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DEERFIELD, Ill. — Walgreens has inked a new distribution deal with Valeant Pharmaceuticals International Inc. under which Valeant will cut prices of its branded prescription dermatological and ophthalmological products at Walgreens by 10%.
The discounts will apply to wholesale list prices and be phased in over the next six to nine months. The agreement also covers Valeant’s over-the-counter products.
The 20-year pact also covers participating independent pharmacies. It is designed to create a more efficient model to help lower costs while ensuring patients have convenient access to prescription products. Patients with commercial insurance can benefit from lower out-of-pocket costs, such as reduced co-pays — set to be as low as zero for some products initially — and the program will provide convenient access for patients who lack coverage.
Walgreens and Valeant also entered into a separate agreement under which Valeant will distribute more than 30 branded products — where generics are available — in the dermatology, ophthalmology, gastrointestinal and neurology/other therapeutic areas through Walgreens at generic prices. The discounts, which will be available beginning the second half of 2016, are expected to range from 5% to 95%.
