We are pleased to have successfully managed through a difficult 2020. While the pandemic did have a significant impact on hospital admissions and physician office visits associated with many of our brands, we are fortunate to enjoy both a diversified product portfolio and customer base, which helped to mitigate the effect of these changes on our operations. At the start of the pandemic, we quickly adjusted our market strategies, retooled our sales communications and reinvented the way in which we operate our business. We developed new methods to interact with our customers and support the patients that need our medicines.
For example, we launched several national initiatives to help hospitals access our acute care brands. Hospitals around the country used our product Vibativ® to help treat COVID-19 patients who developed bacterial infections in their lungs. This FDA-approved, potent antibiotic is used to treat hospital- and ventilator-acquired pneumonia that can result from several infectious agents. It has been rewarding to hear stories where Vibativ successfully cured COVID patients of pneumonia.
Other developments from 2020 include:
- The national launch of our next generation Caldolor® product, featuring a ready-to-use formulation in a pre-mixed bag. This new delivery method offers significant savings in both cost and time.
- The initial introduction of our FDA-approved RediTrex® line of injectable methotrexate products, featuring an innovative delivery system for patients with arthritis.
As study sites and patient recruiting institutions reopen, we look forward to the completion of our paused clinical trials.
We have continued to monitor our supply chain closely – and, overall, it has remained intact, with batches of finished goods shipped to us and then onto the warehouses that supply our country’s hospital and retail pharmacies. There was one exception with our Omeclamox®-Pak product, as the facility packaging it encountered financial difficulties due to the pandemic and ultimately suspended operations. We are awaiting the resumption of their operations as they reorganize.
During 2020 we were able to maintain the compliance and reporting requirements that apply to us as a publicly traded, biopharmaceutical company, including hosting a successful FDA audit of our corporate facility and processes.
Following an incredible year of change for everyone, we remain steadfast in our commitment to emerging successfully from the pandemic. We are focused on maximizing the potential of our existing brands and building our portfolio of differentiated products.
The past year demonstrated the dedication, innovation and resilience of our team, and we look forward to building upon that strong foundation in 2021. Together, we remain focused on our mission: to advance patient care through the delivery of high-quality medicines.
