August 19, 2017 11:09 AM ET

Healthcare Providers and Services

Company Overview of OptumRx, Inc.

Company Overview

OptumRx, Inc., a pharmacy benefit management company, manages prescription drug benefits of commercial, Medicare, and other governmental health plans, as well as those of employers and unions in the United States. It operates a network of community pharmacies in the United States, as well as mail service pharmacies in California and Kansas. The company also specializes in the delivery, clinical management, and affordability of prescription medications and consumer health products; and offers specialty pharmacy and mail service, clinical programs, and tools and strategies. In addition, it offers medical supplies to Medicare advantage; and sells medical products online. OptumRx, Inc. was forme...

2300 Main Street

Irvine, CA 92614

United States

Founded in 1989

Phone:

949-442-8081

Fax:

949-474-4586

Key Executives for OptumRx, Inc.

Chief Executive Officer
President
Chief Financial Officer
Age: 46
Chief Operating Officer
Age: 45
Chief Executive Officer of Optum
Age: 63
Compensation as of Fiscal Year 2017.

OptumRx, Inc. Key Developments

OptumRx Announces Executive Changes

UnitedHealth announced that John Prince has moved into the role of CEO of OptumRx. He was most recently chief operating officer and executive vice president of Optum. Former OptumRx CEO Mark Peer has left the post to pursue his own investment interests.

Keller Rohrback L.L.P. Files Class-Action Lawsuit over the Inflated Price of Insulin against Express Scripts, OptumRx and CVS Caremark, Sanofi-Aventis, Novo Nordisk and Eli Lilly

On March 17, 2017, Keller Rohrback L.L.P filed suit against Express Scripts, OptumRx and CVS Caremark and the three major insulin manufacturers, Sanofi-Aventis, Novo Nordisk and Eli Lilly who produce the well-known and widely-prescribed analog insulins: Lantus, Apidra, Levemir, Humalog, and Novolog. The complaint, which was filed in the New Jersey federal district court, alleges that the PBM insurance industry middlemen who negotiate drug prices and create drug formularies that determine how much patients pay conspired with the insulin manufacturers to artificially inflate the price of insulin for their own collective benefit. This profit-seeking move has directly injured individual patients and other purchasers of insulin financially and put the lives of millions of diabetes sufferers at risk. The plaintiffs in Keller Rohrback’s case—Boss v. CVS Health Corp. et al., No. 17-cv-01823 (D.N.J.)—are individuals who purchase insulin for themselves or their children, and the Type 1 Diabetes Defense Foundation. Together these plaintiffs bring a perspective arising from their own personal experiences and the foundation’s organizational purpose. And their case is focused holistically on the problem, the responsible parties, and the breadth of injury to insulin purchasers. Thus, their complaint includes defendant parties not included and/or claims that have not yet been asserted in two other recently filed cases. The artificially high cost of insulin needlessly inflicts physical, emotional, and financial harm on patients and their families. While insulin manufacturers certainly contribute to the problem, they do not act alone. Rather, manufacturers collude with PBMs to raise insulin “list prices”—which the PBMs direct consumers to pay—thus reaping outsized profits from people who need insulin to stay alive. The Insulin Pricing Scheme alleged in plaintiffs complaint explains how PBMs sell exclusionary or preferential access to their formularies in exchange for a cut of rebates and other fees paid by the drug manufacturers to the PBMs. Plaintiffs hired Keller Rohrback not only to make sure the PBMs are held accountable for their role in driving up insulin prices, but also to ensure that all types of plan participants are represented and their claims asserted. Finally, plaintiff’s complaint seeks both monetary and injunctive relief on behalf of the classes. As in two other recently filed insulin cases, plaintiffs are requesting remedies that would refund their overpayments and force defendants to disgorge their ill-gotten gains. Keller Rohrback looks forward to litigating this case and working with the other plaintiffs and their counsel who have filed similar cases to hold all responsible entities accountable and pursue all available claims.

OptumRx and CVS Pharmacy Partner to Expand Consumer Choice, Reducecosts, Improve Health Outcomes

OptumRx and CVS Pharmacy are partnering to provide more convenient choices and lower costs for consumers and clients while improving health outcomes. The strategic relationship will bring together complementary capabilities to provide greater convenience and value. Together, the two companies will offer employers a new pharmacy network solution that: Provides eligible OptumRx members the option to fill 90-day prescriptions at prices equal to home delivery copay levels at CVS locations nationwide or through OptumRx home delivery; Increases consumer engagement and improves health outcomes through the combination of OptumRx's leading pharmacy and clinical solutions with CVS Pharmacy's leading in-store health and wellness capabilities; Enables OptumRx and CVS Pharmacy to leverage a shared pharmacy platform to develop new pharmacy and health solutions for clients and consumers.

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