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Sunday, May 13, 2018

Getting Off Biopsy Train in Prostate Cancer


Freddie Hamdy, MBChB, a leading prostate cancer researcher and head of urology at University of Oxford, blew my mind when I spoke with him the other day.
He told me we are on the cusp of a revolution in active surveillance (AS) for prostate cancer — one that will in effect “cure” my cancer with a swipe of a pen as cancer will be redefined.
A prostate cancer diagnosis with a low-risk Gleason 6 changed my life in December 2010. My first urologist offered to rush me to the OR. I declined and got a second opinion. Instead, I opted for AS and have been on it ever since.
Over the past seven and a half years, I have had five biopsies. Sixty cores were removed. Only once has a biopsy showed up a tiny 1-mm shred of Gleason 6 cancer.
A urologist friend told me: “When I get my prostate cancer, I want to have what you have.”
That was reassuring, but I have been treated as a cancer patient. I have been disqualified for life insurance. And I have been on a treadmill of PSA tests, biopsies andmultiparametric MRIs.
Hamdy said a “sea change” is coming in who is diagnosed with prostate cancer and who is considered a candidate for AS. (More on that in a minute.)
I met Hamdy in February 2017 at the American Society of Clinical Oncology’s Genitourinary Cancers Symposium in Orlando. Hamdy and I sat next to each other on the stage filled with other leading lights in prostate cancer research.
I was the first patient ever to be a panelist at the meeting. I was going to congratulate ASCO for its wisdom. But it turned out that I was the forgotten man on the dais. As the session was ending, with minutes to spare, I grabbed the microphone and criticized my hosts. I told the doctors this was an example of how they don’t listen to their patients.
wrote about this snub earlier in my MedPage Today series, after which I heard from a lot of readers, many of them my fellow prostate cancer patients.
One new acquaintance is Thrainn Thorvaldsson, a veteran AS patient with a Gleason 7, who started what may be the first support group anywhere focused on AS patients. I joked that maybe we should organize an international meeting of the world’s experts on AS and gather the first international audience of patients on AS from North America and Europe and beyond. He had a similar suggestion from a group of AS patients from the Prostate Cancer Research Institute’s meeting in Los Angeles. Great minds and all that.
Thus was born Active Surveillance Patients International, or ASPI, a non-profit to educate patients about AS. We have a draft website at ASPIconference.com, where interested patients and potential partners can find out about the conference scheduled for October 2019.
I suggested Hamdy, head of the ProtecT study and other major studies, as a speaker.
Thrainn and I, along with Mark Lichty, another AS patient from the Poconos in Pennsylvania, called Hamdy to discuss our program. The urologist agreed to speak — we contacted him so far in advance, he couldn’t think of a reason to say no — and said our timing was good. But he suggested that we we ought to refocus our program because AS is about to change dramatically.
“Over the next few years, Gleason 6s are going to be diagnosed less and less probably, if people follow the paradigm shift,” he said.
He told us that increasing use of multiparametric MRIs will lead to fewer blind biopsies and more targeted biopsies in patients with visible lesions.
“Men who don’t have anything visible are probably going to be biopsied less and less. That is going to result into quite a dramatic reduction in the number of Gleason 6s,” he said.
I asked what this might mean to patients like me. Hamdy knew my medical history from the ASCO meeting.
Hamdy said: “If you don’t mind me saying, but people like you probably will not have that diagnosis label applied to them at all. And they won’t need to go through all the extensive biopsy regimes that you had.”
Hallelujah. Maybe my colleagues and I on the AS assembly line helped future patients.
I imagine this redefining moment will be an adjustment for doctors and patients alike. Hamdy maintains that research justifies this step.
He thinks the AS population will decline as the number of Gleason 6 patients shrinks and will include more patients with Gleason 7, a diagnosis that long has struck terror in the hearts of many doctors and patients. Thanks to research like Hamdy’s, doctors are starting to understand which Gleason 7 patients can go slow with AS and which need aggressive treatment.
He suggested that we broaden ASPI’s target market to include Gleason 7 patients with “intermediate risk.” “If you really want to benefit other men and bring that awareness, I think you should probably go along these lines,” he told us.
He said his data shows that, surprisingly, some Gleason 7 cases have not progressed at 10-year average follow-up from diagnosis. “When most physicians see Gleason 7, they freak out and they say, ‘Oh no, no, no, no. Let’s jump for treatment.’ I think the indications for active surveillance can be stretched, can be extended. But the more you extend them, the more risk you’re taking. And it’s a balance of risks at the end of the day,” he said.
“To be honest, if you’re going to have a conference which is only going to discuss what do you do with a low-volume, low-risk and very low-risk Gleason 6, you don’t need to have a conference because there is pretty much a consensus that these patients should be first on active surveillance. But I think if you’re going to expand into whether we can stretch the indication for active surveillance and can patients make informed choices, I think you really are going to do a lot of good to at least have people start to think that there are options beyond jumping straight into radical treatments.”
We are adjusting our program.

Advanced Cancer Screening Eyed at American Urological Assn. Meet

Advances in precision medicine, particularly in tests that help identify aggressive cases of prostate cancer, will be in the spotlight at the upcoming American Urological Association (AUA) 2018 Annual Meeting.
"Precision medicine — guided by genomics, proteomics, microbiomics, and advances in imaging — is the real focus of many of the abstracts," said Manoj Monga, MD, from the Cleveland Clinic, who is AUA secretary.
For example, multiple presentations will examine the use of multiparametric MRI in prostate cancer. In addition to revealing anatomy, MRI reveals information about metabolism, water diffusion, and perfusion, which allows physicians to more accurately characterize the cancer, he told Medscape Medical News.
"Traditionally, clinicians have not employed radiologic imaging until after a biopsy," said Aria Olumi, MD, from Massachusetts General Hospital, who is chair of the AUA research council. "That landscape is changing with MRI."
 
One study, from researchers at Johns Hopkins in Baltimore, will examine the percentage of prostate cancer patients on active surveillance who could have avoided biopsy if multiparametric MRI was combined with the Prostate Health Index to predict their prostate cancer grade reclassification.
In another study, researchers from centers in Japan and the United States look at the negative predictive value of multiparametric MRI.
Traditionally, clinicians have not employed radiologic imaging until after a biopsy. That landscape is changing with MRI.
Results from a multicenter study will look at whether a protein biomarker, measured with the IsoPSA assay, can distinguish between high- and low-grade cancers.
With the increase in the availability of genomic tests, precision medicine has become more common in the treatment of prostate cancer, as well as in diagnostic and predictive techniques.
A chart review of patients who have undergone multiple genomic assays compares three genomic tests — Decipher, Prolaris, and OncotypeDX — and looks at recommendations for active surveillance from National Comprehensive Cancer Network guidelines.
These advances are not only in prostate cancer, some also apply to bladder cancer and kidney cancer.
For example, treatments for nonmuscle invasive bladder cancer will receive attention at the meeting. "There are new chemotherapy agents and new immunotherapy agents that have shown promise," Olumi told Medscape Medical News.
Among these is VB4-845 (Vicinium, Eleven Biotherapeutics), a recombinant fusion protein produced in Escherichia coli. The agent binds to the epithelial cell adhesion molecule antigen on the surface of carcinoma cells, where it is internalized and induces cell death by blocking protein synthesis, according to the company. Results from a phase 3 study will be presented during a late-breaking abstract session.
 
Another is CG0070 (Cold Genesys), an oncolytic adenovirus that replicates inside tumor cells, causing lysis and immunogenic cell death. The rupture of the cancer cells can release tumor-derived antigens, along with granulocyte-macrophage colony-stimulating factor, which can stimulate a systemic antitumor immune response from the body's own white blood cells, according to the company.
 

Benign Prostatic Hyperplasia and Kidney Stones

But not all studies will focus on cancer.
 
Three-year results will be presented from a study of benign prostatic hyperplasia treated with water vapor thermal therapy (Rezūm, NxThera). This approach uses the condensation of water vapor to release stored thermal energy and denature prostate cell membranes.
 
Results from a study of an image-guided waterjet resection system (AquaBeam, PROCEPT BioRobotics), in which a high-velocity saline stream is used to resect and remove prostate tissue in patients with benign prostatic hyperplasia, will also be presented.
 
"I think we're going to see the second wave of these in-office energy-based instruments being used more," Olumi said.
 
Susceptibility to kidney stones will also be addressed. In addition to genetic factors, the association with potassium in drinking water will be examined in a study from researchers at Stanford University in Palo Alto, California.
 
The opioid epidemic will also be in the spotlight. Evidence-based guidelines for the prescription of opioids after urologic surgery, developed by a team from Rochester, Minnesota, will be presented. And a retrospective comparison of opioids and ketorolac, a nonsteroidal anti-inflammatory drug, in patients with ureteral stones will be presented by researchers from Chapel Hill, North Carolina.
 
Monga and Olumi have disclosed no relevant financial relationships.
https://wb.md/2IiwosG

Early time-restricted feeding improves blood sugar control and blood pressure

A new pilot study conducted by UAB Department of Nutrition Sciences Assistant Professor Courtney Peterson, Ph.D., shows that eating early in the daytime and fasting for the rest of the day improves blood sugar control, blood pressure and oxidative stress, even when people don’t change what they eat.
“We know intermittent fasting improves metabolism and health,” Peterson said. “However, we didn’t know whether these effects are simply because people ate less and lost weight.”
Peterson and her colleagues decided to conduct the first highly controlled study to determine whether the benefits of intermittent fasting are due solely to eating less. The study was also the first to test a form of intermittent fasting called early time-restricted feeding (eTRF) in humans. eTRF involves combining time-restricted feeding -; a form of intermittent fasting wherein people eat in a 10-hour or shorter period each day -; with eating early in the day to be in alignment with the body’s circadian rhythms in metabolism; it is tantamount to eating dinner in the mid-afternoon and then fasting for the rest of the day.
In the study, eight men with prediabetes tried following eTRF and eating at typical American meal times for five weeks each. On the eTRF schedule, the men each started breakfast between 6:30-8:30 each morning, finished eating six hours later, and then fasted for the rest of the day -; about 18 hours. Everyone finished dinner no later than 3 p.m. By contrast, on the typical American schedule, they ate their meals spread across a 12-hour period. The men ate the exact same foods on each schedule, and the researchers carefully monitored the men to make sure they ate at the correct times and ate only the food that the researchers gave them.
Peterson and colleagues found that eTRF improved insulin sensitivity, which reflects how quickly cells can take up blood sugar, and it also improved their pancreases’ ability to respond to rising blood sugar levels. The researchers also found that eTRF dramatically lowered the men’s blood pressure, as well as their oxidative stress levels and their appetite levels in the evening.
Peterson and colleagues’ research is important because it shows for the first time in humans that the benefits of intermittent fasting are not due solely to eating less; practicing intermittent fasting has intrinsic benefits regardless of what you eat. Also, it shows that eating early in the day may be a particularly beneficial form of intermittent fasting. Peterson hopes the research will also raise awareness of the role of the body’s internal biological clock -; called the circadian system -; in health.
“Our data also indicate that our feeding regimen has to be synchronized with the circadian rhythm and our biological clock,” said Eric Ravussin, Ph.D., director of the Nutrition Obesity Research Center at the Pennington Biomedical Research Center.
Ravussin served as a collaborator with Peterson on the study.
“If you eat late at night, it’s bad for your metabolism,” Peterson said. “Our bodies are optimized to do certain things at certain times of the day, and eating in sync with our circadian rhythms seem to improve our health in multiple ways. For instance, our body’s ability to keep our blood sugar under control is better in the morning than it is in the afternoon and evening, so it makes sense to eat most of our food in the morning and early afternoon.”
Peterson notes that her research sheds light on why intermittent fasting approaches that limit eating to the late afternoon and evening may have failed to find any benefits.
These findings could lead to better ways to help prevent Type 2 diabetes and hypertension. In light of these promising results, Peterson says more research is needed on intermittent fasting and meal timing to find out how they affect health and to figure out what types of approaches are achievable for most people.

How the diagnosis of autism has evolved over time

You can draw a straight line from the initial descriptions of many conditions—claustrophobia, for example, or vertigo—to their diagnostic criteria. Not so with autism. Its history has taken a less direct path with several detours, according to Jeffrey Baker, professor of pediatrics and history at Duke University in Durham, North Carolina.
Autism was originally described as a form of childhood schizophrenia and the result of cold parenting, then as a set of related developmental disorders, and finally as a spectrum condition with wide-ranging degrees of impairment. Along with these shifting views, its diagnostic criteria have changed as well.
Here is how the Diagnostic and Statistical Manual of Mental Disorders (DSM), the diagnostic manual used in the United States, has reflected our evolving understanding of autism.
Why was autism initially considered a psychiatric condition?
When Leo Kanner, an Austrian-American psychiatrist and physician, first described autism in 1943, he wrote about children with “extreme autistic aloneness,” “delayed echolalia” and an “anxiously obsessive desire for the maintenance of sameness.” He also noted that the children were often intelligent and some had extraordinary memory.
As a result, Kanner viewed autism as a profound emotional disturbance that does not affect cognition. In keeping with his perspective, the second edition of the DSM, the DSM-II, published in 1952, defined autism as a psychiatric condition—a form of childhood schizophrenia marked by a detachment from reality. During the 1950s and 1960s, autism was thought to be rooted in cold and unemotional mothers, whom Bruno Bettelheim dubbed “refrigerator mothers.”
When was autism recognized as a developmental disorder?
The “refrigerator mother” concept was disproved in the 1960s to 1970s, as a growing body of research showed that autism has biological underpinnings and is rooted in brain development. The DSM-III, published in 1980, established autism as its own separate diagnosis and described it as a “pervasive developmental disorder” distinct from schizophrenia.
Prior versions of the manual left many aspects of the diagnostic process open to clinicians’ observations and interpretations, but the DSM-III listed specific criteria required for a diagnosis. It defined three essential features of autism: a lack of interest in people, severe impairments in communication, and bizarre responses to the environment, all developing in the first 30 months of life.
How long did this definition last?
The DSM-III was revised in 1987, significantly altering the autism criteria. It broadened the concept of autism by adding a diagnosis at the mild end of the spectrum—pervasive developmental disorder-not otherwise specified (PDD-NOS)—and dropping the requirement for onset before 30 months.
Even though the manual did not use the word “spectrum,” the change reflected the growing understanding among researchers that autism is not a single condition but rather a spectrum of conditions that can present throughout life.
The updated manual listed 16 criteria across the three previously established domains, eight of which had to be met for a diagnosis. Adding PDD-NOS allowed clinicians to include children who didn’t fully meet the criteria for autism but still required developmental or behavioral support.
When was autism first presented as a spectrum of conditions?
The DSM-IV, released in 1994 and revised in 2000, was the first edition to categorize autism as a spectrum.
This version listed five conditions with distinct features. In addition to autism and PDD-NOS, it added “Asperger’s disorder,” also at the mild end of the spectrum; “childhood disintegrative disorder (CDD), characterized by severe developmental reversals and regressions; and Rett syndrome, affecting movement and communication, primarily in girls. The breakdown echoed the research hypothesis at the time that autism is rooted in genetics, and that each category would ultimately be linked to a set of specific problems and treatments.
Why did the DSM-5 adopt the idea of a continuous spectrum?
Throughout the 1990s, researchers hoped to identify genes that contribute to autism. After the Human Genome Project was completed in 2003, many studies tried to zero in on a list of ‘autism genes.’ They found hundreds, but could not link any exclusively to autism. It became clear that finding genetic underpinnings and corresponding treatments for the five conditions specified in the DSM-IV wouldn’t be possible. Experts decided it would be best to characterize autism as an all-inclusive diagnosis, ranging from mild to severe.
At the same time, there was growing concern about a lack of consistency in how clinicians in different states and clinics arrived at a diagnosis of autism, Asperger syndrome or PDD-NOS. A spike in autism prevalence in the 2000s suggested that clinicians were sometimes swayed by parents lobbying for a particular diagnosis or influenced by the services available within their state.
To address both concerns, the DSM-5 introduced the term “autism spectrum disorder. This diagnosis is characterized by two groups of features: “persistent impairment in reciprocal social communication and social interaction” and “restricted, repetitive patterns of behavior,” both present in early childhood. Each group includes specific behaviors, a certain number of which clinicians have to identify. The manual eliminated Asperger syndrome, PDD-NOS, and classic autism, but debuted a diagnosis of social communication disorder to include children with only language and social impairments. Childhood disintegrative disorder and Rett syndrome were removed from the autism category.
Why did the DSM-5 spawn so much concern and controversy?
Even before the manual was released in 2013, many people with autism and their caregivers worried about its effect on their lives. Many were concerned that after their diagnosis disappeared from the book, they would lose services or insurance coverage. Those who identified themselves as having Asperger syndrome said the diagnosis gave them a sense of belonging and an explanation for their challenges; they feared that removing the diagnosis was synonymous to losing their identity. And experts disagreed on whether the DSM-5’s more stringent diagnostic criteria would block services for those with milder traits or adequately curb surging prevalence rates.
Five years later, it’s clear the DSM-5 did not cut services for people already diagnosed with an autism spectrum condition. A growing body of evidence, however, shows that its criteria do exclude more people with milder traits, girls and older individuals than the DSM-IV did.
Are there alternatives to the DSM?
Clinicians in many countries, including the United Kingdom, use the International Classification of DiseasesReleased in the 1990s, that manual’s current and 10th edition groups autism, Asperger syndrome, Rett syndrome, CDD and PDD-NOS together in a single “Pervasive Developmental Disorders” section, much as the DSM-IV did.
What does the future look like for diagnosing autism?
Experts continue to view autism as a continuous spectrum of conditions. There are no planned revisions to the DSM for now, but the language in a draft of the ICD-11—which is expected to debut in May 2018—mirrors the DSM-5’s criteria. In the ICD-11, autism criteria move to a new, dedicated “Autism Spectrum Disorder” section.
The ICD-11 differs from the DSM-5 in several key ways. Instead of requiring a set number or combination of features for a diagnosis, it lists identifying features and lets clinicians decide whether an individual’s traits match up. Because the ICD is intended for global use, it also sets broader, less culturally specific criteria than the DSM-5 does. For instance, it puts less emphasis on what games children play than whether they follow or impose strict rules on those games. The ICD-11 also makes a distinction between autism with and without intellectual disability, and highlights the fact that older individuals and women sometimes mask their autism traits.

8 Free Macro and Market Data Sources

I thought I would share some of my favorite free data source on the internet, as I often get questions on where to find such and such or how to calculate this and that.  In truth, for the overwhelming majority of my data I use Thomson Reuters Datastream (which is certainly not free!), partly because of the breadth of data, partly because they have a large amount of data found only on their platform, and partly because my business is a one-man shop so efficiency is key (being able to quickly update models and charts is essential).
So here they are – the top 8 free financial, market and macroeconomic online data sources:
1. The IMF World Economic Outlook Database: What I like about this one is how comprehensive it is in terms of coverage of countries (and regions), and the ease of comparability across indicators, and the fact that most of the variables have forecasts/projections for as much as 5 years out.  It is primarily economics focused, but there are some financial series too.  Usability is good once you get the hang of it (but then again I’ve been using it for about 10 years!).
2. World Bank Open Data: Similar to the IMF database, this one similarly has top marks on broad coverage of countries, it also has very broad coverage of indicators, including numerous World Bank specific statistics e.g. development indicators.  So it’s definitely one worth checking out.  One thing I would note is that similar to the IMF WEO database, most if not all the data is annual.
3. OECD.Stat: The OECD does a great job of compiling data and calculating a number of very useful indicators, including some key financial/investing indicators such as PPP exchange rates and housing market valuation indicators.  The one drawback is that most of their datasets are (unsurprisingly) focused on the OECD economies (mostly developed countries), although they have extended some datasets to the major EM countries.
4. BIS Statistics: The BIS (“central bank of central banks” or Bank for International Settlements) as you might imagine compiles highly central bank relevant data such as derivatives and foreign exchange market data, international banking and flows, and credit, property, and inflation data. Well worth a spot on the macro data source bookmark list.
5. FRED: How could I possibly leave the Federal Reserve Bank of St. Louis economic data portal off the list!  Aside from great coverage of countries and data types it also has handy charting tools to quickly assess the data series and compare/transform.  The FRED database has become a staple of casual data observers and professionals alike.
6. Quandl: Similar to FRED, Quandl aggregates data from multiple sources, is relatively easy to use, and allows downloading of the data.  The one drawback is that it’s not all free, i.e. there are a mix of free data providers and premium data providers which Quandl takes data from – so you will need a budget and a credit card to use this one with free reign.
7. Shiller’s S&P500 data: A staple datasource for many professional market strategists, the highly respected Robert Shiller kindly provides the public service of providing the long history (back to the 1800’s) of the S&P500 (complete with earnings, dividend, CPI, and 10-year bond yield).  I’ve used this dataset more times than I can remember across my career (and across roles and companies!).
8. Investing.com: One of my favorite financial websites, investing.com has a wide range of up to date pricing information for financial markets (stocks, bonds, commodities, currencies, and economic data).  Very easy to use, and great charting tools – it’s probably the one financial website I visit the most.  What I like is that I can quickly search for a market/instrument/indicator and get a quick look at it.  It’s also good for seeing market reactions without needing to log on to a platform and you can access it wherever.

Biotech week ahead, May 13

The iShares NASDAQ Biotechnology Index (ETF) IBB 2.75% saw a modest uptick this week amid a slew of biotech earnings news flow and a deal announced in the space.
Here’s a compilation of key biotech events and catalysts an investor can look forward to in the upcoming week.

Medical, Healthcare and Biotech Conferences

  • 14th EILAT Conference on New Antiepileptic Drugs and Devices: May 13-16, in Madrid, Spain
  • 2018 World Congress on Cell and Structural Biology: May 14-15, in Osaka, Japan
  • 2018 Bank of America Merrill Lynch Healthcare Conference: May 15-17 in Las Vegas, Nevada
  • International Investigative Dermatology 2018 Meeting: May 16-19, in Orlando, Florida
  • American Society of Gene & Cell Therapy, 2018 Annual Meeting: May 16-19 in Chicago, Illinois
  • American Urological Association’s 2018 Annual Meeting: May 18-21, in San Francisco

PDUFA Dates

Thursday, May 17
The FDA is set to rule on the Novartis AG (ADR) NVS 0.79% Amgen, Inc. AMGN 1.83%combine’s BLA for their migraine treatment Aimovig.

Clinical Trial Outcomes

Xenon Pharmaceuticals Inc XENE 0.85% is scheduled to present Phase 1 interim data for its epilepsy treatment XEN1101 at the EILAT conference on Tuesday, May 15.
Voyager Therapeutics Inc VYGR 8.65% will release final Phase 1b data for its advanced Parkinson’s disease treatment VY-AADC01 at the ASGCT on Wednesday, May 16.
Audentes Therapeutics Inc BOLD 1.63% is due to release final Phase 1/2 data for its X-linked Myotubular myopathy treatment AT132 at the ASGCT meeting on Wednesday. The company will also present preliminary Phase 1/2 data on AT342 to treat Crigler-Najjar syndrome treatment at the ASGCT meeting on Thursday, May 17. The syndrome is an inherited disorder that impairs bilirubin metabolism, leading to accumulation of it in blood. Bilirubin is formed when red blood cells are broken down.

RXi Pharmaceuticals Corp RXII 6.25% is set to present Phase 2 data for its dermal scarring treatment RXI-109-1501 on Thursday. RXi will also present Phase 2 data on its cutaneous wart treatment Samcyprone on Friday, May 18.
GTx, Inc. GTXI 0.76% is scheduled to present updated open-label data from the Phase 2 trial of its stress urinary incontinence therapy enobosarm at the AUA on Friday.
Rocket Pharmaceuticals Inc RCKT 0.96% will release updated Phase 1/2 data for its Fanconi anemia treatment at the ASGCT meeting in the form of a poster on Friday.
CELYAD SA/ADR CYAD 2.11% is set to release updated data on CYAD-01, its pipeline candidate for various solid and hematologic cancers, at the ASGCT meeting on Saturday, May 19.
ProQR Therapeutics NV PRQR is scheduled to release Phase 1/2 data on its epidermolysis bullosa treatment candidate QR-313 at the IID meeting on Saturday.

Earnings

Monday, May 14
Tuesday, May 15
Thursday, May 17
  • Vascular Biogenics Ltd VBLT
Friday, May 18

IPO Quiet Period Expirations

Saturday, May 12, 2018

Anthem PBM CEO Brian Griffin leaving after a few months in the role

Brian Griffin, the CEO of Anthem’s new in-house pharmacy benefit manager, IngenioRx, since March is leaving the company to head up Diplomat Pharmacy, a specialty pharmacy services provider.
Griffin’s departure is Anthem’s loss, as he had been seen as a strong pick to head up IngenioRx with his extensive health plan and pharmacy management background. Griffin has held leadership roles at the nation’s largest PBM, Express Scripts, as well as Medco Health Solutions, a PBM that Express Scripts bought in 2012.
Diplomat Pharmacy’s shares soared 15% on the news.
Anthem said it will start searching outside the company to replace Griffin. It also announced that Deepti Jain, chief operating officer of IngenioRx, will lead the PBM in the meantime.
Before becoming CEO of IngenioRx, Griffin was president of Anthem’s commercial and specialty business. He will take over as CEO and chairman at Diplomat starting June 4.
In October, Anthem announced its partnership with CVS Health to establish the new PBM, which will start operating in 2020, when Anthem’s long-disputed contract with PBM Express Scripts ends. Anthem has projected that IngenioRx will save the insurer $4 billion in costs each year.
PBMs are the behind-the-scenes middlemen that handle prescription drug benefits for self-insured employers and health insurers. They process drug claims and negotiate drug discounts with pharmaceutical companies. They also build networks of pharmacies and help manage formularies.
Jain joined Anthem in 2014 as vice president and COO of Anthem’s pharmacy services and later became senior vice president of that segment. Before that, she served as COO of Cigna’s pharmacy business.