Drug Channels Outlook 2026: Live Webinar with Adam J. Fein, Ph.D., on PBMs, Part D, DTC Strategies, Drug Policy Trends, and More

2026 is shaping up to be another transformative year for the U.S. drug channel. Join Adam J. Fein, Ph.D.—president of Drug Channels Institute (DCI) and author of Drug Channels—for his exclusive live video webinar:

Drug Channels Outlook 2026
Live Broadcast:
Friday, December 12, 2025
12:00 p.m. to 1:30 p.m. ET

Register Now

Gain the latest data, forecasts, and policy insights to plan confidently for the year ahead. Our Outlook webinars are trusted annually by thousands of industry leaders for data-driven market insight. This 90-minute online event—part of The Drug Channels 2025 Video Webinar Series—streams live from the Drug Channels studio in beautiful downtown Philadelphia.

Jump to: What You Will Learn  •  Pricing Options  •  Important Things To Know

---

What You’ll Learn

Start the new year with clarity and confidence. Dr. Fein—one of the industry’s most trusted voices—will share an essential briefing on the trends, market forces, and policy developments that will shape the U.S. drug channel in 2026 and beyond.

• Market & Policy Outlook: GLP-1 disruption; expectations for Medicare Part D; first-year implications of Medicare’s MFP implementation
• PBMs & Payers: Profit model evolution, transparency pressures, and the future of discount cards, TrumpRx, and direct-to-patient strategies
• Industry Integration: The evolving biosimilar market, wholesaler influence, and vertical integration trends for patient- and provider-administered drugs
• Regulatory & Legislative Changes: The future of the 340B Drug Pricing Program and state/federal PBM oversight

And much more!

As always, Dr. Fein will clearly distinguish objective facts and data from his interpretations. This 90-minute video webinar will include a dedicated Q&A session, where attendees can unmute and engage directly with Dr. Fein.

Reserve Your Spot

Read on for pricing, group discounts, and other details.

---

Hubs, AI, and the New Era of Revenue Protection in Patient Access

Today’s guest post comes from Steve Randall, Chief Technology Architect at ConnectiveRx.

Steve examines how artificial intelligence (AI) is reshaping the role of patient support hubs in the specialty drug ecosystem. As policy, payer, and gross-to-net pressures mount, he argues that the hub model must evolve from a service function into a revenue-protection strategy—one that uses “embedded AI” to enhance, not replace, human judgment.

To learn more, download ConnectiveRx’s free eBook: 8 Questions Patient Access Leaders Should Ask About AI—But Aren’t. 

Read on for Steve’s insights.

As Pharma Faces Financial Pressure, Pharmacy Delivers Measurable Impact

Today’s guest post comes from Lara Loveman, VP of Pharma Solutions at Outcomes.

Lara discusses how shifting market forces and evolving reimbursement models are reshaping pharmaceutical marketing strategies. She suggests that pharmacist-led interventions—particularly in chronic disease management—can both protect pharmaceutical investment and drive better health outcomes.

Click here to learn about Outcomes’ pharmacist-led interventions solution.

Read on for Lara’s insights.

Cigna’s Rebate-Free Pharmacy Model: Three Realities Behind Its Latest Push to Pop the Gross-to-Net Bubble

On Monday, Cigna announced that it would be abandoning traditional manufacturer rebates and moving to a new, “rebate-free” approach—essentially a point-of-sale (POS) rebate model paired with a cost-plus pharmacy reimbursement framework. Here’s the press release.

Moving manufacturers’ rebates and discounts to the point of dispensing is a big win for patients, who can share in the savings that pharmacy benefit managers (PBMs) negotiate with drugmakers. It's a practical, patient-friendly step toward shrinking the gross-to-net bubble that has inflated out-of-pocket costs for years.

Yet as always, the fine print matters. Below are three crucial considerations that reveal why this move might be less revolutionary than it first appears—and why it may not be widely adopted by plan sponsors. Perhaps these will spark some questions for Cigna's management about the company's increasingly opaque profit model during tomorrow’s third-quarter earning call.

This isn’t the first time that Express Scripts has tried to alter how its plan sponsors manage their pharmacy benefits. After reading the analysis below, you can decide whether this latest attempt is true reform—or the triumph of hope over experience.

Drug Channels News Roundup, October 2025: Vertical Integration Woes, AFPs Gone Wild, Part D’s Decline, 340Bloat, and Dr. G’s ACIP Haunting

Eeek! It’s time for the Drug Channels Halloween roundup of terrifying tales from the dark corners of the healthcare system. Gather your favorite demon hunters and help maintain the Honmoon. This month’s tricks and treats include:

• Vampiric! How vertically integrated insurers can drain the lifeblood from the U.S. healthcare system

• Boo! Chilling stories of the shady alternate funding programs that haunt patients

• Creepy! Why the Part D market is headed for an early grave

• Grotesque! The monstrous expansion of 340B

Plus: Dr. Glaucomflecken returns from the underworld to summon the ACIP séance.

P.S. Join the ever-growing zombie horde that lurches after me and enjoy haunting commentary from the restless spirits of the DCI community.

Express Scripts’ new “rebate-free pharmacy benefit” model materialized too late for this month’s roundup. But I ain’t afraid of no rebates, so I’ll be bustin’ it soon on Drug Channels.

Let’s Be DIRECT: We Have an Access and Affordability Problem to Solve

Today’s guest post comes from Mark Thierer, Chief Executive Officer of EVERSANA.

Mark explains how combining direct-to-patient and direct-to-payer strategies can improve transparency, streamline access, and better align key stakeholders. He introduces EVERSANA DIRECT, the company’s new approach to market access.

To learn more, visit eversana.com/DIRECT.

Read on for Mark’s insights.

The Future of Buy-and-Bill Market Access: Five Drivers of Wholesalers’ Vertical Integration with Physician Practices

Vertical integration continues to reshape U.S. healthcare, as detailed in DCI’s new 2025-26 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors.

Our latest analysis shows how the Big Three companies—Cencora, Cardinal Health, and McKesson—are extending their reach far beyond drug distribution, building influence throughout the drug channel.

In recent years, these companies have spent more than $16 billion to acquire management service organizations (MSOs) that oversee physician practices in such specialties as gastroenterology, oncology, ophthalmology, and urology.

Below, we highlight the largest MSO transactions and explore five ways wholesalers benefit from ownership in their downstream physician customers. Ultimately, these strategies may allow wholesalers to exert unprecedented control over market access for provider-administered drugs—if they can figure out how to realize this power.

Today’s post is adapted from Section 6.3.2. in DCIs 2025-26 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors. Special launch pricing discounts are available through October 27, 2025.

Informa Connect’s Trade and Channel Strategies

Informa Connect’s Trade and Channel Strategies
December 9-11, 2025 | W Philadelphia
Exclusive Offer—Use promo 25DC10 to save 10%*

The stakes have never been higher. With seismic shifts in distribution models, health policy and market access strategies, falling behind on critical trends could mean losing your competitive edge. If you’re a trade, channel, market access or brand professional, Informa Connect’s Trade and Channel Strategies is your must-attend event to stay ahead of the curve.

Why attend?
Informa Connect’s Trade and Channel Strategies celebrates two decades of excellence—Experts will explore the evolution of the landscape, unravel its complexities and showcase innovative pharmacy and distribution models shaped by shifting market dynamics. Walk away with actionable strategies to tackle the latest industry challenges.

Why now?
The US marketplace is in upheaval, with disruptions at both the pharmacy counter and across the supply chain. Policy changes, market fluctuations and new entrants, like GLP-1 therapies are reshaping the landscape. Traditional models are being replaced by innovative alternatives, leaving companies struggling to adapt. This conference offers critical insights into these changes and equips you to thrive in this evolving environment.

What can you expect?
The event features a stellar lineup of industry leaders, including Bill Roth of IntegriChain, who will deliver the keynote address, Navigating Disruption in Today’s Trade and Channel Marketplace. Other notable speakers include:

• Christine Hummel, US Head, Trade & Channel Management, Sanofi
• Ramita Tandon, Chief Biopharma Officer, Walgreens
• Peter A. Arakelian, Head of Channel & Oncology Enterprise Accounts, EMD Serono
• Martine Avello, Director, Channel and Distribution, BioMarin Pharmaceutical Inc
• Thomas Scalone, Director, Trade Strategy and Operations, Bristol Myers Squibb
• Stephanie Wirkes, Head of Distribution and Strategy Execution, Bayer
• And more!

Program highlights:

• Navigate Regulatory Changes: Stay on top of DSCSA serialization, IRA impacts and PBM reforms that are reshaping the industry
• Master Distribution Models: Explore the direct-to-patient revolution, limited distribution networks and innovative cold chain solutions for specialty pharmaceuticals
• Optimize Market Access: Learn strategies to balance GTN optimization, payer negotiations and patient affordability
• Leverage Technology: Discover how AI, digital tools and analytics are transforming trade strategies

What attendees are saying:
“For those of us responsible for navigating and developing specific strategy around this ever-changing marketplace in distribution channel management, this was a bullseye.”
“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 25DC10 to save 10%*

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

---

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 Paula Fein (paula@DrugChannels.net).

Why Site of Care Is the Hidden Barrier in Neurology’s Bright Pipeline

Today’s guest post comes from from Chad Zerangue, Founder of InfuseFlow and Senior Director, Enterprise Provider Sales at CareMetx.

Chad explains how barriers to access for infused therapies—including site-of-care changes and financial clearance delays—often cause patients to disengage before receiving the first dose. He shares one patient’s story illustrating the need for a strong patient services partner with coordinated systems and digital handoffs.

To learn more, download CareMetx’s latest guide: Don’t Risk Your Launch in the First 120 Days.

Read on for Chad’s insights.

NOW AVAILABLE: The 2025–26 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors

I am pleased to announce Drug Channels Institute’s new 2025-26 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors, available for purchase and immediate download.

• Download a free 25-page report overview—including key industry trends, “What's New,” Table of Contents, and List of Exhibits

• Review pricing/license options and download the full 2025-26 report

Special launch pricing is available through October 27, 2025.

This report—our sixteenth edition—remains the most comprehensive, data-driven resource for understanding and analyzing the large and growing U.S. pharmaceutical distribution industry.

With 9 chapters, more than 400 pages, 187 exhibits, and over 850 endnotes, this report is unmatched in scope and depth. There’s simply no other resource like it.

Order today to secure your copy of this fully updated, revised, and expanded 2025-26 edition at special discounted prices.

You can pay online with all major credit cards (Visa, MasterCard, American Express, and Discover). Click here to contact us if you prefer to pay by corporate check or ACH.

INSIDE THE 2025-26 REPORT

The 2025-26 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors remains the most comprehensive, fact-based tool for understanding and analyzing the large and growing U.S. pharmaceutical distribution industry. Widely regarded as the industry standard, this encyclopedic resource offers a definitive guide to wholesale distribution’s role in the complex web of U.S. prescription drug channels.

The chart below illustrates the vertical integration and broad reach of the three largest companies in U.S. pharmaceutical distribution. The numbers in the chart correspond to the report chapter that explains and analyzes the specific business segment.

[Click to Enlarge]

WHAT’S INSIDE AND WHAT’S NEW

• The most current financial and industry data on pharmaceutical distribution and the major companies. See pages 9 and 10 of the free report overview for details on the notable new material in this latest edition.

• Updated analyses of strategies, market positions, and executive compensation for the Big Three—Cencora, Cardinal Health, and McKesson. We review each company’s business segments and underlying business profitability, based upon our proprietary economic models. This allows you to assess differences among the public companies’ organizational structure and financial performance.

• Self-contained chapters that do not need to be read in order. (Really!) There are loads of internal hyperlinks to help you navigate the document and customize it to your specific interests and priorities.

• The option to download an additional PowerPoint file with images of all 178 exhibits. This popular option helps you share the insights and data with others in your organization. (The exhibits appear within the text for all license versions.)

• 760 (!) endnotes, most of which have direct hyperlinks to original source materials for deeper learning.

• No SpongeBob Squarepants, corny jokes, or pop culture references, all of which have been reluctantly removed.

Thank you for your continued interest in our research. Please email me (afein@drugchannels.net) with any questions before purchasing.

We look forward to sharing this year’s insights with you.

Informa Connect’s Pharma/Biotech GTN Summit

Informa Connect’s Pharma/Biotech GTN Summit
November 18-20, 2025 | The Bellevue Hotel, Philadelphia, PA, USA

Exclusive Discount For Readers:
Use promo code 25DGCH15 for 15% off* your registration.

Download the agenda here
Reserve your spot here

Informa Connect's Pharma/Biotech GTN Summit returns on November 18-20, 2025, in Philadelphia, PA, bringing together hundreds of senior finance, gross-to-net and accounting professionals from across the life sciences industry to tackle the complexities of gross-to-net management.

This year’s CPE-accredited event will deliver cutting-edge insights, proven methodologies, and practical tools to optimize gross-to-net processes and enhance forecasting accuracy. With a sharp focus on policy updates, technology integration,and cross-functional collaboration, the agenda will help you keep pace with the fast-evolving US life sciences landscape and its unique complexities, providing the ultimate forum for model-sharing, benchmarking best practices and inspiring innovation within your team.

Featured Thought Leaders Include:

• Brett Nussbaum, Director of Gross to Net Accounting, Novartis
• Trevor Ackerman, VP, Global Tax, Amneal Pharmaceuticals
• Chris Rocco, Head of US Market Access Data, Reporting and Analytics, GSK
• Prakash Chainani, VP - Finance, HR & IT, Lifestar Pharma LLC (a Mankind Group Company)
• Bal Ram Chopra, Senior VP, Finance, US Operations, Indivior
• Rosalind Davis, Director, Government Pricing and Contracts, CSL Vifor
• Timothy Kocses, Executive Director, US Commercial Controller, Bristol Myers Squibb
• Dominic Fatigati, Finance Director, Market Access, US Oncology, AstraZeneca
• James Engel, Controller, Finance, Collegium Pharmaceuticals
• Rohit Gupta, Senior Director, Commercial Finance, Crinetics
• Darpan Jhaveri, Senior Director - US Revenue and Inventory Accounting, Insmed Incorporated
• Robert Lucchesi, Director, FP&A Sales Reporting & Forecasting, Novo Nordisk
• Ranish Singhvi, VP, Finance, Accord Healthcare
• Eric Kimelblatt, Head of Market Access, Trade/Distribution, Patient Services, Stallergenes Greer
• Kinneret Klein, Executive Director, Commercial Financial Planning & Analysis, Biocryst
• Ryan Coelho, Director, Net Revenue Management, Zoetis
• Felecia Manning, Senior Director, Managed Markets Pricing & Government Programs, United Therapeutics Corporation
• Edward McAdam, Director, Government Pricing, Contracting Operations & Analytics, Indivior
• Chad Nagel, Senior Director, Revenue Accounting, Nuvalent
• Matthew Pellegrini, Sr. Director - Revenue Optimization Contracting & Compliance N.A., Teva Pharmaceuticals
• Shirley Rong, Pricing & Channel Forecasting Lead, UCB

See why the GTN Summit remains the top choice for your peers.

PLUS! Save 15%* when you reserve your place today using the VIP code 25DGCH15.

*Offer exclusively for life sciences manufacturers only. Offer applies to the current rate and maybe not be applied to existing registrations; additional terms may apply, see website for full details.

---

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 Paula Fein (paula@DrugChannels.net).

Direct-to-Patient 2.0: Why Today’s DTP Programs Can’t Scale—and What Pharma Must Do Next

Today’s guest post comes from Deepak Thomas, Founder and CEO of PHIL.

Deepak explores how demographic shifts and digital expectations are reshaping patient engagement. He argues that to stay competitive, pharmaceutical manufacturers must adopt integrated direct-to-patient (DTP) platforms that streamline access, support insurance coverage, and deliver sustainable commercial impact.

Click here to learn more about PHIL Direct, PHIL’s integrated DTP solution.

Read on for Deepak’s insights.