electroCore Announces Publication in PharmacoEconomics Reiterating Economic Benefits of gammaCore for Cluster Headache Outlined by The National Institute for Health and Care Excellence (NICE) Medical Technologies Guidance

Rhea-AI Summary

On August 4, 2021, electroCore announced the publication of an article in PharmacoEconomics that highlights the cost-effectiveness of gammaCore for treating cluster headaches. It shows that gammaCore therapy can save £450 per patient in the first year compared to standard treatments, while also reducing headache frequency and severity. The UK National Institute for Health and Care Excellence (NICE) guidance supports the adoption of gammaCore in the NHS, aiming to enhance its market presence. Iain Strickland noted the significance of NICE’s endorsement for growth in the UK market.

Positive

• gammaCore therapy demonstrates a £450 per patient savings in the first year compared to standard care.
• Study shows gammaCore reduces frequency and severity of cluster headaches.
• NICE guidance supports the adoption of gammaCore, enhancing its market potential in the UK.

Negative

• None.

ROCKAWAY, NJ, Aug. 04, 2021 (GLOBE NEWSWIRE) -- electroCore, Inc. (NASDAQ: ECOR), a commercial-stage bioelectronic medicine company (the Company), today announced the release of an article entitled “gammaCore for Cluster Headaches: A NICE Medical Technologies Guidance” in the journal PharmacoEconomics highlighting the cost impact of gammaCore’s non-invasive vagus nerve stimulation therapy platform for patients with cluster headaches.

The paper is part of a series that provides insight into the development of UK National Institute for Health and Care Excellence (NICE) medical technologies guidance for new or innovative medical devices or diagnostics. The aim of the guidance is to support the adoption of clinically effective and cost-saving technologies in the UK National Health Service. The paper validated that gammaCore both reduces the frequency and severity of cluster headaches when used with standard of care and provides a £450 per patient savings in the first year of therapy versus standard of care alone.

“PharmacoEconomics reiterating the evidence supporting gammaCore’s effectiveness and economic benefit provides further support that gammaCore can play an important role in providing value-based therapy” commented Iain Strickland, VP Global Sales and Strategy of electroCore. “We look forward to the growth of our UK business as we continue to educate prescribers and payers on both the NICE medical technologies guidance and the MedTech Funding Mandate policy throughout the year. “ 

The article can be accessed at: https://link.springer.com/article/10.1007/s41669-021-00276-5

About gammaCore^TM
gammaCore^TM (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore (nVNS) is FDA cleared in the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients. gammaCore is CE-marked in the European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.

gammaCore is contraindicated for patients if they:

• Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
• Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
• Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)
  
  

Safety and efficacy of gammaCore have not been evaluated in the following patients:

• Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
• Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
• Pediatric patients (less than 12 years)
• Pregnant women
• Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia
  
  

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore’s expectations for revenue and cash used in operations during the third quarter of 2021, its expectations for future performance, as well as electroCore's business prospects and clinical and product development plans for 2021 and beyond, its pipeline or potential markets for its technologies, additional indications for gammaCore, the timing, outcome and impact of regulatory, clinical and commercial developments, further international expansion, and statements about anticipated distribution arrangements, government and payor funding arrangements (including those relating to the NICE Medical Technologies Guidance or MedTech Funding Mandate) and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.

FAQ

What is the significance of the article published by electroCore in PharmacoEconomics?

The article validates gammaCore's effectiveness and highlights its cost savings, showing a £450 reduction per patient in the first year compared to standard treatments.

How does gammaCore therapy impact cluster headache treatment?

gammaCore therapy is shown to reduce the frequency and severity of cluster headaches when combined with standard care.

What does NICE medical technologies guidance imply for gammaCore?

NICE guidance supports the adoption of gammaCore in the UK National Health Service, potentially increasing its market presence.

Who commented on the importance of the NICE guidance for electroCore?

Iain Strickland, VP Global Sales and Strategy of electroCore, emphasized the significance of NICE’s endorsement for growth in the UK market.