Healthcare Industry News: Bayer HealthCare Pharmaceuticals
News Release - November 20, 2007
Bayer HealthCare Pharmaceuticals and MedAssets Supply Chain Systems Sign a Three-Year Agreement for Magnevist(R) Magnetic Resonance Contrast MediaWAYNE, N.J., Nov. 20 (HSMN NewsFeed) -- Bayer HealthCare Pharmaceuticals, Inc a leader in diagnostic imaging, announced today that the company has been awarded a three-year contract by MedAssets Supply Chain Systems, one of the nation's largest group purchasing organizations, to provide Magnevist® (gadopentetate dimeglumine) Injection contrast media to members of the MedAssets network. MedAssets serves more than 125 health systems, including 2,500 hospitals and 30,000 non-acute care healthcare providers.
This is the first time that Magnevist has been awarded a contract with MedAssets Supply Chain Systems. With this agreement, Magnevist is now on contract or has agreements with nearly all of the major GPOs in the United States.
"We are delighted that MedAssets Supply Chain Systems has awarded a three- year contract to Bayer HealthCare Pharmaceuticals for Magnevist, and we are excited by the potential of this new relationship," said Douglas Stefanelli, Vice President and General Manager, Diagnostic Imaging, Bayer HealthCare Pharmaceuticals. "We look forward to providing the customers of MedAssets and its healthcare providers with both our high quality product and with our high- level of customer support."
The agreement is effective November 1, 2007, 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.
MedAssets partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency.
Magnevist is the leading MRI contrast agent with the broadest range of FDA approved indications for adult and pediatric patients. For a 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 U.S., 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
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