[丽莎]仅礼来公司的直接药品销售可能不会颠覆该行业，但其他公司可能会效仿

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礼来公司

正在通过一个新网站震撼制药行业，该网站提供远程医疗处方和某些药物的直接送货上门服务，包括其炙手可热的减肥药物 Zepbound，以扩大患者的获取范围。

一些分析师表示，该公司周四宣布的直接面向消费者的举措是大型制药商的首次此类举措，但不一定会单独颠覆制药行业和处方药供应链。

但一些分析师表示，其他制药商可能会效仿，推出自己的直接面向消费者的模式。

这可能会给许多批评者所说的美国复杂的药品分销、定价和处方系统带来更大压力，他们认为这种结构导致了价格上涨和患者选择减少。

BMO 资本市场分析师 Evan Seigerman 告诉 CNBC：“颠覆的可能性总是存在。我认为永远不应该排除任何形式的颠覆。”

“我认为明天不一定会发生这种情况，但我认为你永远不应该认为事情不会改变。”

礼来公司推出新平台之际，其他公司正采取某种方式扰乱药品体系，部分原因是它们面临着削减消费者成本和提高定价透明度的更大政治压力。

这些行动是在立法者在新立法中针对药品供应链中间商以及拜登政府采取自己的措施控制药品价格之际采取的，例如六年来首次赋予医疗保险通过谈判降低药品价格的权力历史。

礼来公司 (Eli Lilly) 表示，其名为 LillyDirect 的新举措旨在增加慢性病药物的获取，包括广受欢迎的减肥药。

这些治疗方法在过去一年中因帮助患者减掉多余的体重而需求猛增，但目前却受到供应限制和对潜在有害仿冒品的担忧的困扰。

塞格曼表示，患者还需要排很长的等候名单才能与肥胖医学专家会面，以便为他们开出药物，这是礼来公司希望解决的问题。

Eli Lilly's Zepbound won Food and Drug Administration approval just two months ago, but some analysts say it could garner more than $1 billion in sales in its first year on the market.

LillyDirect won't significantly disrupt the industry

Eli Lilly's site eliminates the need for a patient to visit the doctor's office to get a prescription and, in some cases, for a pharmacy to fill it.

But some analysts said Eli Lilly's site alone will not significantly threaten the traditional drug distribution system, which involves a multitiered network of manufacturers, drug wholesalers, pharmacies and pharmacy benefit managers, or PBMs.

"I don't think PBMs and the whole infrastructure that we have are going anywhere," Seigerman told CNBC. "I think what [Eli Lilly] really did was identify some friction points in getting these products[weight loss drugs] to patients, and they're coming up with a way to solve for that."

"From my understanding, it's just that there's no retail pharmacy where a patient is having to go hunt for that particular [drug] dose, it's being shipped right to them," he said of Eli Lilly's services.

Eli Lilly's site connects patients with an independent telehealth provider who can prescribe any FDA-approved weight loss drug or other medications for diabetes and migraines. If the prescribed treatment is Eli Lilly's, the patient can have a third-party online pharmacy deliver it to their door.

Patients will also receive Eli Lilly's discounts for drugs if they qualify for the company's savings-card programs, the company noted in a release. One program allows people with insurance coverage for Zepbound, which costs more than $1,000 per month, to pay as little as $25 out-of-pocket. Meanwhile, those whose insurance does not cover the drug may be able to pay as low as $550.

Some experts view that transparent pricing as a shot across the bow to PBMs, the largest of which are owned by CVS, UnitedHealth Group and Cigna.

Drugmakers have long complained that they give PBMs steep drug discounts in exchange for higher placement on a formulary — an insurance plan's list of preferred medications — only for those middlemen to not pass along savings to patients.

But Eli Lilly's savings-card program and new site won't cut PBMs out of the equation.

"If you still use your health insurance to get these drugs through [Eli Lilly's] website, it's still going to get processed by a PBM," Jeff Jonas, a Gabelli Funds portfolio manager, told CNBC.

Patients who get drugs such as Zepbound from Eli Lilly's site can choose to pay with cash to avoid PBMs altogether. But Bernstein analysts said in a Thursday note that they expect the "vast majority" of potential weight loss drug users to get medications through insurance.

Other drugmakers could follow Eli Lilly

更多制药公司可以采用与礼来公司类似的方法。

Cantor Fitzgerald 分析师 Louise Chen 表示，制药商可以从使用直接面向消费者的药房模式销售高销量药品中获益最多。

陈在给 CNBC 的电子邮件中写道：“考虑到你们的努力规模，这对于更大的药物来说可能是有意义的。”

“你会得到更多的回报，并且会接触到更多的人。”

但陈表示，对于制药商来说，采用更小、更专业的药物（例如治疗复杂、慢性或罕见疾病的药物）来追求直接面向消费者的模式可能会更加困难。

例如，某些药物需要专门的给药培训，例如通过静脉注射将治疗药物注射或输注到患者的静脉中。

在其他公司近几个月采取简化系统的行动后，确实采用直接面向消费者的方式的制药商可能会给该国传统药品供应链带来更大的压力。

其中包括

，该公司于 12 月宣布计划彻底改革其处方药定价业务模式，采用类似于亿万富翁马克·库班 (Mark Cuban) 的直接面向消费者的药房 Cost Plus Drugs 的模式。

医疗保健巨头 Cigna 也在 11 月宣布，其 PBM 将提供与 Cuban 的合资企业类似的定价模式。

Cost Plus Drugs 旨在通过以高于成本 15% 的加价加上药房费的方式销售药品，从而大幅降低药品价格。

该公司已经震动了更广泛的医疗保健行业：CVS 在今年夏天遭受了打击，当时加州一家主要健康保险公司 Blue Shield of California 宣布将不再使用该公司作为其 PBM，而是将与其他几家公司合作企业，包括库班公司和亚马逊药房。

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