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TAMPA - Wellgistics Health, Inc. (NASDAQ:WGRX), a healthcare distribution company with a market capitalization of $69.55 million, announced Tuesday a strategic collaboration with TheracosBio to increase affordability and accessibility of the diabetes medication Brenzavvy (bexagliflozin) across the United States. According to InvestingPro analysis, the company’s stock is currently trading near its Fair Value, despite experiencing significant market pressure with a 75% decline year-to-date.
The partnership will utilize Wellgistics Health’s distribution network of over 6,500 independent and chain pharmacies to deliver the SGLT-2 inhibitor through both retail and direct-to-patient channels.
According to the companies, the collaboration aims to reduce costs by eliminating intermediaries in the distribution chain, potentially lowering patient expenses below typical insurance copayments. The initiative comes as out-of-pocket costs for SGLT-2 inhibitors can exceed $500 monthly, contributing to only one in eight eligible adults receiving this class of medication.
"Through Wellgistics Health’s streamlined approach, we are expanding access to Brenzavvy, helping patients afford their medications while empowering pharmacists to deliver meaningful care," said Brian Connelly, CEO of TheracosBio, in the press release.
Wellgistics Health will integrate Brenzavvy into its Tech & Hub and Distribution platform beginning in the fourth quarter of 2025. The system will incorporate AI-driven modules for eligibility verification, claims processing, and adherence tracking.
Brian Norton, CEO of Wellgistics Health, stated the company is "pioneering innovative models designed to not only expand patient access but also bring new levels of transparency and affordability to the healthcare system."
Type 2 diabetes affects more than 37 million Americans and costs the U.S. an estimated $327 billion annually, according to figures provided in the announcement. For investors interested in analyzing healthcare sector opportunities, InvestingPro offers comprehensive financial analysis tools and real-time market insights to identify promising investment opportunities in this growing market.
Brenzavvy is a once-daily oral treatment designed to improve glycemic control in adults with type 2 diabetes when used alongside diet and exercise.
This information is based on a company press release statement.
In other recent news, Wellgistics Health, Inc. has announced several significant developments. The company has priced a public offering of 7,142,862 shares of common stock with accompanying warrants at $0.70 per share, aiming to raise $5 million. This offering includes warrants that are immediately exercisable and will expire in five years. Additionally, Wellgistics Health has converted $8.1 million in debt to equity, a move aimed at reducing short-term debt obligations and strengthening its financial position. In a strategic shift, the company has terminated its equity purchase agreement with Hudson Global Ventures, LLC, aligning with its focus on long-term shareholder value. Furthermore, Wellgistics Health has launched an XRP Implementation Program, allowing independent pharmacies to utilize blockchain-based payments for prescription drug transactions, developed in partnership with RxERP. These recent developments reflect Wellgistics Health’s ongoing efforts to enhance its financial structure and operational capabilities.
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