Pfizer launches new telehealth and prescription drug platform

Pfizer (PFE) is in focus as the pharmaceutical giant launches its own telehealth and prescription platforms, marking its foray into the direct-to-consumer market. This comes after competitor Eli Lilly (LLY) made a similar move back in January.

Yahoo Finance senior health reporter Anjalee Khemlani breaks down the details, discussing the partnerships the company will utilize and how it will improve consumer access to prescription drugs and vaccines.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Angel Smith

Video Transcript

All right, let's get to our final trending take here.

And that is Pfizer, the latest pharmaceutical giant to break into the telehealth market following the lead of its rival Eli Lily, which launched a similar plan back in January.

Here is the latest on this.

We got our very own angel can on what do we need to know?

Yeah.

So basically, you've got these two farm companies saying we want to remove the H for access to their drug, especially some of the easier stuff for P they're launching a new platform to help patients get access to vaccines are the vaccines as well as the migraine meds.

And that's an important one because that is where the two Lily and, and Pfizer are going to be competing.

Now, what's interesting about this is that they're not hosting anything on their own.

Pfizer is launching in partnership with a number of existing partners.

So they are going to basically link up with Zoc Doc.

It's a popular, you know, appointment booking platform.

Meanwhile, they're also using the retail pharmacy CV S and Walgreens in order to get access to the drugs.

The direct part of it comes where they're trying to help remove the hurdle.

So for migraine patients in particular, it can take some time to get an appointment and then get access to the drugs.

Same is true when you're in need of say, packs a little bit for COVID or getting to those vaccines in time.

So they're doing a lot to help create an easier access pathway lily as well as doing this.

Now, the sort of immediate thought processes while they're cutting out PB MS and they're cutting out sort of these middle men in the health ecosystem.

But both companies have told Yahoo Finance that that is not in fact the goal.

And if you do look at the way that they're set up, they are in fact not cutting out those individuals that make up the broader health ecosystem, but instead are really looking at ways to enhance access to them.

One key difference as well is that pfizer is partnering in addition with Instacart and Amazon to get those delivery, those products delivered faster.

And that includes stuff that is not Pfizer products.

So that's uh you know, a COVID-19 test, an at home test or over the counter medicines as well.

So it it seems like they are trying to add to what has become an out of pocket ecosystem in some ways, right?

With cost kind of hitting patients pockets uh for these telehealth visits and the like.

So some of them are and this is why it's so con convoluted.

I'm so sorry that I couldn't break it out any easier.

But the telehealth platforms themselves are not all covered by insurance.

So some of those are out of pocket and some of those will be covered.

So it's a very mixed bag picture in terms of what isn't, isn't covered and what patients will have access to.

It's extremely mixed bag.

I mean, I was, I was reading this at my desk earlier before we came on the show and I had about as many facial reactions as kombucha girl sitting here trying to figure out what the So what of this is?

I mean, for investors trying to figure out how much of the D to C element is really going to bring consumers specifically into engagement with Pfizer and what this does in terms of rattling some of the relationships that Pfizer already has.

Like what, what is the largest priority of this?

What I find interesting about this is that they aren't measuring this as a profit maker, right?

Both companies have explicitly said so well, they are looking for a brand recognition in a time in a place where we know that patients want more trust, right?

You're thinking about it, it could be, it could be a brand booster for them.

In addition, we've seen success with this kind of platform good.

R for example, right?

One of the companies that already offers this kind of pathway to medicines, you click in you text you say this is what I think my problem is and a doctor will just prescribe you something.

And so this is similarly the way that it's going and, and both companies have said that this is not a way to specifically boost their own products.

But we know of course it will because that is a pathway that they're coming in.

Another little interesting tidbit pfizer is gonna be using targeted ads on social media.

I don't know that Lilia.

So this is, I know, I know you have more questions.

Go.

No, it's ok.

It's ok. Our producers are telling me we're running short of time.

It is fascinating though.

I know it is.

It is.

And I think that was a really good way to kind of wrap up the investor angle of this, that potentially it leads to brand awareness, maybe that leads to more market share, maybe that shows up in earning several years down the line even if it's not today.

And also, of course, it's complicated.

It's health care.

If, if it was easy, then there wouldn't be policy debates about it for the last century or so.

So, really appreciate you breaking it down for us on Jim and thanks for joining us on that.