Ro Extends Its Partnership With Pfizer Inc. (NYSE:PFE) To Provide Affordable Generic Medications To Patient Populations With Hypertension And Cholesterol
Ro extended its alliance with Pfizer Inc. (NYSE:PFE) to serve patients suffering from hypertension and cholesterol in the US. It can get generic medications from Pfizer at reduced rates and pass on the savings to its customers. The extended alliance strengthens the footprint of Ro in telehealth amid the looming threat of Amazon.com, Inc. (NASDAQ:AMZN) Care Rollout.
Pfizer and Ro entered a pact in January 2020 to provide patients of Ro to access FDA approved generic versions of Viagra, which is used to treat ED (Erectile Dysfunction), of Pfizer.
What are the benefits to Ro customers?
With an extended partnership between Ro and Pfizer, Ro’s customers can enjoy affordable generic versions of medications. The generic versions of medications usually cost 80 to 85% lower than branded versions of the same drugs.
The US Healthcare system saves $1.7 trillion
Generic medications helped the US healthcare system save healthcare costs of around $1.7 trillion during 2007 and 2016.
The market for cardiovascular drugs at $92.3 billion
The market for generic drugs to treat patients with cholesterol and blood pressure is huge in the US. According to CDC, 45% of the US adults suffer from hypertension, while 38% of adults are experiencing high cholesterol. Therefore, it offers a huge opportunity for the generic Arm of Pfizer. The demand for cardiovascular drugs worldwide expects to reach $92.3 billion by the year 2026.
Amazon Care to disrupt telehealth
The rollout of Amazon Care expects to shake the in-person and virtual care programs. It poses a threat to established players like Ro and even changes the telehealth sphere. According to a recent announcement, Amazon will expand the program to all of its Washington-based employees.
If Amazon decides to expand the program to more of its employees and the public in the US, it could disrupt the virtual care market. The company expects to target its prime subscribers of 118 million in the US with its Amazon care program.
The e-commerce giant could use its Alexa, HIPAA-eligible voice assistant, to answer the users’ health questions and instruct them to get treatment from Amazon Care affiliated clinicians.