Healthcare Industry News: Bayer HealthCare
News Release - November 8, 2007
Bayer HealthCare Pharmaceuticals, HealthTrust Purchasing Group Sign a Three-Year Renewal Agreement for Magnevist(R) Magnetic Resonance Contrast MediaWAYNE, N.J., Nov. 8 (HSMN NewsFeed) -- Bayer HealthCare Pharmaceuticals Inc., a leader in diagnostic imaging, announced today that the company has been awarded a three-year contract renewal by HealthTrust Purchasing Group, LP (HealthTrust), to make Magnevist® (gadopentetate dimeglumine) Injection available to members of the HealthTrust network.
With more than 50 percent of the U.S. market share, Magnevist is the leading magnetic resonance imaging (MRI) contrast agent in the United States and world-wide. It is used to enhance certain MRI procedures, and has the broadest range of FDA approved indications of any MRI contrast agent for adult and pediatric patients.
For the past seven years, Berlex, Inc. has provided the HealthTrust membership with MRI contrast media. Berlex is now part of Bayer HealthCare Pharmaceuticals as a result of Bayer's acquisition of Berlex's affiliate, Schering AG Germany. The new agreement calls for Bayer HealthCare Pharmaceuticals to continue as a provider of MRI contrast media to HealthTrust for the next three years.
HealthTrust Purchasing Group, headquartered in Brentwood, Tennessee, is a group purchasing organization that supports over 1300 not-for-profit and for- profit acute care hospitals, 430 ambulatory surgery centers, nearly 2500 physician practices, as well as over 3000 alternate care sites. With an annual purchasing volume by its members of more than $13 billion, HealthTrust is committed to obtaining the best price for clinically-recommended products, ensuring their timely delivery and continuously evaluating and improving its services to the patients, physicians and clinicians it serves.
"We are pleased that HealthTrust is continuing its long-standing relationship with Bayer HealthCare Pharmaceuticals. We value our association with HealthTrust, and consider the renewal of our agreement a testament to the quality of products we offer and to the outstanding customer service our sales force strives to provide to the HealthTrust membership and their patient community," said Douglas Stefanelli, Vice President and General Manager, Diagnostic Imaging, Bayer HeathCare Pharmaceuticals.
The agreement, which was effective September 1, 2007, extends through August 31, 2010, and includes 5, 10, 15 and 20 mL single-dose vials, 50 and 100 mL pharmacy bulk packages, and 10, 15 and 20 mL pre-filled syringes of Magnevist.
Magnevist is currently the leading MRI contrast agent with the broadest range of FDA approved indications for adult and pediatric patients. For more information about approved indications, please visit http://www.imaging.bayerhealthcare.com/html/magnevist/prescribing_info.html. Magnevist is currently the leading MRI contrast agent in the US and worldwide, a position attained through a combination of high product quality and outstanding customer service. Since its introduction, Magnevist has been used in over 80 million procedures worldwide and continues to be the most studied MRI contrast agent on the market.
WARNING: NEPHROGENIC SYSTEMIC FIBROSIS
Gadolinium-based contrast agents increase the risk of Nephrogenic Systemic Fibrosis in patients with:
-- acute or chronic severe renal insufficiency (glomerular filtration rate <30 mL/min/1.73 m2), or
-- acute renal insufficiency of any severity due to the hepato-renal syndrome or in the perioperative liver transplantation period.
In these patients, avoid the use of gadolinium-based contrast agents unless the diagnostic information is essential and not available with non- contrast enhanced magnetic resonance imaging (MRI). NSF may result in fatal or debilitating systemic fibrosis affecting the skin, muscle and internal organs. Screen all patients for renal dysfunction by obtaining a history and/or laboratory tests. When administering a gadolinium-based contrast agent, do not exceed the recommended dose and allow a sufficient period of time for elimination of the agent from the body prior to any readministration.
MAGNEVIST® (gadopentetate dimeglumine) injection: As with other contrast media, the possibility of serious or life-threatening anaphylactic or anaphylactoid reactions, including cardiovascular, respiratory and/or cutaneous manifestations, should always be considered. As with other paramagnetic contrast agents, caution should be exercised in patients with renal insufficiency, due to the possibility of further deterioration in renal function. As with other injectable products, cases of phlebitis and thrombophlebitis have been reported; assessment of the dosed limb for the development of injection site reactions is recommended.
Safety and efficacy in children under the age of 2 years have not been established.
About Bayer HealthCare Pharmaceuticals
Bayer HealthCare Pharmaceuticals Inc. is the U.S.-based pharmaceuticals unit of Bayer HealthCare LLC, a division of Bayer AG. One of the world's leading, innovative companies in the healthcare and medical products industry, Bayer HealthCare combines the global activities of the Animal Health, Consumer Care, Diabetes Care, and Pharmaceuticals divisions. In the US, Bayer HealthCare Pharmaceuticals comprises the following business units: Women's Healthcare, Diagnostic Imaging, Specialized Therapeutics, Hematology/Cardiology and Oncology. The company's aim is to discover and manufacture products that will improve human health worldwide by diagnosing, preventing and treating diseases.
This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
Source: Bayer HealthCare Pharmaceuticals
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