Baudax Bio Awarded Group Purchasing Agreement with Premier Inc. for ANJESO®
August 25 2020 - 3:05PM
Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on
therapeutics for acute care settings, today announced that it has
been awarded a Group Purchasing Agreement with Premier Inc.
Effective August 2020, the new agreement allows Premier
members, at their discretion, to take advantage of special pricing
and terms pre-negotiated by Premier for ANJESO (meloxicam)
injection, for the management of moderate to severe pain, alone or
in combination with other non-NSAID analgesics.
“Securing this agreement with Premier provides
Baudax with access to industry-leading resources and customers that
we believe will lead to increased usage of ANJESO,” said Gerri
Henwood, President and CEO of Baudax Bio. “We look forward to
expanding our commercial reach to now include Premier members who
will benefit from meaningful contract savings.”
Premier is a leading healthcare improvement
company, uniting an alliance of approximately 4,000 U.S. hospitals
and 175,000 other providers to transform healthcare. With
integrated data and analytics, collaboratives, supply chain
solutions, and advisory and other services, Premier enables better
care and outcomes at a lower cost.
About ANJESO®
ANJESO (meloxicam) injection is a proprietary,
long-acting, preferential COX-2 inhibitor that possesses analgesic,
anti-inflammatory and antipyretic activities, which are believed to
be related to the inhibition of cyclooxygenase type 2 pathway
(COX-2) and subsequent reduction in prostaglandin biosynthesis.
ANJESO was approved by the U.S. Food and Drug Administration in
February 2020 for the management of moderate to severe pain, alone
or in combination with other non-NSAID analgesics. Because of the
delayed onset of analgesia, ANJESO alone is not recommended for use
when rapid onset of analgesia is required. The ANJESO product
approval was supported by two pivotal Phase III clinical efficacy
trials, a large double-blind, placebo-controlled Phase III safety
trial and four Phase II clinical efficacy trials, as well as other
safety studies. As a non-opioid, Baudax Bio believes ANJESO has the
potential to overcome many of the issues associated with commonly
prescribed opioid therapeutics, including respiratory depression,
constipation, excessive nausea and vomiting, as well as having no
addictive potential, while maintaining meaningful analgesic effects
for relief of pain. ANJESO was designed using the NanoCrystal®
platform, a technology that enables enhanced bioavailability of
poorly water-soluble drug compounds. NanoCrystal® is a registered
trademark of Alkermes Pharma Ireland Limited (APIL).
About Baudax Bio
Baudax Bio is a pharmaceutical company focused
on therapeutics for acute care settings. The Company’s first
commercial product, ANJESO®, had its New Drug Application approved
by FDA on February 20, 2020 for the management of moderate to
severe pain, alone or in combination with other non-NSAID
analgesics. ANJESO is a once daily IV NSAID with preferential Cox-2
activity, which has successfully completed three Phase III clinical
trials, including two pivotal efficacy trials, a large double-blind
Phase III safety trial and other studies for the management of
moderate to severe pain. As a non-opioid, IV meloxicam has the
potential to overcome many of the issues associated with commonly
prescribed opioid therapeutics, including respiratory depression,
constipation, excessive nausea and vomiting, as well as having no
addictive potential while maintaining meaningful analgesic effects
for relief of pain. For more information please
visit www.baudaxbio.com.
Cautionary Statement Regarding Forward
Looking Statements
This press release contains forward-looking
statements that involve risks and uncertainties. Such
forward-looking statements reflect Baudax Bio's expectations about
its future performance and opportunities that involve substantial
risks and uncertainties. When used herein, the words “anticipate,”
“believe,” “estimate,” “may,” “upcoming,” “plan,” “target,” “goal,”
“intend,” and “expect,” and similar expressions, as they relate to
Baudax Bio or its management, are intended to identify such
forward-looking statements. These forward-looking statements are
based on information available to Baudax Bio as of the date of
publication on this internet site and are subject to a number of
risks, uncertainties, and other factors that could cause Baudax
Bio’s performance to differ materially from those expressed in, or
implied by, these forward-looking statements. Baudax Bio assumes no
obligation to update any such forward-looking statements. These
forward-looking statements are subject to risks and uncertainties
including, among other things, the ongoing economic and social
consequences of the COVID-19 pandemic, including any adverse impact
on the commercial launch of ANJESO™ or disruption in supply chain,
Baudax Bio’s ability to maintain regulatory approval for ANJESO,
Baudax Bio’s ability to successfully commercialize ANJESO; the
acceptance of ANJESO by the medical community, including
physicians, patients, health care providers and hospital
formularies; Baudax Bio’s ability and that of Baudax Bio’s third
party manufacturers to successfully scale-up our commercial
manufacturing process for ANJESO, Baudax Bio’s ability to produce
commercial supply in quantities and quality sufficient to satisfy
market demand for ANJESO, Baudax Bio’s ability to raise future
financing for continued product development, payment of milestones
and ANJESO commercialization, Baudax Bio’s ability to pay its debt
and satisfy conditions necessary to access future tranches of debt,
Baudax Bio’s ability to comply with the financial and other
covenants under its credit facility, Baudax Bio’s ability to manage
costs and execute on our operational and budget plans, the accuracy
of Baudax Bio’s estimates of the potential market for ANJESO,
Baudax Bio’s ability to achieve its financial goals; and Baudax
Bio’s ability to obtain, maintain and successfully enforce adequate
patent and other intellectual property protection. These
forward-looking statements should be considered together with the
risks and uncertainties that may affect our business and future
results included in our filings with the Securities and Exchange
Commission at www.sec.gov. These forward-looking statements are
based on information currently available to us, and we assume no
obligation to update any forward-looking statements except as
required by applicable law. These forward-looking statements should
be considered together with the risks and uncertainties that may
affect Baudax Bio’s business and future results included in Baudax
Bio’s filings with the Securities and Exchange Commission at
www.sec.gov.
CONTACT:
Investor Relations Contact: Argot Partners Sam
Martin / Claudia Styslinger (212) 600-1902 sam@argotpartners.com
claudia@argotpartners.com
Baudax Bio, Inc. Ryan D. Lake (484) 395-2436
rlake@baudaxbio.com
Media Contact: Argot Partners David Rosen (212)
600-1902 david.rosen@argotpartners.com
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