UPDATE 2-Pharmacies set policies to stop U.S. hoarding of potential coronavirus treatments

(Reuters) – CVS Health said on Wednesday its pharmacy benefit management (PBM) unit was working to set up measures against the hoarding of malaria drug hydroxychloroquine, which is being tested as a potential treatment for the coronavirus.

The company would work with its clients, which include employers and health insurers, to set an appropriate limit on the use of the drug for potential use in COVID-19 patients.

Hydroxychloroquine has been in short supply since U.S. President Donald Trump last week touted the malaria drug, tried with some success against the new coronavirus, which led to a spike in demand amid the fast-spreading outbreak, according to pharmacists.

CVS’ move would help patients with chronic conditions get access to the drug, which is also used to treat lupus and rheumatoid arthritis.

The company said it would also set up similar limits on antibiotic azithromycin, a protease inhibitor and albuterol inhalers, amid growing interest in their use on coronavirus patients.

“Our advanced analytics allowed us to quickly identify changes in prescribing patterns and enabled us to take proactive steps to help ensure the integrity of the supply chain,” said Alan Lotvin, president of the company’s PBM unit.

Reporting by Manas Mishra in Bengaluru, Editing by Saumyadeb Chakrabarty and Shinjini Ganguli