Operating as the fourth largest specialty pharmacy in the US – Diplomat Pharmacy has announced terms for its IPO on Monday. The company plans to offer 13.3 million shares at a price range of $14-$16.
Diplomat distributes drugs that require coordinated regimens by patients with complex chronic diseases. On top of distributing these drugs, they also provide support services to health systems related to the complexity of administering the treatments. The company has a national distribution network with one main facility and seven regional locations.
In terms of other specialty pharmacies, Diplomat hangs behind the likes of multinational pharmacies like Express Scripts, Walgreens, and CVS Caremark – but they are the largest independent specialty pharmacy in the US.
With a majority of specialty pharmacy revenue coming from government programs including Medicare and Medicaid, can the high cost of these specialty drugs be changed? For example, the high price and extraordinary demand for Gilead’s Sovaldi has prompted calls from insurers and other health care stakeholders for action on the specialty drug pricing model. What is the potential public policy response?
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