Baudax Bio’s ANJESO® Achieves Formulary Listing at Over 100 Institutions in Less Than One Year on the Market

Rhea-AI Summary

Baudax Bio (NASDAQ:BXRX) announced that its product ANJESO^® (meloxicam) injection achieved approval at over 100 U.S. formularies within a year of its launch. This milestone is expected to enhance its usage in hospitals and ambulatory care centers. CEO Gerri Henwood reported growth in new accounts, sales, and reorder rates, indicating positive market reception. ANJESO offers a non-opioid alternative for managing moderate to severe pain, reducing the risks associated with traditional opioids. The company remains focused on successful commercialization as hospital procedures normalize.

Positive

• ANJESO achieved formulary approval at over 100 institutions in under one year.
• Positive feedback from physicians and increases in new accounts and reorder rates.
• ANJESO is a proprietary non-opioid analgesic, addressing opioid-related risks.

Negative

• None.

MALVERN, Pa., June 08, 2021 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on developing and commercializing innovative products for acute care settings, today announced that ANJESO^® (meloxicam) injection has achieved approvals at over 100 formularies across the U.S. in under one year of commercialization. ANJESO’s presence on formularies is expected to drive usage through regular availability at both hospitals and ambulatory care centers covered by these formularies.

“Over the past year, Baudax Bio has made significant progress with the ongoing commercial rollout of ANJESO. We have now achieved formulary listing at 100 institutions across the U.S., and we were able to secure these in less than one full year on the market,” said Gerri Henwood, President and CEO of Baudax Bio. “We continue to receive positive feedback from physicians and we continue to see increases in new accounts, units sold, reorder rates, and usage patterns across the surgical setting. We remain committed to the successful launch of ANJESO and are well prepared for the anticipated increase in demand as the marketplace moves toward a more normal pace of hospital procedures.”

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 launched in the U.S. in June 2020. ANJESO is indicated 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. ANJESO is 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 developing and commercializing innovative products for acute care settings. The launch of Baudax Bio’s first commercial product ANJESO^® began in mid-2020. ANJESO is the first and only 24-hour, intravenous (IV) COX-2 preferential non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other innovative pharmaceutical assets including two novel neuromuscular blocking agents (NMBAs) and a proprietary chemical reversal agent specific to these NMBAs which is currently in preclinical studies. For more information, please visit www.baudaxbio.com.

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. These risks and uncertainties include, among other things, risks related to 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 the 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 its 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 Baudax Bio’s business and future results included in Baudax Bio’s filings with the Securities and Exchange Commission at www.sec.gov. These forward-looking statements are based on information currently available to Baudax Bio, and Baudax Bio assumes no obligation to update any forward-looking statements except as required by applicable law.

CONTACT:  

Investor Relations Contact:

Argot Partners
Sam Martin / Claudia Styslinger
(212) 600-1902
baudaxbio@argotpartners.com

Media Contact:

Argot Partners
David Rosen
(212) 600-1902
david.rosen@argotpartners.com

FAQ

What is the latest news about Baudax Bio (BXRX)?

Baudax Bio announced that its ANJESO® injection has been approved at over 100 formularies across the U.S. in under one year.

How many formularies has ANJESO® (BXRX) achieved approvals at?

ANJESO® has achieved approvals at over 100 formularies in the U.S.

What does ANJESO® (BXRX) treat?

ANJESO® is indicated for the management of moderate to severe pain.

When was ANJESO® (BXRX) launched?

ANJESO® was launched in the U.S. in June 2020.

What are the benefits of ANJESO® (BXRX) over opioids?

ANJESO® provides meaningful analgesic effects without the addictive potential and risks associated with opioids.