Walmart will compete with Walgreens and CVS and assist pharma companies in recruiting individuals for clinical trials.
Highlights:
In a move that pits it against rivals Walgreens (WBA.O) and CVS Health Group (CVS.N), Walmart (WMT.N) announced that it would start assisting pharmaceutical companies and research organizations in finding and recruiting people to participate in their clinical trials.
- Recruiting participants for clinical studies is often challenging due to the paucity of sufficient participants. Studies get postponed or halted as a result
- Walmart will host a patient portal that will enable users to identify future research trials and participate in them
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‘Walmart will compete with Walgreens and CVS and help pharmaceutical companies recruit people for clinical trials.’
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Walmart Offers Clinical Trial Services
In addition to hosting MyHealthJourney, a patient portal that enables users to identify future research trials and keep track of their care, Walmart Healthcare Research Institute, the nation’s largest retailer’s new healthcare research service, will find volunteers for clinical trials.Walmart’s foray into clinical trial recruitment may open new avenues for pharma companies to pay it.
Walmart’s chief medical officer, John Wigneswaran, stated that the company’s pharmacies and clinics will serve as a ‘funnel’ for healthcare groups seeking access to its varied client base for potential trials and research.
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Patient Recruitment for Clinical Studies
In clinical studies, recruiting participants is challenging. Studies may be postponed or halted when researchers are unable to recruit sufficient participants, or when trial participants withdraw.Due to a lack of awareness of trials and access to facilities, senior individuals, rural communities, women, and people of color are frequently excluded from clinical research in the United States.
According to a press statement from the company, Walmart is presently collaborating with Laina Enterprises, a virtual clinical trial administration platform.
Competitor Walgreens announced in June that it has started offering clinical trial services to broaden the diversity of test subjects. According to a spokeswoman, Walgreens is in discussions with several top pharmaceutical companies to support patient recruitment, virtual or hybrid clinical trials and diversity programs.
Research on African American HIV patients was conducted by Walgreens and the University of North Texas Health Science Center beginning in 2018, according to a database of American clinical trials.
Walmart has previously stated that it wants to put more attention into its high-margin industries, such as healthcare, finance and advertising.
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Walgreens and CVS Clinical Trials
“Walgreens is making a push to utilize their stores to reach their more diverse population in their clinical trials, so it seems feasible that that’s something that Walmart may eventually want to do as well,” said Carri Chan, a professor at Columbia Business School.In 2019, Walmart added Walmart Health stores in Dallas and Georgia, bringing its total to 24, which also includes establishments in Illinois, Florida and Arkansas. Walmart said in September that it would collaborate with UnitedHealth Group to offer telehealth services to people of all ages and preventative healthcare to geriatric populations.
Clinical trials were first made available by CVS Health in 2021. According to Tony Clapsis, general manager of CVS Health Clinical Trial Services, most of the expenses are covered by pharmaceutical firms; however, Medicare, Medicaid or a private health insurance plan may also cover some expenses.
According to its website, CVS has subsequently performed studies to monitor the formation of COVID-19 variations while working under contract with the U.S. Department of Health and Human Services.
Additionally, it is collaborating with Pfizer to enrol 600 people in research to ascertain the long-term effects of COVID-19 and is working on a flu study.
Source-Medindia
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