Diplomat Pharmacy, Inc. operates as an independent specialty pharmacy in the United States. The company stocks, dispenses, and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. It also provides specialty infusion pharmacy, patient care coordination, clinical, compliance and persistency program, patient financial assistance, specialty pharmacy training/consulting, benefits investigation, prior authorization, risk evaluation and medication strategy, retail specialty, and hub services, as well as clinical and administrative support services to hospitals and health systems. The company's primary focus is on medication management programs for individuals with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialized infusion therapy, and various other serious or long-term conditions. Diplomat Pharmacy, Inc. has 16 pharmacy locations in Arizona, California, Connecticut, Florida, Illinois, Iowa, Maryland, Massachusetts, Michigan, Minnesota, North Carolina, Ohio, and Pennsylvania. The company was founded in 1975 and is headquartered in Flint, Michigan.
Abrupt leadership shakeout at Diplomat Pharma hammers stock Shares of Diplomat Pharmacy are tumbling on news that the company's president and also its chief financial officer will be out before the end of the year. The specialty pharmacy said Tuesday that President Gary Kadlec will retire in December. He will be replaced by company executive Paul Urick next month. Sean Whelan will step down as CFO and director on Dec. 31. Mizuho analyst Ann Hynes says that the abrupt executive shakeup just a week before the company releases third-quarter earnings is "worrisome." Diplomat Pharmacy Inc., based in Flint, Michigan, runs medication management programs for complex, chronic conditions like cancer, hepatitis and multiple sclerosis. Company shares are down more than 6 percent to $27 before the opening bell.
