CHARLOTTE, N.C.--(BUSINESS WIRE)--
ProvideGx, LLC, a consolidated subsidiary of Premier Inc. (NASDAQ: PINC)
and a healthcare improvement company developing a more stable and
reliable supply chain for generic drugs in short supply, is
collaborating with Fresenius Kabi to help mitigate national shortages of
injectable thiamine, lidocaine, diphenhydramine, hydromorphone and
morphine sulfate.
Fresenius Kabi, a 2018 recipient of the Food and Drug Administration’s
(FDA’s) Drug Shortage Assistance Award, is a global healthcare company
that is a leading developer, manufacturer and supplier of injectable
medicines used in hospitals and clinics to treat patients with critical
and chronic conditions.
“Premier’s strategies to address drug shortages are already bearing
fruit and showing demonstrable success in our ongoing efforts to
permanently address this important issue,” said Premier’s President,
Michael J. Alkire. “Fresenius Kabi is a quality manufacturer and the
second supplier that we have collaborated with to aggregate demand and
help create a predictable supply. Our flexible approach is designed to
help provide additional sources of shortage drugs.”
After a period of decline, drug shortages in America increased
significantly in 2018, with an estimated 124 drugs currently at risk or
not readily available for U.S. hospitals, according to the FDA’s drug
shortage list. With wide-ranging effects on patient care, drug shortages
can add time and expense as providers search for therapeutic
alternatives and manage supplies, potentially delaying certain elective
hospital procedures.
“Fresenius Kabi works closely with the FDA Office of Drug Shortages to
help mitigate shortages and has a long-standing relationship with
Premier. We are pleased to work with Premier and ProvideGx on this
important initiative for providers and patients,” said John Ducker,
President and CEO of Fresenius Kabi USA. “Collaboration by each party
within the supply chain of care is essential to solving the issue of
drug shortages in America for all healthcare providers and patients.”
Fully funded by Premier, ProvideGx
is charged with identifying safe, high-quality supply sources for drugs
that are or may be on the national drug shortage list. ProvideGx is the
next step in Premier’s ongoing effort to help facilitate the
availability of hundreds of high-quality products, including drugs for
which there may be supply challenges. Through the subsidiary, Premier is
working with a robust pipeline of manufacturers to identify sources of
product supply, and to explore and implement solutions to address
specific market needs.
Thiamine is a nutritional supplement used to treat or prevent vitamin B1
deficiency. Diphenhydramine is an antihistamine used to treat
life-threatening allergic reactions. Lidocaine, hydromorphone and
morphine sulfate are analgesics administered under the supervision of a
healthcare provider during surgeries, traumas, burns and other invasive
procedures.
Guided by Premier’s member health systems and its National Pharmacy
Committee, representing more than 1,000 hospitals across the nation,
ProvideGx seeks to introduce additional drugs from a target list of more
than 60 shortage products in months to come, beginning with sterile
generic injectables.
The financial terms of Premier’s agreement with Fresenius Kabi were not
disclosed. Revenues from this agreement are not expected to materially
impact Premier FY 2019 results. The products included in this agreement,
which have been subject to shortages, will be available for purchase by
any health system or healthcare provider at competitive price points.
Forward-Looking Statements
Matters discussed in this release that are not statements of historical
or current facts, are “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements may involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements
of Premier to be materially different from historical results or from
any future results or projections expressed or implied by such
forward-looking statements. Accordingly, readers should not place undue
reliance on any forward-looking statements. In addition to statements
that explicitly describe such risks and uncertainties, readers are urged
to consider statements in the conditional or future tenses or that
include terms such as “believes,” “belief,” “expects,” “estimates,”
“intends,” “anticipates” or “plans” to be uncertain and forward-looking.
Forward-looking statements may include comments as to Premier’s beliefs
and expectations as to future events and trends affecting its business
and are necessarily subject to uncertainties, many of which are outside
Premier’s control. More information on potential factors that could
affect Premier’s financial results is included from time to time in the
“Forward-Looking Statements,” “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of Premier’s periodic and current filings with the
SEC and available on Premier’s website at investors.premierinc.com.
Forward-looking statements speak only as of the date they are made.
Premier undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise that occur after that date.
About Premier Inc.
Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company,
uniting an alliance of more than 4,000 U.S. hospitals and health systems
and approximately 165,000 other providers and organizations to transform
healthcare. With integrated data and analytics, collaboratives, supply
chain solutions, and consulting and other services, Premier enables
better care and outcomes at a lower cost. Premier plays a critical role
in the rapidly evolving healthcare industry, collaborating with members
to co-develop long-term innovations that reinvent and improve the way
care is delivered to patients nationwide. Headquartered in Charlotte,
N.C., Premier is passionate about transforming American healthcare.
Please visit Premier’s news and investor sites on www.premierinc.com;
as well as Twitter,
Facebook,
LinkedIn,
Instagram
and Premier’s
blog for more information about the company.
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Amanda Forster
Premier Inc.
Amanda_Forster@PremierInc.com
202.879.8004
Source: Premier Inc.