Access Pharmaceuticals Provides Update on Increasing Payer Uptake for MuGard
DALLAS and NEW YORK, Oct. 13, 2011 /PRNewswire/ — ACCESS PHARMACEUTICALS, INC. (OTCBB: ACCP), a biopharmaceutical company leveraging its proprietary drug-delivery platforms to develop treatments in areas of oncology, cancer supportive care and diabetes, announced that the reimbursement for its lead product for oral mucositis, MuGard, has increased significantly over the past few months. Over the past few months, Access has more than doubled the amount of payers providing coverage for MuGard in the U.S.; growing from approximately 30 payers to over 70 payers and pharmacy benefit managers (PBM’s). MuGard continues being covered by these third party payer programs with standard pharmacy benefit copayment.
On the heels of its full-scale six month sampling initiative commenced less than a year ago, Access launched MuGard in the United States and focused its efforts on growing clinical experience, building demand and increasing reimbursement coverage. As recently announced, MuGard has received reimbursement from many networks of leading insurance companies and pharmacy benefit managers throughout the United States, including several Blue Cross Blue Shield state plans, Amerigroup, TRICARE, Harvard Pilgrim, Humana and Express Scripts. Since then, reimbursement has more than doubled and now includes payers such as several state Anthem plans, various Aetna and Cigna plans Assurant Health, Keystone, Wellspan Plus and additional BlueCross Blue Shield (BCBS) and United Healthcare state plans.
“We are pleased to see the execution of our integrated payer strategy moving us closer to nationwide reimbursement for MuGard,” said Anthony Mottola, VP Managed Care and Market Access, Access Pharmaceuticals, Inc. He continued, “The progress made within our Payer/PBM outreach programs continues to validate our efforts to advance reimbursement and market access for MuGard.”
MuGard is a novel; ready-to-use mucoadhesive oral wound rinse and coating for the management of oral mucositis, a debilitating side effect of many anticancer treatments. Up to 40% of all patients receiving chemotherapy and radiotherapy develop moderate to severe mucositis, and almost all patients receiving radiotherapy for head and neck cancer and those undergoing stem cell transplantation develop mucositis. Updated clinical practice guidelines for the prevention and treatment of mucositis recommend the use of a preventive oral care regimen as part of routine supportive care along with a therapeutic oral care regimen if mucositis develops. The market for the treatment of oral mucositis is estimated to be in excess of $1 billion world-wide. For more information, please visit www.MuGard.com.
Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes proprietary products for the treatment and supportive care of cancer patients. Access’ products include MuGard(TM) (www.MuGard.com), which has received FDA marketing clearance for the management of patients with mucositis, ProLindac(TM), a second generation DACH Platinum in Phase 2 clinical testing of patients with ovarian cancer, and Thiarabine(TM), a novel nucleoside analog that has demonstrated both pre-clinical and clinical activity in certain cancers; currently in a Phase 1/2a trial in hematological malignancies at M.D. Anderson Cancer Center in Houston, Texas.
The company also has other advanced drug delivery technologies including CobaCyte(TM)-mediated targeted delivery and CobOral-oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism. For additional information on Access Pharmaceuticals, please visit our website at www.accesspharma.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include those relating to: our cash burn rate, clinical trial plans and timelines and clinical results for ProLindac, MuGard, Thiarabine and Cobalamin and other product candidates, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited to Access’ need to obtain additional financing in order to continue the clinical trial and operations and to the risks detailed in Access’ Annual Reports on Form 10-K and other reports filed by Access with the Securities and Exchange Commission.
Contact: Company Contact: Investor Relations ---------------- --------------------------- Donald C. Weinberger/Diana Bittner Christine Berni (media) Director of Investor Relations Wolfe Axelrod Weinberger Assoc. LLC Access Pharmaceuticals, Inc. (212) 370-4500 (212) 786-6208
SOURCE Access Pharmaceuticals, Inc.