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Bedford 2

When asked if any recent or anticipated regulatory changes are poised to impact the distribution of specialty medications, Natalie Bedford, Senior Vice President of US Pharmaceutical Distribution Services at McKesson, had a simple response: “Surely.”

“All kidding aside, the distribution channel is extremely sensitive to both upstream and downstream pressures caused by policy pricing changes,” Bedford explained. “We’re always being informed of and paying close attention to whether there are new or potential policy changes that could impact our upstream and downstream customers.”

Within McKesson, a specialized policy team is tasked with paying close attention to these impacts. Before a change policy is implemented, the company works with manufacturing partners to understand what the impacts may be and what concerns they have, “so we can try to work together to have a solution [and] help minimize those impacts.

 at AXS24, the Asembia Specialty Pharmacy Summit, held April 28 to May 2 in Las Vegas, Nevada. 

Click here for more of our coverage from AXS24.

Videos

The market is sensitive to both upstream and downstream pressures that impact drug pricing. 

Specialty Drug Distribution Sensitive to Regulatory Changes: Video

Bedford Specialty 1

In 2022, the financial growth associated with specialty drug products surpassed the growth of traditional drugs, representing a 51% share of total non-discounted drug spend.1 That’s no surprise, given the significant increase in product approvals over the last few decades.

Looking back at the specialty drug market, there were “maybe 10 specialty drugs on the market,” said Natalie Bedford, Senior Vice President of US Pharmaceutical Distribution Services at McKesson. By 2008, that number had reached 200. “Fast forward [to] today, there’s been an exponential growth and explosion of specialty drugs.

The largest growth, Bedford said, has been in the oncology market, a trend she predicts will continue. The reason is twofold: “One, because of existing products in the market that will continue to get additional indications to treat unmet needs,” and two, due to pipeline products coming to market “to treat where there is no medication.”

Neurology is another area where the specialty drug market is poised to expand.

Finally, Bedford touched on the role that precision medicine has played in boosting the pipeline. “Between cell and gene therapy [and] other new modalities, precision medicine is truly driving the need for new medicines to really treat all of these rare diseases,” she said. “There’s a dire need for these specialty drugs for patients.”

1. Biggs S, Long D. Insights into the 2023 US pharmaceutical market. IQVIA. July 25, 2023. Accessed May 6, 2024. 

https://www.iqvia.com/locations/united-states/blogs/2023/07/insights-into-the-2023-us-pharmaceutical-market

The specialty drug market has exploded, and will continue to grow across sectors such as oncology and neurology. 

Specialty Drug Market Continues Upward Growth Trend

Specialty Pharmacy

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