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PRINCETON, NJ - Wellgistics Health, Inc. (NASDAQ: WGRX), a pharmaceutical distributor with a market capitalization of $140.25 million, has announced a partnership through its subsidiary Wellgistics LLC with Protega Pharmaceuticals Inc. to distribute ROXYBOND™, the only FDA-approved abuse-deterrent immediate-release opioid medication in the U.S. The collaboration aims to enhance pharmacist education on abuse-deterrent pain management options and improve patient access to ROXYBOND™. According to InvestingPro data, the company’s stock has declined 29% year-to-date, currently trading at $2.70 per share.
Wellgistics LLC, a pharmaceutical wholesaler and National Association of Boards of Pharmacy authorized distributor, serves over 5,400 independent pharmacies nationwide. The partnership is set to provide education and distribution support, particularly in underserved and rural areas where independent pharmacies are integral to patient care. Financial metrics from InvestingPro indicate the company operates with a gross profit margin of 9% and maintains a current ratio of 0.44, suggesting potential challenges in meeting short-term obligations.
Protega Pharmaceuticals, the creator of ROXYBOND™, utilizes its proprietary SentryBond™ technology to develop abuse-deterrent formulations. This technology is designed to maintain the intended release profile of the medication, even when subjected to manipulation or extraction attempts, although abuse through various routes is still possible.
The FDA approved a new 10 mg strength of ROXYBOND™ on September 5, 2024, adding to the existing 5 mg, 15 mg, and 30 mg tablet options. The availability of multiple dosages is intended to allow for more precise opioid therapy, aiming to enhance pain management outcomes and reduce the risk of side effects.
In light of the ongoing opioid crisis, educational resources will be provided to pharmacists, incorporating FDA regulations, DEA guidelines, and best practices in responsible opioid dispensing. The focus will be on safe and effective pain treatment options, the role of abuse-deterrent formulations in public health strategies, and preventing misuse, diversion, and overprescribing.
The collaboration between Wellgistics Health and Protega underscores a commitment to regulatory integrity and patient safety, as stated by Brian Norton, CEO of Wellgistics Health. This partnership is a strategic move to connect drug manufacturers with compliance, education, and access, thereby protecting patients and empowering pharmacists to operate with confidence and integrity.
This information is based on a press release statement from Wellgistics Health, Inc. and Protega Pharmaceuticals Inc.
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