Strategic partnership brings a new source of supply to providers,
innovating to alleviate the two-year shortage of metoprolol injection
CHARLOTTE, N.C.--(BUSINESS WIRE)--
ProvideGx, LLC, a subsidiary of Premier Inc. (NASDAQ: PINC), a
healthcare improvement company developing a more stable and reliable
supply chain for generic drugs in short supply, is collaborating with
Baxter Healthcare Corporation to make additional generic drugs available
for purchase through Premier’s group purchasing organization.
Drug shortages have been on the rise for several years, with an
estimated 210 drugs currently at risk or not readily available for U.S.
hospitals, according to the national database maintained by the American
Society of Health System Pharmacists (ASHP). 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 surgeries.
“Our agreement with Baxter is the latest milestone in Premier’s
long-standing, multi-year role in working to eliminate drug shortages,”
said Michael J. Alkire, Chief Operating Officer at Premier. “Premier is
committed to aggregating provider demand for products and creating a
predictable sales channel for suppliers. This agreement allows Premier
to work with Baxter on mitigating shortages that have plagued the market
for years, marking the 92nd shortage product by the National Drug Code
that we can now supply on a reliable basis.”
Premier and Baxter are collaborating to supply metoprolol injection, a
life-saving blood pressure medication often used to treat patients
experiencing hypertensive emergencies, such as heart attacks. Baxter is
adding metoprolol injection to its growing portfolio of generic
medicines that are essential to hospital care. Metoprolol, which has
been subject to shortages since 2016, will be available for purchase by
any health system or healthcare provider at competitive price points.
Fully funded by Premier, ProvideGx is charged with identifying safe,
high-quality supply sources for drugs on the national drug shortage
list. ProvideGx is the next step in Premier’s ongoing effort to reliably
supply member health systems and others with more than 250 high-quality
products, including shortage drugs. Through the subsidiary, Premier is
working with a robust pipeline of manufacturers to identify a supply of
shortage products, explore solutions to address specific market needs
and secure guaranteed supply contracts for active pharmaceutical
ingredients to promote a continuous supply.
“We are expanding our portfolio of generic injectable medicines at
competitive cost points for hospitals, and are proud to work with
Premier, a long-standing partner and leader in solving drug shortages,”
said Robert Felicelli, President, Pharmaceuticals, Baxter. “Combining
our leadership in drug delivery technology and supply chain strength
with Premier’s data and vast purchasing network will help us better
understand demand and create a sustainable supply of this essential
medicine.”
Guided by Premier’s member health systems and National Pharmacy
Committee, representing more than 1,000 hospitals across the nation,
ProvideGx plans to introduce drugs from a target list of more than 60
shortage products in months to come, beginning with sterile generic
injectables, a category that is particularly susceptible to shortages.
“With their deep expertise, data-driven insights, and efficient,
price-competitive strategy, Premier continues to be the national leader
in reliably sourcing shortage drugs,” said Lee H. Perlman, President of
GNYHA Ventures, Inc., the management company of Premier’s group
purchasing partner Acurity, Inc. “Drug shortages are an unfortunate
reality, and each one creates new financial and patient care challenges.
We strongly support the commitment of Premier and Baxter to not only
access drugs in shortage today, but also head off potential future
shortages.”
The financial terms of Premier’s deal with Baxter were not disclosed.
Revenues from the partnership are not expected to materially impact
Premier FY 2019 results. Baxter previously received FDA approval for
metoprolol injection.
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;
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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.