BOCA RATON, Fla.--(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.
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.