Health insurer Highmark inked an outcomes-based contract with AstraZeneca (NYSE:AZN) for Symbicort, the pharmaceutical company’s drug designed to treat asthma and chronic obstructive pulmonary disease.
Highmark said its contract with AstraZeneca is one of the first outcomes-based deals involving a respiratory drug and will apply to commercial members of its national and core markets in Pennsylvania, West Virginia and Delaware.
According to the health insurer, Highmark plans to review certain criteria to determine if asthma or COPD-related symptoms for Highmark patients who are taking Symbicort are similar to clinical trial results provided by the pharma company. If Symbicort does not perform as anticipated, AstraZeneca is slated to pay a corresponding rebate, according to Highmark.
“Highmark is committed to innovative contracting solutions that focus on clinical results and drive patients to products that will encourage better disease management. COPD continues to be one of the top spend therapeutic categories across our membership base,” Ryan Cox, director of specialty pharmacy strategies at Highmark, said in prepared remarks.
“As a leader in innovative, value-based agreements, AstraZeneca recognizes the need to evolve towards a greater focus on value and shared accountability for patient outcomes. We have entered into value-based agreements across our therapeutic areas, and we are proud to stand behind the science of Symbicort in this agreement with Highmark,” Rick Suarez, VP of market access for AstraZeneca U.S., added.