Baudax Bio Secures Pharmacy Supplier Agreement with Vizient Inc. for ANJESO®

Rhea-AI Summary

Baudax Bio (NASDAQ: BXRX) announced a Pharmacy Supplier Agreement with Vizient, effective July 1, 2020, for its non-opioid pain management drug, ANJESO. This agreement, which allows Vizient's members—including over 50% of U.S. acute care providers—to benefit from significant savings, enhances patient access to ANJESO. Since its launch in June 2020, ANJESO has received strong clinician interest, and Baudax is expanding its commercial reach to Vizient members. The company emphasizes that this agreement is crucial for improving patient access and lowering healthcare costs.

Positive

• Partnership with Vizient allows for enhanced savings for over 50% of U.S. acute care providers.
• Strong clinician interest in ANJESO, indicating potential market demand.
• The agreement supports Baudax's goal of increasing patient access to important medicines.

Negative

• None.

MALVERN, Pa., July 20, 2020 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on therapeutics for acute care settings, today announced that it has entered into a Pharmacy Supplier Agreement with Vizient, Inc. effective as of July 1, 2020, to offer ANJESO (meloxicam) injection, a non-opioid option for managing moderate to severe pain. The agreement offers enhanced savings to Vizient’s diverse membership, which includes more than 50% of the nation’s acute care providers, including 95% of the nation’s academic medical centers, and more than 20% of ambulatory care providers.

“Agreements like this one with Vizient are important to Baudax and our customers as it helps increase patient access to important medicines like ANJESO,” said Gerri Henwood, President and CEO of Baudax Bio. “Since the official launch of ANJESO in June, Baudax Bio has deployed its sales force across the U.S., with the goal of bringing ANJESO to as many patients as possible. Thus far, clinician interest has been strong and we look forward to expanding our commercial reach to now include Vizient members who will benefit from meaningful contract savings.”

Vizient, Inc. is the largest member-driven healthcare performance improvement company in the United States. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $100 billion in annual purchasing volume, to improve patient outcomes and lower costs.

About Baudax Bio

Baudax Bio is a specialty 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 

FAQ

What is the significance of the Pharmacy Supplier Agreement between Baudax Bio and Vizient?

The agreement allows Baudax Bio to offer ANJESO to Vizient's membership, which includes more than 50% of U.S. acute care providers, enhancing patient access and providing significant savings.

When was ANJESO launched and how has its reception been?

ANJESO was launched in June 2020 and has received strong interest from clinicians since its introduction.

What is ANJESO and how does it differ from traditional pain management options?

ANJESO is a non-opioid IV NSAID designed for managing moderate to severe pain, offering benefits over traditional opioids by reducing risks such as respiratory depression and addiction.

What percentage of acute care providers in the U.S. will benefit from the Vizient agreement?

The agreement provides benefits to more than 50% of acute care providers in the United States.

What potential challenges does Baudax Bio face with the commercialization of ANJESO?

Baudax Bio may encounter challenges such as maintaining regulatory approval, commercial supply chain issues, and achieving acceptance from healthcare providers.