Prime Therapeutics names Manmohan Mahajan chief financial officer

Manmohan Mahajan, formerly of the healthcare and pharmacy organization Walgreens Boots Alliance, will lead Prime Therapeutics' finance team, succeeding Ken Bodmer.

Mahajan has been named chief financial officer (CFO) of Prime Therapeutics, effective immediately, the pharmacy benefit manager (PBM) announced in a news release today. He succeeds Ken Bodmer, who is stepping into a part-time advisory role after leading Prime's finance team since 2023.

Prime, headquartered in Eagan, Minnesota, is a pharmacy benefit manager owned by 19 Blue Cross Blue Shield health plans. Mahajan will join the leadership team of Mostafa Kamal, Prime's president and chief executive officer (CEO). He takes on the CFO role as the company works to manage rising drug costs and pharmacy challenges for its health plan clients.

Mahajan joins Prime after a decade at Walgreens Boots Alliance, where he most recently served as executive vice president and global CFO. In that role, he led large-scale financial transformation work, including capital structure changes, cost discipline initiatives and organizational simplification, according to the release. He joined Walgreens in 2016 and moved up through senior finance roles, including vice president and assistant global controller and later interim global controller, before being named interim global CFO in 2023. Walgreens was taken private last year in a deal valued at up to $23.7 billion when Sycamore Partners acquired the company, according to Walgreens.

“Manmohan brings deep healthcare and pharmacy experience, along with a proven ability to lead large, complex organizations through transformation and growth,” Kamal said in the release. “At a time when pharmacy care is becoming increasingly complex, Prime's mission-aligned model uniquely positions us to help improve affordability, simplify the experience for members and achieve better health outcomes. Manmohan's leadership and perspective will help us continue delivering on that commitment while executing our strategy with discipline and focus.”

Mahajan shared in the release that he’s looking forward to being part of a company and culture “that is committed to making healthcare more affordable and accessible.”

Bodmer joined Prime as CFO in late 2023, bringing more than 20 years of PBM and specialty pharmacy experience, according to Prime's 2023 announcement of his hire.

Mahajan's arrival comes as Prime continues to push cost-management initiatives across its business. For example, in March, the company said its IntegratedRx program had saved $100 million over four years. The program keeps specialty pharmacy services inside health systems instead of routing prescriptions to outside central-fill pharmacies, and it has lowered total medical costs for patients with cancer and cystic fibrosis, according to a report by Managed Healthcare Executive (MHE).

Prime has also been expanding partnerships aimed at drug affordability. In 2025, it rolled out Sempre Health's pricing model nationwide after a three-year pilot with Blue Cross Blue Shield of North Carolina generated $4.7 million in member savings, according to Fierce Healthcare. The model uses behavioral economics, such as automatic discounts and refill reminders, to help patients stay on chronic medications.

Additionally, Prime is in the forefront of emerging areas in specialty and oncology spending. At the Academy of Managed Care Pharmacy (AMCP) Annual Meeting earlier this year, Prime pharmacists highlighted precision medicine, liquid biopsy and CAR T-cell therapy as cost drivers that health plans need to weigh against long-term clinical value rather than upfront price alone, according to another MHE report.

“I want to thank Ken for his significant contributions, steady leadership and enterprise partnership during an important period for Prime, and I'm pleased that we will continue to benefit from his expertise and experience in advancing our strategic priorities,” Kamal concluded in the release.