Bank of America just raised its EUR/USD forecast
Investing.com -- Vertex Pharmaceuticals Inc (NASDAQ:VRTX).’s newly approved non-opioid pain medication, Journavx, has been included in UnitedHealth Group Inc (NYSE:UNH).’s coverage, according to Bloomberg News. However, the drug has been assigned to a costlier tier compared to other pain treatments on UnitedHealth’s approved drug lists.
Journavx received approval in the US in January. The commercial success of new medications often hinges on their classification by pharmacy benefits managers, who decide patient coverage.
UnitedHealth’s Optum Rx drug plan division has placed Journavx on tier 3 of its approved drug lists, also known as formularies, for commercial plans. This information comes from a recent update to the formulary. The tier 3 designation is typically given to "non-preferred" brand drugs. These are often drugs that have cheaper alternatives that receive more favorable treatment on companies’ drug plans.
This classification means Journavx will be covered, but it will likely cost patients more than drugs on tiers 1 or 2. These lower tiers are usually reserved for low-cost generics or preferred brand drugs. The decision to place Journavx on tier 3 applies to the Optum Rx Premium and Select formularies for commercial plans.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.