formulary

noun for·mu·lary \ ˈfȯr-myə-ˌler-ē \

|Updated on: 14 Aug 2018

Definition of formulary

plural formularies

1 : a collection of prescribed forms (such as oaths or prayers)

2 : formula 1

3 : a book listing medicinal substances and formulas

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formulary

adjective

Recent Examples of formulary from the Web

Instead, those medications would be covered by the Part D program, where private companies compete to offer insurance plans and negotiate more aggressively on formularies and pricing.

— stephanie armour, WSJ, "Trump’s Plan to Lower Drug Prices: A Q&A," 11 May 2018
Treatments that have competition may deliver the biggest rebates because pharmaceutical companies are jockeying to have their medicines included in formularies.

— tom murphy, USA TODAY, "Prescription drug costs: Insurers look to pass price breaks straight to the consumer," 14 Apr. 2018
Treatments that have competition may deliver the biggest rebates because pharmaceutical companies are jockeying to have their medicines included in formularies.

— Washington Post, "Insurers look to pass drug price breaks straight to consumer," 11 Apr. 2018
In exchange, Express Scripts will make their drug the only cholesterol-lowering injection available to the 25 million patients on its formulary, freezing out a rival therapy from Amgen.

— damian garde, STAT, "Saddled with sluggish sales, Regeneron and Sanofi slash the cost of cholesterol-lowering drug," 1 May 2018
PBMs decide which drugs are listed on a formulary, how much pharmacies are reimbursed and how much insurers pay.

— the editorial board, WSJ, "Why CVS Loves ObamaCare," 29 May 2018
John Leppard of Washington Analysis, which tracks the pharmaceutical industry for investors, believes the Trump administration might also consider changing Medicare Part B pricing and Medicaid formularies.

— erin mershon, STAT, "Trump often goes off script. What does that mean for his drug pricing speech?," 7 May 2018
The budget suggests: Allowing up to five states to join together to negotiate drug prices directly with manufacturers and to set up their own drug formularies.

— Washington Post, "The Health 202: Trump's budget shows he is serious about tackling the opioid crisis," 13 Feb. 2018
While the government pays sticker price for drugs under the Part B program, the Part D program allows insurers and pharmacy benefit managers to negotiate formularies.

— sarah jane tribble, Washington Post, "Trump’s Budget Proposal Swings At Drug Prices With A Glancing Blow," 12 Feb. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'formulary.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of formulary

1541

in the meaning defined at sense 1

See Words from the same year

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Medical Dictionary

formulary

noun for·mu·lary \ ˈfȯr-myə-ˌler-ē \

medical Definition of formulary

plural formularies

1 : a book containing a list of medicinal substances and formulas — see national formulary

2 : an official list of generic and brand name pharmaceutical drugs designated by a health insurance provider as approved for coverage under the provider's pharmacy plan benefits