Adamis Pharmaceuticals Provides Update on SYMJEPI Products
July 01 2020 - 9:00AM
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) today announced
that, on July 1, 2020, USWM, LLC (“USWM” or “US WorldMeds”) began
promoting Adamis’ SYMJEPI ® (epinephrine) Injection 0.3mg and
SYMJEPI ® (epinephrine) Injection 0.15mg products through its field
sales force. As contemplated by the previously announced
termination agreement between Adamis and Sandoz Inc., and the
previously announced exclusive distribution and commercialization
agreement between Adamis and USWM, USWM has been actively promoting
SYMJEPI while preparing to launch through its field sales force.
Adamis has also entered into a transition services agreement with
Sandoz and USWM, which is intended to minimize any potential impact
to patients and customers during the transfer of commercial rights
regarding the SYMJEPI products from Sandoz to US WorldMeds.
Dr. Dennis J. Carlo, President and CEO of Adamis, said, “We are
very excited that US WorldMeds is now actively promoting both
SYMJEPI products. Adamis has always believed that sales reps
calling on high-prescribing allergists and primary care physicians
was key to the success of SYMJEPI. I am very pleased those efforts
are underway and I believe the US WorldMeds commercial
infrastructure, combined with their expertise in acquiring and
turning around underperforming assets from larger pharmaceuticals
companies, bodes well for finally realizing the value of SYMJEPI in
the market.”
P. Breckinridge Jones, Sr., CEO of US WorldMeds, added, “We have
great expectations for SYMJEPI, and we plan to commit significant
sales and marketing resources to leverage our commercial effort.
SYMJEPI provides a unique alternative in the established
epinephrine market, one which we believe will benefit from our
enhanced focus. US WorldMeds is working closely with Sandoz to
minimize market disruption while we increase our commercial and
distribution efforts. We expect to complete the full transition
from Sandoz during the third quarter of 2020.”
About the SYMJEPI ProductsSYMJEPI ®
(epinephrine) Injection 0.3mg and SYMJEPI ® (epinephrine) Injection
0.15mg products are approved by the FDA for use in the emergency
treatment of acute allergic reactions, including anaphylaxis. In
July 2018, Adamis licensed commercial rights for the U.S. to Sandoz
Inc. On May 11, 2020, Adamis announced it was reacquiring
commercial rights from Sandoz and entering into an exclusive
distribution and commercialization agreement with US WorldMeds.
Please refer to www.SYMJEPI.com for additional product
information.
About Adamis PharmaceuticalsAdamis
Pharmaceuticals Corporation is a specialty biopharmaceutical
company primarily focused on developing and commercializing
products in various therapeutic areas, including respiratory
disease, allergy, and opioid overdose. The company’s SYMJEPI
(epinephrine) Injection 0.3mg and SYMJEPI (epinephrine) Injection
0.15mg products were approved by the FDA for use in the emergency
treatment of acute allergic reactions, including anaphylaxis.
Adamis is developing additional products, including a naloxone
injection product candidate, ZIMHI, for the treatment of opioid
overdose, and a metered dose inhaler and dry powder inhaler product
candidates for the treatment of asthma and COPD. The company’s
subsidiary, U.S. Compounding, Inc., compounds sterile prescription
drugs, and certain nonsterile drugs for use by hospitals, clinics,
and surgery centers throughout most of the United States.
About US WorldMedsUS WorldMeds is a privately
held specialty pharmaceutical company that develops, licenses, and
markets unique healthcare products designed to improve the lives of
patients with challenging conditions and unmet medical needs. US
WorldMeds has built a branded product portfolio in the therapeutic
areas of addiction medicine, malignant hyperthermia, and central
nervous system (CNS). In May 2020, the company acquired commercial
rights to Adamis’ SYMJEPI products in the U.S. market. On June 9,
2020, US WorldMeds completed the sale of its CNS division to
Supernus Pharmaceuticals, Inc. More information on US WorldMeds can
be found at USWorldMeds.com.
Adamis Forward Looking StatementsThis press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include those that express plans,
anticipation, intent, contingencies, goals, targets or future
development and/or otherwise are not statements of historical fact.
These statements relate to future events or future results of
operations, including, but not limited to, the following
statements: the outcome of transition services to be provided by
Sandoz pursuant to the transition services agreement; the success
of commercialization efforts by US WorldMeds regarding the SYMJEPI
products; and other statements concerning our future operations and
activities. Such forward-looking statements include those that
express plans, anticipation, intent, contingencies, goals, targets
or future development and/or otherwise are not statements of
historical fact. These statements are only predictions, are not
guarantees, involve known and unknown risks, uncertainties and
other factors, and concern matters that could subsequently differ
materially from those described in this press release, which may
cause Adamis’ actual results to be materially different from those
contemplated by these forward-looking statements. In addition,
forward-looking statements concerning our anticipated future
activities assume that we are able to obtain sufficient funding to
support such activities and continue our operations and planned
activities. As discussed in our filings with the Securities
and Exchange Commission, we may require additional funding, and
there are no assurances that such funding will be available if
required. We cannot assess the impact of each factor on our
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements. You should not place
undue reliance on any forward-looking statements. Further, any
forward-looking statement speaks only as of the date on which it is
made, and except as may be required by applicable law we undertake
no obligation to update or release publicly the results of any
revisions to these forward-looking statements or to reflect events
or circumstances arising after the date of this press release.
Certain of these risks, and additional risks, uncertainties, and
other factors are described in greater detail in our filings from
time to time with the SEC, including our annual report on Form
10-K for the year ended December 31, 2019, and our subsequent
filings with the SEC, which Adamis strongly urges you to read
and consider, all of which are available free of charge on the
SEC’s web site at http://www.sec.gov.
Contact Adamis:Mark Flather Senior Director,
Investor Relations& Corporate Communications (858)
412-7951mflather@adamispharma.com
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