Lilly to invest $400m to boost manufacturing capacity in US

Pharmaceutical Technology | November 21, 2019

Eli Lilly is set to invest $400m to boost the capacity of its manufacturing facilities at its technology centre campus in Indianapolis, Indiana, US. The move is intended to meet the increasing demand for the company’s existing medicines and to support the production of future drugs in its pipeline. Lilly will use the capital to add enhancements to facilities that manufacture insulin, boost capacity for its diabetes portfolio and as initial capital for future drugs. Furthermore, the company expects the investment to create nearly 100 jobs in manufacturing. Eli Lilly chairman and CEO David Ricks said: “These investments demonstrate Lilly’s commitment to our manufacturing footprint in Indiana and the US and have been made possible by the tax reform measures passed by Congress in 2017. “With more capital available as a result of tax reform, Lilly and other Indiana companies are able to re-invest and expand production here at home.” The investment will bring capacity and technology upgrades to the company’s active ingredient, syringe filling, device assembly and packaging operations.

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Our DNA is made up of four nucleotide bases: A, T, G, and C. The blueprints for creating an organism lie within the sequence of those bases, and for decades now researchers have been sequencing the genomes of various organisms, including people. That process means figuring out the precise order of billions of those bases.


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BUSINESS INSIGHTS

Vetsource Expands Its Solution Set to Include Data and Insights, Client Engagement

Vetsource | February 28, 2022

Vetsource®, a pet health company that provides innovative pharmacy, technology and business services designed to help customers provide products and services to those who care for pets, has added data and insights, and client engagement offerings to its portfolio of customer solutions. Previously focused primarily on the home delivery of prescription and nonprescription items on behalf of veterinary practices, Vetsource has expanded its services in order to build a world-class infrastructure to help its veterinary practice, industry and retail customers deliver a competitive and personalized experience for their clients. The portfolio expansion is the result of Vetsource's investment in two companies – VetSuccess and Vet2Pet – as part of a long-term strategy to continue to meet the needs of its customers, and ultimately pet owners. "As the veterinary market has evolved, we've recognized the need to expand our solution set to help our customers engage with their clients in meaningful ways and leverage data to improve compliance rates and revenue. These services are a natural complement to our prescription management solution," Kurt Green, Vetsource CEO As the industry's leading data experts, VetSuccess provides performance reports, dashboards, and data services to veterinary practices, as well as robust analytics and quantitative veterinary insights to industry partners. These intuitive and interactive solutions allow customers to gain a deeper understanding of business performance, uncover actionable insights and make confident decisions that improve day-to-day operations. "With our strong alignment on company culture and core values, VetSuccess is a natural fit to join forces with Vetsource," said Katie McClean, Managing Director of VetSuccess. "We're proud to apply our expertise to help Vetsource deliver a data-driven platform that simplifies workflows and fosters growth for veterinary practices, ultimately providing the solutions partners need to break barriers and build bridges that strengthen the human-animal bond." Vet2Pet offers veterinary medicine's only customizable, all-in-one client connection system and app. Features like appointment management, pharmacy refills, 2-way chatting and texting, reminders, and rewards programs make it easy for practices and pet owners to interact, increase practice revenue, and save staff an average of three hours of phone time each day. "Joining Vetsource will help us achieve the dream we've had for Vet2Pet since its inception. Veterinarians will now have access to sophisticated software that elevates the client experience, improves team efficiency, and helps practices retain their pharmacies. This is a win for everyone," said Dr. Stacee Santi, Managing Director of Vet2Pet. In addition to product development, Vetsource has made significant investments in its workforce, leadership, and pharmacy operations, including the addition of a new pharmacy on the East Coast in 2021. Over the last three years, Vetsource has focused on building the teams that will drive products forward by more than doubling its workforce, including a deep investment in engineering talent. Vetsource recently hired Chief Product Officer, Ami Murthy, who brings extensive experience in product management and consumer ecommerce from leadership roles at companies such as eBay and Amazon. "Our dedication to providing a powerful platform is demonstrated not only in the investments we have made in enhancing our products, but also in the expertise of our teams," added Green. "After more than a decade as a pioneer in this market we want to continue to lead the way and we're just getting started." About Vetsource Vetsource provides innovative pharmacy, technology and business services to the pet health industry. At Vetsource, we strive to be the most trusted advocate in a rapidly evolving world and constantly seek new ways to help our customers chart a course for a better, brighter future for pets and their caretakers. Our data-powered platform eliminates complexities and simplifies workflows to help veterinarians, retailers and others in the pet health industry foster engagement, loyalty and positive experiences that ensure strong relationships. Vetsource's solutions include prescription management, data and insights, and client engagement. Founded in 2008 to help veterinary practices compete in the online marketplace with a home delivery solution, Vetsource expanded with the acquisitions of VetSuccess and Vet2Pet. Comprising over 500 employees, Vetsource is headquartered in Portland, Ore., with additional offices in Colorado, Oklahoma, Pennsylvania and Toronto, as well as multiple pharmacy locations.

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BUSINESS INSIGHTS

TIKOMED and IQVIA announce a strategic collaboration for the development of TIKOMED's lead drug platform candidate ILB®

Tikomed | May 09, 2022

Swedish biopharmaceutical company TikoMed AB and IQVIA announce a key strategic collaboration with the aim to accelerate the development of TikoMed's lead drug platform candidate ILB®, a broad-spectrum small molecule drug candidate with curative potential in a wide range of diseases driven by acute and chronic inflammation. The collaboration will support TikoMed's clinical development, regulatory and commercial strategies. IQVIA brings together deep therapeutic expertise, unparalleled data, and technology alongside flexible operating models to enable biopharma organisations such as TikoMed to accelerate the clinical development and commercialisation of innovative products that improve patient lives. "We are thrilled to have IQVIA involved supporting TikoMed with the next steps in our journey to improve human life by enhancing the body's natural ability to self-repair and regenerate. With our highly scalable proprietary drug platform we aim to provide safe, effective and affordable therapies to as many patients as possible across the globe", CEO Anders Kristensson Fiona Stewart, Head of Strategic Alliance Management Europe from IQVIA said "We are delighted TikoMed has selected IQVIA to strategically collaborate in the development of ILB®. We look forward to leveraging our depth of experience to help accelerate the availability of these medicines to the patients who need them the most." TikoMed was advised by The Connecting Architects on this strategic collaboration. TikoMed AB TikoMed is committed to improve human life by exploring and harnessing the medical potential of the body's ability to self-repair and regenerate. With an adaptive, multi modal mechanism of action, TikoMed's drug platform rebalances the body's inflammatory, immune and fibrotic responses to acute and chronic inflammation in order to enhance self-repair and regeneration. Currently applied as a therapy in neurodegeneration and an enabling technology for advanced therapies, the initial development programs include ALS, TBI and islet cell transplantation. Broader use of the drug platform will be considered for a wider range of diseases using a creative business and financing model. TikoMed's highly scalable proprietary technology aims to provide safe, qualitative and affordable medicine to as many patients as possible across the globe. TikoMed is privately-owned and based in Viken, Sweden. IQVIA IQVIA is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources and extensive domain expertise. IQVIA Connected Intelligence™ delivers powerful insights with speed and agility - enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients. With approximately 79,000 employees, IQVIA conducts operations in more than 100 countries.

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PHARMACY MARKET

medical leverage, a communications company positions itself for 2022 growth

medical leverage | January 15, 2022

medical leverage, a communications company is pleased to announce the promotion of Justin Reed to VP of Finance, Alexandra Rivers to HR and Training Manager, and Janeanne Josephson to Associate Marketing Manager. These changes drive the company's mission to meet the challenges of today's unique market. With the additional hiring of several project managers to the team, ml is positioning itself well for growth in 2022. These promotions are all important shifts in responsibility that will ensure ml's service levels are enhanced during its expansion efforts. "Our 2022 expansion efforts started at the stroke of midnight on the new year, thus spring-boarding our talent acquisition initiatives. We continue to attract top-notch thinkers and doers by focusing on creating a culture where we offer improved operations, continued staff training, and product enhancements to best serve our current and future clients. As always, our expansion approach is guided by our core values and steered by our Executive Leadership Team." medical leverage's president, Dave Oury ABOUT medical leverage is a medical communications company that provides full-service solutions to pharmaceutical, biotech, biopharmaceutical, medical device, and medical diagnostic companies. We elevate healthcare communications through education by partnering strategically with life science companies and providers. For over twenty years, we have had the distinct honor of working with marketing, medical affairs, sales training, and market access teams within US and international companies. We know that behind every program there is a product and behind every healthcare professional there is a patient. We focus on our clients, so they can focus on healthcare professionals and, ultimately, their patients.

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BUSINESS INSIGHTS

Omnicell Completes Acquisition of ReCept

Omnicell, Inc. | December 30, 2021

Omnicell, Inc. a leading provider of medication management solutions and adherence tools for health systems and pharmacies, has completed the previously announced acquisition of ReCept Holdings, Inc. The addition of ReCept’s specialty pharmacy management services for health systems, provider groups, and federally qualified health centers expands Omnicell’s Advanced Services portfolio to address the growing and complex specialty pharmacy market. ReCept provides implementation and managed services for health systems and other provider organizations to optimize their specialty pharmacy programs and the related pharmaceutical aspects of patient care. This total solution supports on-site management, including payor contracting, staffing, licensing, quality assurance, 340B administration, and preferred pricing agreements designed to improve margin and profitability, while keeping the patient at the center of care. “ReCept’s specialty pharmacy management services capabilities naturally complement Omnicell’s intelligent infrastructure, giving us deeper expertise to address the growing market need for managing complex specialty medications as part of a broader, more comprehensive medication management strategy,” Randall Lipps, chairman, president, CEO, and founder of Omnicell Under the terms of the purchase agreement, the acquisition price was $100 million, subject to customary adjustments, as provided for in the agreement and plan of merger. The ReCept business that is being acquired recorded annual recurring revenue of $24 million (unaudited) for the 12 months ended September 30, 2021, and is expected to accelerate Omnicell’s Advanced Services revenue growth. Omnicell used cash on its balance sheet to fund the transaction, which is expected to be accretive to Omnicell’s non-GAAP EBITDA beginning in the first quarter of 2023. About Omnicell Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Over 7,000 facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. More than 60,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell's innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions.

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Spotlight

Our DNA is made up of four nucleotide bases: A, T, G, and C. The blueprints for creating an organism lie within the sequence of those bases, and for decades now researchers have been sequencing the genomes of various organisms, including people. That process means figuring out the precise order of billions of those bases.

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