days. Shares of the company have dropped 35.3% in the past year compared with the industry’s decline of 6.9%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.41 to $1.43 in the past 30 days and to $1.44 in the past seven days. Shares of the company have gained 0.1% in the past year against the industry’s decline of 6.2%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.