Diplomat to Dispense Novartis Myeloma Drug FARYDAK®
Diplomat, the nation’s largest independent specialty pharmacy, to distribute the newly approved multiple myeloma drug FARYDAK®.
FLINT, Mich. — Feb. 25, 2015 — Diplomat Pharmacy, Inc. (NYSE: DPLO) announced today that the U.S. Food and Drug Administration has approved FARYDAK® (panobinostat) for the treatment of patients with multiple myeloma.
The drug is now a treatment option for patients with multiple myeloma who have received at least two prior regimens, including bortezomib and an immunomodulatory agent. FARYDAK® is indicated for use with bortezomib and dexamethasone.
Multiple myeloma is a cancer that forms malignant plasma cells in the bone marrow, producing abnormal proteins. According to the National Cancer Institute, each year about 21,700 Americans are diagnosed with multiple myeloma and 10,710 die from the disease. FARYDAK® works by inhibiting the activity of specific enzymes known as histone deacetylases (HDACs). This mechanism may slow the over-development of plasma cells in multiple myeloma patients or cause these dangerous cells to die.
“FARYDAK® offers a focused treatment to patients who have tried other therapies,” said Gary Kadlec, president of Diplomat. “We are excited to offer it to patients who need further support, to offer another line of defense and a new line of hope. We care deeply about our patients, and we’re ready with our high-touch model to support them.”
FARYDAK® is manufactured by Novartis Pharmaceuticals Corporation. Please see full prescribing information for FARYDAK® capsules, at http://www.pharma.us.novartis.com/product/pi/pdf/farydak.pdf.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to Diplomat’s distribution of the drug(s) set forth above (and any implied financial impact). The forward-looking statements contained in this press release are based on management’s good-faith belief and reasonable judgment based on current information, and these statements are qualified by important risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from those forecasted or indicated by such forward-looking statements. These risks include the number of patients prescribed such drug(s) currently and in the future, patient’s adherence to such drug(s), the number of distributors on panel and our relative distribution share, the timing of drug sales, the cost of such drug(s) and reimbursement rates by payors, drug competition, and the factors set forth in “Risk Factors” in Diplomat’s prospectus dated October 10, 2014 and in subsequent reports filed with or furnished to the Securities and Exchange Commission. Except as may be required by any applicable law, Diplomat assumes no obligation to publicly update such forward-looking statements, which are made as of the date hereof or the earlier date specified herein, whether as a result of new information, future developments or otherwise.
Diplomat (NYSE: DPLO) serves patients and physicians in all 50 states. Headquartered in Flint, Michigan, the company focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions. Diplomat opened its doors in 1975 as a neighborhood pharmacy with one essential tenet: “Take good care of patients, and the rest falls into place.” Today, that tradition continues—always focused on improving patient care and clinical adherence. For more information visit www.diplomat.is. Follow us on Twitter and LinkedIn and like us on Facebook.
Gary Rice, RPH, MS, MBA, CSP,
Vice President, Clinical Services
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Jenny Cretu, MBA, Vice President,
Marketing & Public Relations
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