BUSINESS INSIGHTS, PHARMA TECH
Avita Care Solutions | January 10, 2023
PMQ Investors, LLC, the parent company of Avita, has acquired Q Care Plus, Inc. This community-focused care management solution offers stigma-free access to care via telehealth, focusing on telePrEP services.
Meanwhile, the terms and conditions of the deal are yet to be revealed.
"Bringing Avita and Q Care Plus together comes at a time when reducing health inequities among underserved populations is more critical than ever," said Avita Chief Executive Officer Michael Yount. He further added, "A multiyear pandemic, partisanship-based politics that limit health care rights, and long-standing stigma, fear, and discrimination against marginalized populations like the LGBTQ+ community have exacerbated existing obstacles to health care and created a host of new ones."
(Source: PR Newswire)
Avita can now broaden its commitment to a community care management strategy that eliminates obstacles for patients and covered entities throughout the care continuum due to its acquisition of Q Care Plus. The company promotes patients' and covered entity partners' capacity to acquire culturally competent LGBTQ+, HIV, PrEP, and sexual wellness care by providing comprehensive access to pharmacy services, 340B program administration, clinical care delivery, and digital health choices.
Avita is transitioning to Avita Care Solutions in light of its recent growth. This brand will encompass Avita Pharmaceutical, the company's pharmacy services section, and AvitaCare Atlanta, its new Atlanta medical and primary care center and pharmacy previously owned by AbsoluteCare. There are no plans to rebrand Q Care Plus' digital health platforms. In 2023, Avita will start selling Q Care Plus under the Avita family of brands.
About Avita Care Solutions
Avita Care Solutions is committed to improving health equity by giving underserved communities comprehensive, caring, and all-inclusive health care and pharmacy services. Its strategy for managing care in the community makes it possible for patients and covered entities to eliminate barriers across the care continuum. Over 145,000 patients and 320+ covered organizations at 65+ locations benefit from Avita's community care management strategy, which includes pharmacy services, program administration, digital health, and clinical care delivery.
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RESEARCH, PHARMACY MARKET
Impel Pharmaceuticals | February 23, 2023
On February 22, 2023, Impel Pharmaceuticals, a pharmaceutical firm that develops innovative treatments for diseases with high unmet medical needs, announced that it will execute an operational streamlining plan to reduce employee and non-employee expenses, primarily affecting the research and development division. The company intends to divert resources to benefit from the successful response of payors and prescribers to Trudhesa® (dihydroergotamine mesylate) nasal spray (0.725 mg per spray).
Impel Pharmaceuticals will stop research and development activities on INP105, a drug to treat agitation and aggression in autism spectrum disorder. The reduction in expenses is expected to come from lower non-employee-related general and administrative and research and development expenses, as well as a reduction of 16 percent in headcount.
Additionally, the company announced that its Chief Medical Officer, Stephen Shrewsbury, M.D., will leave the company on March 31, 2023.
The company projects that these measures, along with others, will provide sufficient capital to fund operations through Q3 2023, allowing it to focus on maximizing the commercial opportunity and positive momentum of Trudhesa® in the huge and rapidly expanding acute migraine market.
Trudhesa® has experienced a strong launch trajectory, with 58,424 prescriptions at the end of 2022, accounting for 4.3% of branded acute migraine prescriptions (nTRx) among prescribers after a full-year launch. Impel expanded its sales force by 50%, from 60 to 90 sales professionals, in July 2022 to capitalize on this positive momentum, resulting in a 58% increase in new quarterly prescriptions from Q2 to Q4 2022. Reimbursement of all shipments finished the year at over 60%, and refill rates remained high, with an average of 63% at the end of 2022.
The company plans to increase its efforts to commercialize Trudhesa® while also exploring strategic and financing initiatives and opportunities to fully leverage the potential of its proprietary Precision Olfactory Delivery (POD®) technology and expertise with small and large molecules in various disease areas.
About Impel Pharmaceuticals
Impel Pharmaceuticals is a commercial-stage pharmaceutical firm that focuses on developing and providing treatments for patients suffering from diseases with high unmet needs. The company employs a novel approach to drug delivery by utilizing its proprietary Precision Olfactory Delivery (POD®) technology in conjunction with established therapeutics to develop and offer treatments. In September 2021, it received approval from the U.S. FDA for its first product, Trudhesa® nasal spray, which is used to treat acute migraine with or without aura in adults. Along with Trudhesa, the company continues to address patient needs through licensing and partnerships.
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BUSINESS INSIGHTS, PHARMACY MARKET
West Pharmaceutical Services, Inc. | February 01, 2023
On January 31, 2023, West Pharmaceutical Services, Inc., a global pioneer in novel injectable drug administration solutions, announced its participation in Pharmapack Europe 2023 in Paris, France, to demonstrate its leadership and insights on industry packaging and containment trends and challenges.
With the introduction of three new products, the company expands its innovations for its patients and customers worldwide - Daikyo Crystal Zenith® 2.25mL Insert Needle Syringe System, West Ready Pack™ with Corning Valor® RTU Vials using Stevanato Group's EZ-fill® SG EZ-fill® technology and FluroTec® 5-10mL Cartridge Plunger.
West Pharmaceutical Services Vice President and General Manager, Biologics Li Chen commented, "This year, we are introducing three new product solutions at Pharmapack." He added, "With these innovations, we are addressing the growing market needs for today's complex and sensitive molecules, including large-volume delivery and a complete vial containment solution that can protect and scale from development through commercialization."
(Source – PR Newswire)
Meanwhile, West's participation in this year's conference includes the following
Learning Lab - How Market Trends Drive Innovation and Enable the Pharmaceutical Pipeline on Wednesday, February 1, 2023
Panel Session - Innovation of Novel Medicines and Trends in Demand for Injectable Home and Self-Administration on Wednesday, February 1, 2023
Innovation Tours - West Ready Pack™ with Corning Valor® RTU Vials using Stevanato Group's EZ-fill® Technology on Wednesday, February 1, 2023
Daikyo Crystal Zenith® 2.25mL Insert Needle Syringe System on Thursday, February 2, 2023
About West Pharmaceutical Services, Inc.
Founded in 1923, West Pharmaceutical Services, Inc. is a market leader in developing and delivering innovative, high-quality injectable solutions and services. As a trusted partner to both established and emergent drug producers, it contributes to the safe, effective containment and distribution of life-saving and life-enhancing medications to patients. West Pharmaceutical supports its clients by supplying over 45 billion components and devices annually, with roughly 10,000 team members spread across 50 facilities globally. The company marks its 100th anniversary of growth and innovation in 2023, as well as the essential role it continues to play in healthcare and the patient experience. Headquartered in Exton, Pennsylvania, it had generated $2.83 billion in net sales for the fiscal year 2021.
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