Drug Channels Outlook 2027: Adam’s Final Webinar

Join Adam J. Fein, Ph.D., president of Drug Channels Institute (DCI), for his final video webinar before retiring from DCI:

Drug Channels Outlook 2027

This event will be broadcast live on:
Friday, December 11, 2026
12:00 p.m. to 1:30 p.m. ET

Register Now

Don’t miss this final opportunity to hear Adam’s unfiltered, data-driven outlook on the forces shaping the drug channel—and what they mean for your organization in 2027 and beyond.

He’ll be joined by Antonio Ciaccia of 46brooklyn Research, who will succeed Adam as host and moderator at the 2027 Drug Channels Leadership Forum.

The webinar will also feature Tyler Novotny, DCI’s senior vice president, and Bryce Platt, a director at DCI.

The webinar will be broadcast live from the Drug Channels studio in beautiful downtown Philadelphia. It is part of The Drug Channels 2026 Video Webinar Series.

Jump to:

• What You Will Learn
• Pricing Options
• Important Things To Know

WHAT YOU WILL LEARN

For more than 20 years, Adam has brought you an unfiltered, data-driven look at the most important trends, market forces, and policy developments in the drug channel. In his final webinar before retiring from DCI, he’ll examine where the industry is heading—and what his two decades of tracking its evolution reveal about what comes next. Adam will share his unfiltered outlook on key issues where he has been a pioneering voice, including:

• Consolidation, vertical integration, and industry power

• The 340B Drug Pricing Program and the 340Boom

• Accumulators, maximizers, and shady alternative funding programs

• The Gross-to-Net Bubble and SpongeBob SquarePants

• The Net Pricing Drug Channel (#NPDC)

Antonio, Tyler, and Bryce will also explore:

• PBM reform: Real change or more of the same?

• What new CMS and DOL rules mean for plan sponsors and the PBM business

• The Inflation Reduction Act’s impact on Medicare Part B and Part D

• The future of pharmacy profits and reimbursement

• Patient-paid prescriptions and direct-to-patient disruption

• The November elections’ impact on the drug channel

• What’s ahead for most favored nation pricing

• Biosimilars and the buy-and-bill market

• Wholesalers’ next growth opportunities

As always, the speakers will clearly distinguish their opinions and interpretations from the objective facts and data.

This 90-minute video webinar will include a dedicated Q&A session, during which attendees can unmute and engage directly with Adam and the other speakers.

Can’t attend the live event? After each event, every registrant will receive an email with information on how to view a replay of the video recording. Every registrant will also be able to download a PDF of the full slide deck.

Register Now

PRICING OPTIONS

Register for $420 per viewing device. Within one business day of registering, you'll receive a unique Zoom access link and details for adding the event to your calendar.

Special Team Discounts

We offer substantial savings when an organization purchases multiple registrations. An unlimited number of attendees can watch together at a single physical location using one registered device.

Important Reminder: Each viewing device must have its own registration. Attendees may not record the webinar or broadcast its audio or video to other devices or locations.

Register now. All discounts will be automatically calculated based on the number of registrations you enter in your cart.

Drug Channels Outlook 2027

Questions about corporate pricing? Please contact Marie Caldwell (mcaldwell@hmpglobal.com).

Purchasing access for multiple devices or locations? We’ll contact you for your participant list. Alternatively, download this spreadsheet and email your registrants’ information to dcisupport@hmpglobal.com.

We accept all major credit cards. Prefer to pay by check or ACH? Click here to request an invoice.

IMPORTANT THINGS TO KNOW

• Watch and listen using any modern browser on a computer, tablet, or mobile device. (No telephone access.)

• Each registrant will receive an email with a link to watch the event. This link is unique to the registrant and is valid for one registered viewing device.

• Every registrant will also receive a link to download the complete slide deck.

• This event is part of The Drug Channels 2026 Video Webinar Series. If you already purchased access to the series, you should already have received an email from Zoom with a link to access the December 11, 2026, event.

• Organizations that purchased corporate access to The Drug Channels 2026 Video Webinar Series will receive a custom, branded signup link so employees can easily register. We will automatically refund payments from anyone at a company with corporate access who purchases a single registration using their corporate email address.

• Each registration for a DCI webinar is valid for a single device at a single physical location. Attendees are not permitted to record, stream, share, or project a DCI webinar to other sites or locations. Purchasers who violate this limitation by recording, streaming, sharing, or projecting a DCI webinar to other sites, devices, or locations will be liable for the full cost of all locations that viewed the webinar. DCI reserves the right to prohibit purchasers who violate our terms from attending future DCI webinars.

• Except for the corporate-access refunds described above, we are unable to offer refunds.

Biopharma’s AI Fork in the Road

Today's guest post comes from Danny Sigurdson, Founder and CEO at Courier Health.

Danny examines how biopharma companies are approaching patient services, partner changes, and artificial intelligence in 2027. He argues that connected data and purpose-built technology can improve operational efficiency, accelerate access to therapy, and enhance the patient experience.

To learn more, download Courier Health's whitepaper: Patient Experience Innovation in 2027: Lessons from the 3rd Annual Patient Innovators Summit.

Read on for Danny's insights.

"How Do I Know I'm Not Just Giving Money Away?" The Question Every Market Access Leader Is Asking

Today's guest post comes from Anurati Mathur, Co-Founder & CEO at Sempre Health.

Drawing on conversations with pharmaceutical market access leaders, Anurati examines whether traditional copay assistance programs are delivering sufficient value. She argues that automatic point-of-sale discounts often subsidize prescriptions that patients would have filled anyway. She makes the case for a more targeted, data-driven approach that aligns affordability spending with patient behavior to improve adherence and gross-to-net (GTN) performance.

To learn more about Sempre Health’s approach to patient affordability, visit Sempre Health..

Read on for Anurati's insights.

Drug Channels News Roundup, October 2026: Part D’s Hidden Cost Sharing Gap, 340B’s $244 Billion Footprint, The Net Price Rebate Model, Cigna’s Wholesale Push, and Four Ways to Bag a Drug

By Bryce Platt, PharmD

Fall has brought a fresh round of questions about how drug channel economics affect patients, plans, and providers.

Take a break between your work sets to catch up on some quality resources for understanding the drug channel.

In this issue:

• Part D's Hidden Cost Sharing Gap

• 340B's $244 Billion Footprint

• The Net Price Rebate Model

• Cigna's Wholesale Push

Extra: Four Ways to Bag a Drug

P.S. Join my nearly 46,000 LinkedIn followers for daily posts on the drug channel at 9 AM Eastern.

NOW AVAILABLE: The 2026-27 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors

View the report and purchase options

Copay + GTN Revenue Protection = Better Together

Today's guest post comes from Gerard Rivera, Co-Founder & CEO at RIS Rx.

Gerard Rivera examines how copay programs and real-time gross-to-net (GTN) revenue protection can work together to support patient access and program performance. He highlights how simpler program design, timely data, and responsive action can help manufacturers manage affordability programs while preserving patient experience.

To learn more about RIS Rx's gross-to-net (GTN) revenue protection solution, get a custom GTN assessment from RIS Rx.

Read on for Gerard's insights.

Alternative PBM Satisfaction Declined in 2026, Shrinking the Advantage Over the Big Three PBMs

By Bryce Platt, PharmD

PBMs outside the Big Three still earn higher customer satisfaction ratings, but their lead has nearly disappeared.

Meanwhile, plan sponsors are inviting alternatives into their RFPs, and some are changing vendors. Research on 2027 benefits planning suggests the shopping will continue.

That combination points to a new test for alternative PBMs—one where they have to turn their pitch into value that plan sponsors continue to see after they sign a contract.

Below we examine the shrinking satisfaction advantage, the choices plan sponsors are considering for 2027, and why the grass may not always be greener on the alternative PBM side.

Drug Channels Leadership Forum 2027

The Drug Channels Leadership Forum agenda is now available! Explore the agenda and request your invitation to this invite-only gathering of senior leaders from across the drug channel ecosystem. You must request an invitation to be considered for attendance.

Informa's Trade and Channel Strategies

December 8-10, 2026, W Philadelphia
Exclusive Offer—Use promo 26DC10 to save 10%*

NAVIGATE THE CONVERGENCE: PREPARE, DON'T PREDICT

In the next eighteen months, every assumption of pharmaceutical channel strategy breaks all at once. The patent cliff, WAC reductions, loss of exclusivity, medical benefit shifts and cash and self-pay emergence have left trade and channel professionals in need of complete strategy rebuilds.

You need to prepare, not predict and Trade and Channel Strategies is built to deliver just that.

The pharmaceutical channel is being rewritten in real-time. Leaders who attend will gain the insights needed to navigate these changes while competitors are left playing catch-up. In these times, falling behind means losing your competitive edge.

What can you expect?

The event features a stellar lineup of industry leaders, including Bill Roth of IntegriChain, who will deliver the keynote address, The Convergence—When Pharma’s Channel Assumptions All Break at Once. Other notable speakers include:

• Rena Goins, Executive Director, Global Trade, Regeneron
• Susan Farkas, Executive Director, US Payers & Specialty Pharmacy, AstraZeneca
• Mike Petit, Director, U.S. Channel Accounts, Intercept Pharmaceuticals
• Martine Avello, Director, Channel and Distribution, BioMarin Pharmaceutical Inc
• Thomas Scalone, Director, Trade Strategy and Operations, Bristol Myers Squibb

Program highlights:

• A Look From Wall Street: Dealmaker insights on M&A and vertical integration trends over the next 12–24 months
• Trade Partner Insights: Direct feedback from trade partners on supply chain friction and operational challenges impacting the industry
• Leveraging Technology: Discover how AI, digital tools and analytics are transforming trade strategies, specifically in pricing optimization, payer engagement and channel management
• Tracks, Trainings and More: Focused content on supply chain, pharmacy models and health systems and pharma partnering, as well as a negotiation training and Women in Trade networking session

What attendees are saying:

“Most valuable conference of the year to understand pharmacy and distribution related topics. There is no second.”

“One of the best conferences I have ever attended. The speaker selection and topic covered from a strategic and tactical approach were extremely relevant to our business.”

Exclusive Offer – Download the agenda and register today–Use your exclusive promo 26DC10 to save 10%*

*Cannot be combined with other offers, promotions or applied to existing registration. Other restrictions may apply.

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The content of Sponsored Posts does not necessarily reflect the views of HMP Omnimedia, LLC, Drug Channels Institute, its parent company, or any of its employees. To find out how you can publish an event post on Drug Channels, please contact Marie Caldwell (mcaldwell@hmpglobal.com).

10 Crucial Trends Facing U.S. Drug Wholesalers in 2026 and Beyond

By Adam J. Fein, Ph.D.

As regular readers of Drug Channels know, U.S. distribution and dispensing channels for prescription drugs are undergoing significant evolution and consolidation as the changing economics of pharmaceuticals challenge conventional business models.

During this period of volatility, the core business model of the Big Three public pharmaceutical distribution companies—Cardinal Health, Cencora, and McKesson—remains intact. Put simply: Buy low, sell high, collect early, and pay late.

But as I explain below, wholesalers continue to position themselves as essential intermediaries by expanding their role across the drug channel and strengthening their economic fundamentals.

Read on for 10 key pricing, pharmacy, provider, and manufacturer trends that are driving the U.S. drug wholesaling industry.

For even more, check out DCI's new 2026-27 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors, the seventeenth edition of our deep dive into wholesale distribution channels. Click here to download a free report overview (including key industry trends, the table of contents, and a list of exhibits)

NOW AVAILABLE: DCI’s New 2026-27 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors

Drug Channels Institute is pleased to announce the availability of our 2026-27 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors.

The U.S. prescription drug market continues to expand, even as the foundations of the drug channel are shifting. Legislative intervention, pricing realignment, vertical integration, and alternative payment models are accelerating a transition away from a rebate-driven system built on high list prices and toward a marketplace increasingly shaped by net prices.

DCI’s seventeenth annual report examines what these changes mean for the pharmaceutical wholesalers and specialty distributors at the center of the U.S. drug channel. With nine chapters, more than 430 pages, 193 exhibits, and more than 940 endnotes, this report is unmatched in scope and depth.

Order today to download the fully updated, revised, and expanded 2026-27 edition at special launch prices. Special launch prices will be available through October 26, 2026. Act now to maximize your savings.

Download a free report overview
(Industry Trends, What's New, Table of Contents, List of Exhibits)

Review pricing and license options and download now

You can pay online with all major credit cards. Contact us if you prefer to pay by corporate check or ACH.

The chart below highlights the vertical alignment and diverse roles of Cencora, Cardinal Health, and McKesson within the U.S. healthcare system. The circled numbers identify the report chapters that explain and analyze each business.

[Click to enlarge]

The new edition provides the most current financial and industry data about pharmaceutical distribution. Among the major findings and expanded areas of coverage:

• Drug distribution revenues for the Big Three public wholesalers are projected to reach $933 billion in 2026, although revenue growth has slowed from double-digit to mid-single-digit rates.

• The largest wholesalers have invested more than $20 billion in physician management services organizations, transforming their roles in buy-and-bill markets.

• Changes in drug pricing, direct-to-patient models, and other emerging channels are accelerating the industry’s transition toward a Net Pricing Drug Channel.

• The report examines the evolving economics of biosimilars, cell and gene therapies, the 340B Drug Pricing Program, and implementation of the Inflation Reduction Act.

• DCI’s proprietary economic models reveal differences in the business strategies, market positions, financial performance, and underlying profitability of Cencora, Cardinal Health, and McKesson.

There are 193 exhibits in the 2026-27 edition, compared with 187 in last year’s report. Most are new or fully updated.

See pages 9 and 10 of the free report overview for full details about the notable new material in the 2026-27 edition.

Thank you for your continued interest in our research. Please email us (dcisupport@hmpglobal.com) with any questions before purchasing. We look forward to helping you succeed in the evolving U.S. drug channel.

Transparency is No Longer a Compliance Issue

Today's guest post comes from Meghal Patel, Chief Product Officer for Truzo at Model N.

Meghal examines why claims-level transparency has become increasingly important as manufacturers navigate the growing complexity of 340B and other drug pricing programs. He argues that greater visibility into pricing, discounts, and utilization can help manufacturers move beyond compliance to improve gross-to-net (GTN) management, revenue forecasting, and strategic decision-making.

To learn more, watch the webinar: From Program Silos to GTN Transparency: A Unified View with Model N + Truzo.

Read on for Meghal's insights.

The IRA Fixed One Medicare Part D Distortion—But Patients Now Face New Tradeoffs (rerun)

This week, we're rerunning some popular posts while we put the finishing touches on DCI’s 2026-27 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors.

Click here to see the original post from June 2026.

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By Bryce Platt, PharmD

For years, Medicare Part D plans often preferred high-list/high-rebate branded multiple sclerosis (MS) drugs over lower-cost generics. That was rational behavior inside an irrational system.

The Inflation Reduction Act (IRA) offers one example of how incentives can change behavior in the system. New research in JAMA Health Forum reveals a significant reversal in Medicare Part D formulary coverage for MS drugs. After years of plans favoring brand-name drugs over generics, 2025 formularies shifted to near-universal generic coverage.

However, in return patients got narrower formularies, higher upfront costs, and way more taxpayer dollars spent than expected.

While this wasn’t the case for all drug classes, in MS, the IRA Part D redesign has forced plans to care more about net drug spending. Below, we analyze the formulary data and explain why the coverage patterns changed so abruptly—and what new tradeoffs have emerged.

2025 Gross-to-Net Realities at Eight Top Drugmakers: The Net Pricing Drug Channel Emerges (rerun)

This week, we're rerunning some popular posts while we put the finishing touches on DCI’s 2026-27 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors.

Click here to see the original post from July 2026.

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By Adam J. Fein, Ph.D.

Every year, Drug Channels reviews drug pricing trends at the largest pharmaceutical manufacturers. This year's disclosures provide early evidence that the economics of the U.S. drug channel—and the strategies manufacturers use to secure market access—are beginning to change.

We review the following eight companies: Bristol Myers Squibb, Eli Lilly and Company, Genentech, GlaxoSmithKline, Sanofi, Takeda, Teva, and UCB. You can find links to each company’s data in the appendix.

Our review found:

• Brand-name drug list prices continued to rise modestly, while mandatory and voluntary rebates, discounts, and fees reduced net prices at seven of the eight manufacturers.

• The average gross-to-net price difference was –5.5%, reflecting an average list price increase of 3.7% and an average net price decline of 1.8%.

• For the three manufacturers that disclosed these data, rebates, discounts, and other fees reduced the selling prices of brand-name drugs to less than half of their list prices.

Sanofi's latest and historical disclosures provide one of the clearest illustrations yet of the drug channel's changing economics. Since 2020, the company's estimated U.S. biopharmaceutical sales have grown far faster than rebate payments. As a result, the share of its gross sales returned to payers as rebates declined from 51% to 39%.

Taken together, this year's manufacturer disclosures suggest that the gross-to-net bubble is growing more slowly—and even deflating in parts of the market. Meanwhile, the Net Pricing Drug Channel (NPDC) is becoming visible in manufacturers’ pricing disclosures and financial statements.