Mediware releases CareTrend for specialty pharmacies
BY DSN STAFF
LENEXA, Kan. — Healthcare software company Mediware Information Systems announced Wednesday that its CareTrend platform is now available for specialty pharmacies. The new platform looks to simplify prescription procession, pharmacy workflow, reimbursement and reporting.
CareTrend allows users to manage their entire workflow operations from a single dashboard that can track output and identify delays while tracking employee productivity in real time. The platform also includes expanded workflow queues that pharmacists can use to increase daily processing through quick-fill options and streamlined order management. CareTrend can also provide customized reporting to meet customer needs.
“We have incorporated customer feedback into our CareTend solution so that today’s specialty pharmacies can thrive using the only complete system designed for this market, “ VP and general manager of Mediware’s home care solutions division, Paul O’Toole, said. “From intake to dispensing to working and reporting, our suite eliminates the need for multiple systems by having everything in one integrated solution.”
Mayne Pharma closes acquisition of Teva, Allergan products
GREENVILLE, N.C. — Mayne Pharma recently announced that it had closed its $652 million acquisition of 42 products from Teva and Allergan. The portfolio includes 37 approved products and five products currently awaiting approval. The acquisition makes Mayne Pharma one of the 25 largest retail generic pharmaceutical companies in the United States and the second-largest generic oral contraceptive provider, the company said.
“We are extremely pleased to complete this transaction that establishes Mayne Pharma as a key player in the U.S. generic market,” president Stefan Cross said. “This portfolio is highly profitable and will significantly extend our size, scale and reach in the United States. Recent investments in people, systems and facilities will readily support the rapidly growing organization and ensure we continue to deliver exceptional service and high-quality products to our customers.”
The company has recently invested in a new manufacturing facility in Greenville, N.C., that will increase its manufacturing capacity by a factor of more than four. It has also grown its workforce by more than 700 employees globally.
The products acquired include the following in different dosage strengths.
- Amethia Lo
- Caziant Tablets
- Clarithromycin Ext Release
- Dextroamphetamine Sulfate ER
- Disopyramide Phosphate
- Methylphenidate ER
- Microgestin 1/20
- Microgestin Fe 1/20
- Microgestin 1.5/30
- Microgestin Fe 1.5/30
- Nortriptyline Hydrochloride
- Tamoxifen Citrate
- Tilia Fe
Diplomat reports Q2 results, including 35% total revenue gain
BY DSN STAFF
FLINT, Mich. — Diplomat Pharmacy on Tuesday announced the results of its second quarter, reporting total revenue of $1.09 billion, a 35% increase over the same quarter in 2015.
Net income attributable to Diplomat was $8.5 million, a 152% increase over the same quarter last year, due partially to lower interest expense and a lower income tax rate for the period than the same one last year. Adjusted earnings before interest taxes, depreciation and amortization were $29.6 million, up from $22.7 million for the quarter last year. Diplomat’s gross profit grew to $83.3 million, up from $69.7 million last year, but the margin percentage dropped one percentage point from last year to 7.6%.
“While our overall business was impacted by a slowing hepatitis C market, the remainder of our business was strong, growing almost 30% organically,” Diplomat chairman and CEO Phil Hagerman said. “This growth was driven by our oncology business increasing 38% and our specialty infusion segment growing by 22%.
The company reported organic revenue growth of 23% that the company attributes to $64 million in revenue from new drugs, $63 million from manufacturer price increases, and $57 million from a richer mix of already existing drugs. Another $96 million came from the company’s recent acquisitions, including about a quarter’s worth of revenue from Burman’s Apothecary and a month’s revenue from TNH Advanced Specialty Pharmacy. The company dispensed 241,000 prescriptions in Q2, up 3% from last year.
“Overall prescription growth was much stronger than the 3% implies, as we exited the high volume, low profit compounding business in late 2015 and we intentionally moved away from other high volume, low revenue non-specialty business,” Hagerman said.
The company adjusted its guidance for the full-year 2016, raising the lower end of its adjusted earnings per share guidance to between $0.90 and $0.95 from $0.88 to $0.95.
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