Jim DuCharme named one of the top 100 people to know in the Twin Cities
Twin Cities Business Magazine recognizes DuCharme for his efforts to rein in drug prices and his role in creating a transformative alliance with Walgreens.
This year, Prime’s President and CEO Jim DuCharme was listed among the publication’s “TCB 100: People to Know in 2017” as a top “influencer” in Minnesota for his efforts to lower prescription drug prices and his leadership in forming a strategic alliance with Walgreens.
Reining in drug prices
With prescription drug prices skyrocketing, DuCharme is on a mission to make health care more affordable and “apply the brakes to this runaway freight train of rising drug costs.”
The answer? “Aligning the cost control expertise of the trusted Blue + Prime model with Walgreens supply chain capabilities and sending a message that we are on board with finding a solution to the issue,” DuCharme says.
Forming a powerful, strategic alliance
In August, Prime announced it would form a strategic alliance with Walgreens that positions Prime to become a top 3 pharmacy benefit manager (PBM). The alliance includes a new retail pharmacy network agreement and the combination of both companies’ specialty pharmacies and mail service businesses. DuCharme describes the alliance as a marriage based on shared values, trust and commitment to growing together. “We believe that the care, value and commitment that we will deliver together will create benefits to our clients and members,” DuCharme says.
In the first five years, the long-term retail agreement is expected to provide Prime’s clients up to $4.8 billion in retail savings. Described by pharmaceutical expert Dr. Adam Fein as “highly innovative,” the alliance is one that “could reshape the PBM and pharmacy industries.”
About Prime Therapeutics
Prime Therapeutics LLC (Prime) helps people get the medicine they need to feel better and live well. Prime manages pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid. The company processes claims and delivers medicine to members, offering clinical services for people with complex medical conditions. Headquartered in St. Paul, Minn., Prime serves just over 22 million people. It is collectively owned by 14 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Prime has been recognized as one of the fastest-growing private companies in the nation.
Follow @Prime_PBM on Twitter.