Part D drug benefit sent Liberty biz soaring in January

Tuesday, February 28, 2006

PORT ST. LUCIE, Fla. - The Medicare prescription drug bill has pumped new life into Liberty Medical's pharmacy business. By late January, less than a month after the new Part D benefit took effect, Liberty reported that it's mail-order pharmacy business had jumped 10 fold to 1,000 orders a day--75% of them from first-time customers. The new Medicare drug benefit took effect Jan. 1. It provides coverage for seniors and makes it less important for them to shop around for the lowest-priced prescriptions, said Stephen Farrell, chief operating officer for PolyMedica, Liberty's parent company, in a press release. Liberty also is pitching drug sales to some of its 862,000 diabetes-supply customers, most of whom are Medicare eligible. The company, one of Port St. Lucie's largest employers, already has hired 200 new employees and added a 25,000-square-foot expansion at its pharmacy on U.S. 1.