Bioanalytical Systems, Inc., doing business as Inotiv, Announces Plan to Expand Service Offerings to Include Cardiovascular Safety Pharmacology
Bioanalytical Systems, Inc. (NASDAQ:BASI), known as Inotiv, announced on March 17, 2021, plans to enhance its service offerings by adding cardiovascular safety pharmacology capabilities. This expansion aims to provide integrated pharmacology packages for cardiovascular, respiratory, and central nervous system evaluations. Inotiv intends to reduce reliance on subcontractors, which is expected to improve service speed, quality, and margins. This initiative supports the company's growth strategy and enhances its service suite.
- Expansion of service offerings to include cardiovascular safety pharmacology.
- Reduction in reliance on subcontractors to improve service quality and margins.
- Integrated safety pharmacology packages to enhance clients' drug development processes.
- None.
WEST LAFAYETTE, Ind., March 17, 2021 (GLOBE NEWSWIRE) -- Bioanalytical Systems, Inc. (NASDAQ:BASI) (the “Company”, “We”, “Our” or “Inotiv”), doing business as Inotiv, a leading provider of nonclinical and analytical contract research services, today announced plans to expand the Company’s service offerings to add cardiovascular safety pharmacology capabilities to the existing capabilities for respiratory and central nervous system safety pharmacology.
Safety pharmacology evaluations are critical for assessing the impact of drug candidates. By summer 2021, Inotiv expects to offer integrated safety pharmacology packages that include core battery tests for cardiovascular, respiratory, and central nervous system functions as standalone safety pharmacology packages or as part of a full investigational new drug / clinical trial application program. The Company previously relied on subcontractors for these cardiovascular assessments.
“Over the past year, we’ve made significant investments towards reducing our subcontracted and outsourced work,” said Company President and Chief Executive Officer Robert Leasure, Jr. “This is a continuation of that strategy that we believe will allow us to improve speed and control quality of services while also enhancing margins.”
“The initiative to add cardiovascular safety pharmacology began in April 2020, as we assembled our cardiovascular safety pharmacology team and conducted validation studies to fully support this new offering. This is yet another step we’re taking to support our growth strategy and expand our current suite of services to provide the broad scope and right-sized solutions crucial to the success of our clients.”
About the Company
Bioanalytical Systems, Inc., doing business as Inotiv, is a pharmaceutical development company providing contract research services and monitoring instruments to emerging pharmaceutical companies and the world's leading drug development companies and medical research organizations. The Company focuses on developing innovative services supporting its clients’ discovery and development objectives for improved decision-making and accelerated goal attainment. The Company’s products focus on increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Visit inotivco.com for more information about the Company.
This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry and regulatory standards, the timing of acquisitions and the successful closing, integration and business and financial impact thereof, the impact of the COVID-19 pandemic on the economy, demand for our services and products and our operations, including the measures taken by governmental authorities to address the pandemic, which may precipitate or exacerbate other risks and/or uncertainties and various other market and operating risks, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission.
| Company Contact | Investor Relations |
| Bioanalytical Systems, Inc., dba Inotiv | The Equity Group Inc. |
| Beth A. Taylor, Chief Financial Officer | Kalle Ahl, CFA |
| (765) 497-8381 | (212) 836-9614 |
| btaylor@inotivco.com | kahl@equityny.com |
| | |
| Devin Sullivan | |
| (212) 836-9608 | |
| dsullivan@equityny.com |
FAQ
What is the recent announcement from Bioanalytical Systems, Inc. (BASI)?
How will the new cardiovascular safety pharmacology capabilities affect BASI?
When is BASI planning to offer the new pharmacology packages?
