TherapeuticsMD Provides Business Update on COVID-19 Pandemic
March 16 2020 - 6:00AM
Business Wire
TherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative women’s
healthcare company, today provided an update on its business
operations as the COVID-19 situation evolves. At this time,
TherapeuticsMD continues to provide an uninterrupted supply of its
portfolio of products for patients. The company has activated
virtual options to ensure business continuity. In addition, the
company has taken action to support the health of its employees.
While TherapeuticsMD cannot predict the extent to which COVID-19
pandemic will continue to spread and how it will impact society and
business, the company will continue to do all that it can to meet
the needs of its patients and providers.
Supply of Products
- TherapeuticsMD does not anticipate a shortage of its products
due to COVID-19 at this time.
- The company already has sufficient inventory of finished
product in its warehouses to meet anticipated demand through at
least early third quarter of this year.
- Additionally, the company currently does not foresee any
interruption in its ability to continue to manufacture additional
product to be used beyond this period and has sufficient warehoused
active pharmaceutical ingredients for the continued manufacture of
its products.
- At this time, the company continues to have uninterrupted
wholesale and retail distribution of its products.
Remote Pharmacy and At Home Delivery Options
- TherapeuticsMD is prepared to provide continued access to its
products for patients.
- The company’s vitaCare Prescription Services patient model
assists patients in obtaining easy and convenient access to their
prescriptions for products at a retail pharmacy of their choice,
including via home delivery retail pharmacy options. Home delivery
is an attractive option during the COVID-19 outbreak.
- The company has also partnered with independent community
pharmacies and multiple third-party online pharmacies (such as
PillPack, PillClub and Simple Health) and telemedicine providers
(such as PlushCare) that focus on contraception or menopause to
ensure patients have real-time access to both diagnosis and
treatment.
- Patients or providers who have additional questions or concerns
or are having any difficulty accessing product should contact us at
1-800-350-3819 to speak to a vitaCare representative.
- Patients can also review COVID-19 guidance from the World
Health Organization or the U.S. Centers for Disease Control.
Field Promotion and Sales Force
- The company continues to support prescribers’ needs with
samples and product materials through its sales force. If access is
restricted, the company currently has mailing options in place for
these materials.
- In the event sales representatives are unable to promote in
physician offices, the company has business continuity plans and
infrastructure in place that allows for virtual detailing.
Employees and Community
- The health and safety of TherapeuticsMD’s employees remains a
top priority.
- The company has activated business continuity plans to avoid or
minimize business disruption.
- The company has suspended international business travel and
attendance at conferences and other large events.
- The company is supporting employees, including allowing
employees to work virtually by leveraging virtual meeting
technology.
- The company has implemented enhanced cleaning procedures and
visitor screening at company facilities.
About TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative, leading healthcare
company, focused on developing and commercializing novel products
exclusively for women. Our products are designed to address the
unique changes and challenges women experience through the various
stages of their lives with a therapeutic focus in family planning,
reproductive health, and menopause management. The company is
committed to advancing the health of women and championing
awareness of their healthcare issues. To learn more about
TherapeuticsMD, please visit www.therapeuticsmd.com or follow us on
Twitter: @TherapeuticsMD and on Facebook: TherapeuticsMD.
Forward-Looking Statements
This press release by TherapeuticsMD, Inc. may contain
forward-looking statements. Forward-looking statements may include,
but are not limited to, statements relating to TherapeuticsMD’s
objectives, plans and strategies as well as statements, other than
historical facts, that address activities, events or developments
that the company intends, expects, projects, believes or
anticipates will or may occur in the future. These statements are
often characterized by terminology such as “believes,” “hopes,”
“may,” “anticipates,” “should,” “intends,” “plans,” “will,”
“expects,” “estimates,” “projects,” “positioned,” “strategy” and
similar expressions and are based on assumptions and assessments
made in light of management’s experience and perception of
historical trends, current conditions, expected future developments
and other factors believed to be appropriate. Forward-looking
statements in this press release are made as of the date of this
press release, and the company undertakes no duty to update or
revise any such statements, whether as a result of new information,
future events or otherwise. Forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of the company’s control.
Important factors that could cause actual results, developments and
business decisions to differ materially from forward-looking
statements are described in the sections titled “Risk Factors” in
the company’s filings with the Securities and Exchange Commission,
including its most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as well as reports on Form 8-K, and include
the following: the effects of COVID-19; the company’s ability to
maintain or increase sales of its products; the company’s ability
to develop and commercialize IMVEXXY®, ANNOVERA®, BIJUVA® and its
hormone therapy drug candidates and obtain additional financing
necessary therefor; whether the company will be able to comply with
the covenants and conditions under its term loan facility,
including the conditions to draw an additional tranche thereunder
and whether the lender will make such tranche available; the
potential of adverse side effects or other safety risks that could
adversely affect the commercialization of the company’s current or
future approved products or preclude the approval of the company’s
future drug candidates; whether the FDA will approve the efficacy
supplement for the lower dose of BIJUVA; the company’s ability to
protect its intellectual property, including with respect to the
Paragraph IV notice letter the company received regarding IMVEXXY
and an abbreviated new drug application containing a Paragraph IV
certification that has been submitted to the FDA relating to
BIJUVA; the length, cost and uncertain results of future clinical
trials; the company’s reliance on third parties to conduct its
manufacturing, research and development and clinical trials; the
ability of the company’s licensees to commercialize and distribute
the company’s products; the ability of the company’s marketing
contractors to market ANNOVERA; the availability of reimbursement
from government authorities and health insurance companies for the
company’s products; the impact of product liability lawsuits; the
influence of extensive and costly government regulation; the
volatility of the trading price of the company’s common stock and
the concentration of power in its stock ownership. PDF copies of
the company’s historical press releases and financial tables can be
viewed and downloaded at it website:
www.therapeuticsmd.com/pressreleases.aspx.
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version on businesswire.com: https://www.businesswire.com/news/home/20200316005219/en/
Nichol Ochsner Vice President, Investor Relations 561-961-1900,
ext. 2088 Nochsner@TherapeuticsMD.com
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