Adamis Pharmaceuticals Announces Production of Additional Drugs by its US Compounding Subsidiary to Aid in the COVID-19 Pande...
April 21 2020 - 9:00AM
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) today announced
that its wholly owned drug outsourcing facility, US Compounding
Inc. (USC), has increased its product mix to provide additional
drugs to assist in the ongoing fight against COVID-19. Due to
this pandemic, the U.S. Food and Drug Administration (FDA) has
allowed outsourcing facilities to compound certain medications that
are in short supply, but not listed on FDA’s Drug Shortage
List. USC has begun manufacturing a variety of these
pharmaceutical products, many of which may be used to treat acutely
ill COVID-19 patients.
Dr. Dennis J. Carlo, President and Chief Executive Officer of
Adamis stated, “As the impact of this pandemic has grown, essential
drugs needed to treat COVID-19 patients have become in short
supply. In order to assist in making some of these products
available, we have expanded and re-directed some of our
manufacturing efforts in order to supply these drugs to those
patients in need. We are 100% committed to do our part and
assist in any way we can to help and alleviate the pain, suffering
and anxiety that is occurring during these challenging times.”
About Adamis Pharmaceuticals
Adamis Pharmaceuticals Corporation is a specialty
biopharmaceutical company primarily focused on developing and
commercializing products in various therapeutic areas, including
respiratory disease, allergy and opioid overdose. The
company’s SYMJEPI (epinephrine) Injection 0.3mg and SYMJEPI
(epinephrine) Injection 0.15mg products were approved by the FDA
for use in the emergency treatment of acute allergic reactions,
including anaphylaxis. In July 2019, Sandoz, a division of
Novartis Group, announced it had fully launched both in the
U.S. Please refer to www.SYMJEPI.com for additional product
information. Adamis is developing additional products,
including a naloxone injection product candidate, ZIMHI, for the
treatment of opioid overdose, and a metered dose inhaler and dry
powder inhaler product candidates for the treatment of asthma and
COPD. The company’s subsidiary, U.S. Compounding, Inc.,
compounds sterile prescription drugs, and certain nonsterile drugs
for use by hospitals, clinics and surgery centers throughout most
of the United States.
Adamis Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements include those that
express plans, anticipation, intent, contingencies, goals, targets
or future development and/or otherwise are not statements of
historical fact. These statements relate to future events or
future results of operations, including, but not limited to the
following statements: the existence of drugs that are in short
supply from time to time; the impact of the recent COVID-19
outbreak and overall economic outlook on the company’s present and
future operations, employees, suppliers, supply chain,
manufacturers and commercial partners; USC’s ability to manufacture
and supply products that are in short supply; the company's beliefs
concerning the ability of its product candidates to compete
successfully in the market; statements about strategies, objectives
and future goals and achievements; guidance regarding future
periods; and other statements concerning our future operations and
activities. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors, which may
cause Adamis' actual results to be materially different from these
forward-looking statements. There can be no assurance
regarding future demand for any products supplied by USC, USC’s
continued ability to supply such products, or any future revenues
derived from sales of such products. In addition,
forward-looking statements concerning our anticipated future
activities assume that we are able to obtain sufficient funding to
support such activities and continue our operations and planned
activities. As discussed in our filings with the Securities
and Exchange Commission, we may require additional funding, and
there are no assurances that such funding will be available if
required. In addition, we cannot assess the impact of each
factor on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking
statements. You should not place undue reliance on any
forward-looking statements. Further, any forward-looking
statement speaks only as of the date on which it is made, and
except as may be required by applicable law, we undertake no
obligation to update or release publicly the results of any
revisions to these forward-looking statements or to reflect events
or circumstances arising after the date of this press
release. Certain of these risks, uncertainties, and other
factors are described in greater detail in Adamis’ filings from
time to time with the SEC, including its annual report on Form 10-K
for the year ended December 31, 2019, and our subsequent
filings with the SEC, which Adamis strongly urges you to
read and consider, all of which are available free of charge on the
SEC's web site at http://www.sec.gov. Except to the
extent required by law, any forward-looking statements in this
press release speak only as the date of this press release, and
Adamis expressly disclaims any obligation to update any
forward-looking statements.
Contacts:
Mark FlatherSenior Director, Investor Relations& Corporate
CommunicationsAdamis Pharmaceuticals Corporation(858)
412-7951mflather@adamispharma.com
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