Walgreens (WBA) New Study Shows Medical Adherence Importance
Walgreens Boots Alliance, Inc. WBA division Walgreens and AllianceRx Walgreens Pharmacy recently conducted a retrospective cohort study assessing the use of non-infused biologics in patients diagnosed with rheumatoid arthritis (RA). The research findings highlight the importance of patients remaining adherent to their therapy.
According to the study, individuals taking their non-infused RA biologic treatment as prescribed are more likely to experience fewer medical expenses, a lower risk of hospitalization and a shorter stay (LOS).
An autoimmune and inflammatory condition known as rheumatoid arthritis occurs when the immune system mistakenly assaults healthy cells, leading to inflammation (painful swelling), which most frequently affects the hands, wrists, and knees.
Study Details
For the study, researchers consulted the MarketScan Commercial Claims and Encounters and Supplemental or Coordination of Benefits databases from 2019 to 2020. They looked at three different annual outcomes for each patient, the total cost of care, any hospitalizations during the year, and the total length of stay (LOS) for each hospitalization episode.
The proportion of days covered (PDC) for non-infused biologic drugs to treat RA is a helpful reporting metric promoted by the Pharmacy Quality Alliance (PQA). The PDC-RA metric is used. The study aimed to find statistically significant relationships between this PQA PDC adherence parameter and LOS, hospitalizations and overall medical expenditures for RA patients.
Significance of Study Findings
After adjusting for numerous other factors affecting these results, the study demonstrates that adherence to a non-infused RA biologic can result in lower medical expenses, chances of hospitalization, and LOS. The findings also validate the PDC-RA technique for determining adherence rates for reporting requirements.
The likelihood that a patient's disease will improve can be increased by identifying adherence hurdles and teaching patients the value of taking their medication. A specialized chemist can be crucial in helping patients manage their illness, whether by assisting them in taking their prescriptions properly or alerting their prescriber about a new adverse event.
Industry Prospects
Per a report, the global rheumatoid arthritis drugs market size was valued at $60.1 billion in 2021 and is expected to surpass $70.1 billion by 2030, registering a CAGR of 1.75%. The market is projected to grow at a significant rate due to growing cases of rheumatoid arthritis.
Progress within Walgreens Pharmacy Business
In April 2023, Walgreens partnered with the Dublin-based biotech company Prothena Corporation. The collaboration aims to accelerate patient identification and recruitment for Prothena’s ongoing ASCENT-2 multiple ascending dose clinical trial. Through its trusted community pharmacy presence and interactions with patients across the United States, Walgreens expects to play a significant role in helping Prothena with its clinical trial recruitment efforts.
The same month, Walgreens and AllianceRx Walgreens Pharmacy conducted a study assessing the value of a specialty pharmacy order review program, revealing that the program prevented waste for those who received injectable fertility medications, helping to positively impact patient adherence and outcomes. The study findings demonstrated high patient satisfaction and cost savings.
Price Performance
In the past year, WBA shares have declined 34.5% against the industry’s rise of 30.5%.
Zacks Rank and Key Picks
Walgreens Boots Alliance currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA , HealthEquity, Inc. HQY and Integer Holdings Corporation ITGR .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita has gained 18.1% against the industry’s 1.9% decline over the past year.
HealthEquity, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 23.5%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity has lost 3.4% compared with the industry’s 6.7% decline over the past year.
Integer Holdings, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.
Integer Holdings has gained 29.4% compared with the industry’s 3.4% rise over the past year.
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