Scilex Holding Company Announces Major Initiative with a Leading National Pharmacy Chain to Stock GLOPERBA® in Most of Their Stores Throughout the U.S.
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Insights
The strategic decision by Scilex to partner with a leading national pharmacy chain for the distribution of GLOPERBA® is a significant move that could substantially increase the product's market penetration upon its launch. The gout treatment market is on an upward trajectory, with projections of reaching $2.0 billion by 2028. This growth is fueled by the rising prevalence of gout, which currently affects an estimated 9.2 million people in the U.S. alone.
Scilex's focus on non-opioid pain management products is timely, considering the ongoing opioid crisis and the medical community's efforts to find alternative treatments. GLOPERBA®, being the first liquid oral colchicine medication, could offer a differentiated option for gout prophylaxis, especially for patients with comorbid conditions requiring precise dosing. The product's unique positioning and the company's increased production efforts suggest a proactive response to anticipated demand.
Scilex's initiative to stock GLOPERBA® across a major pharmacy chain is a move that aligns with current healthcare trends favoring more personalized and convenient treatment options. Over 70% of gout patients have comorbid conditions that necessitate careful dose adjustments, which GLOPERBA® could potentially address more effectively than existing treatments.
This development also reflects the broader industry shift towards specialty pharmaceuticals that cater to specific patient needs. By securing a widespread distribution network ahead of the product's launch, Scilex is positioning itself to quickly capture market share in the gout prophylaxis space, potentially disrupting the current market dynamics.
The involvement of Cardinal Health as a third-party logistics service provider for GLOPERBA® indicates Scilex's commitment to a robust supply chain strategy. Efficient distribution is critical, especially for a new product entering the competitive pharmaceutical market. The partnership with Cardinal Health, a well-established player in the logistics space, could ensure timely and reliable delivery of GLOPERBA® to pharmacies, which is vital for maintaining the product's integrity and availability.
By scaling up manufacturing ahead of the launch, Scilex demonstrates foresight in supply chain management, potentially mitigating risks such as stockouts or delays that could impair the product's success post-launch.
- Leading national pharmacy chain to stock GLOPERBA® in majority of their stores throughout the U.S. Scilex is also in the process of negotiating similar potential stocking arrangements with additional pharmacy chains in the U.S.
- For its potential launch expected in the first half of 2024, GLOPERBA® commercial product inventory is available at Scilex’s third party logistics service provider, Cardinal Health.
- GLOPERBA® is the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.
- Gout is a painful arthritic disorder affecting an estimated 9.2 million people in the United States¹. As gout cases increase every year, treatment requirements increase. According to data gathered by Evaluate Pharma, the gout treatment market is projected to reach
$2.0 billion in the U.S. by 2028 with a well-defined area of unmet need.² - Over
70% of gout patients have comorbid conditions that may require precision dose adjustments and such patients could be a potential target population for GLOPERBA®.³ - Scilex increased production of GLOPERBA® and product availability under the brand marketed and distributed by Scilex Pharmaceuticals, Inc. for GLOPERBA®
PALO ALTO, Calif., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced a major initiative with a leading national pharmacy chain to stock GLOPERBA® in most of their stores throughout the U.S. GLOPERBA®, an FDA-approved prophylactic treatment for painful gout flares in adults in the U.S., is expected to launch in the U.S. in first half of 2024. The increase of GLOPERBA® manufacturing is to meet its potential demand and increased stocking needs in its distribution center.
“GLOPERBA® is a highly complementary commercial asset that allows the Company to provide physicians with another tool in their non-opioid pain management armamentarium to treat gout earlier in the patient journey as the Company continues to work towards re-defining the role of opioids as a last resort pain medication,” said Jaisim Shah, Chief Executive Officer and President of Scilex.
Exhibit A
Exhibit B
For more information on ZTlido® including Full Prescribing Information, refer to www.ztlido.com.
For more information on ELYXYB®, including Full Prescribing Information, refer to www.elyxyb.com.
For more information on Gloperba®, including Full Prescribing Information, refer to www.gloperba.com.
About Scilex Holding Company
Scilex Holding Company is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes. Scilex’s commercial products include: (i) ZTlido® (lidocaine topical system)
In addition, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXA™” or “SP-102”), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica for which Scilex has completed a Phase 3 study; (ii) SP-103 (lidocaine topical system)
Scilex Holding Company is headquartered in Palo Alto, California.
Forward-Looking Statements
This press release and any statements made for and during any presentation or meeting concerning the matters discussed in this press release contain forward-looking statements related to Scilex and its subsidiaries under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding the potential for Scilex to enter into similar stocking arrangements with other pharmacy chains in the U.S., estimates for the gout treatment market and affected patient population, estimates for potential demand of Gloperba, plans to launch Gloperba in [the first quarter of] 2024 and plans to initiate Phase 2 trials in 2024 for SP-104.
Risks and uncertainties that could cause Scilex’s actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: risks associated with the unpredictability of trading markets and whether a market will be established for Scilex’s common stock; general economic, political and business conditions; risks related to COVID-19 (and other similar disruptions); the risk that the potential product candidates that Scilex develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; risks relating to uncertainty regarding the regulatory pathway for Scilex’s product candidates; the risk that Scilex will be unable to successfully market or gain market acceptance of its product candidates; the risk that Scilex’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Scilex has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; risks that the outcome of the trials and studies for SP-102, SP-103 or SP-104 may not be successful or reflect positive outcomes; risks that the prior results of the clinical and investigator-initiated trials of SP-102 (SEMDEXA™), SP-103 or SP-104 may not be replicated; regulatory and intellectual property risks; and other risks and uncertainties indicated from time to time and other risks described in Scilex’s most recent periodic reports filed with the Securities and Exchange Commission, including Scilex’s Annual report on Form 10-K for the year ended December 31, 2022 and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and Scilex undertakes no obligation to update any forward-looking statement in this press release except as may be required by law.
Contacts:
Investors and Media
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310
Email: investorrelations@scilexholding.com
Website: www.scilexholding.com
Reference
1) https://jamanetwork.com/journals/jama/fullarticle/2787544#:~:text=How%20Common%20Is%20Gout%3F,%
2) Evaluate Pharma data
3) Comorbidities of Gout and Hyperuricemia in the US General Population: NHANES 2007-2008
SEMDEXA™ (SP-102) is a trademark owned by Semnur Pharmaceuticals, Inc., a wholly-owned subsidiary of Scilex Holding Company. A proprietary name review by the FDA is planned.
ZTlido® is a registered trademark owned by Scilex Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company.
Gloperba® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.
ELYXYB® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.
All other trademarks are the property of their respective owners.
© 2024 Scilex Holding Company All Rights Reserved.
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FAQ
What is the product being stocked in the majority of national pharmacy chain stores by Scilex Holding Company?
When is the potential launch of GLOPERBA® expected?
What is the market projection for the gout treatment market in the U.S. by 2028?
What percentage of gout patients have comorbid conditions that may require precision dose adjustments?
Who is the Chief Executive Officer and President of Scilex Holding Company?
