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HONEY BROOK, Pa., March 12, 2024 /PRNewswire/ -- Provell Pharmaceuticals, a healthcare company that distributes world-class, branded drugs at generic prices by eliminating middlemen markups, today announced a partnership with Mark Cuban Cost Plus Drug Company, PBC (Cost Plus Drugs) to offer patients direct access to a leading hypothyroid drug, Euthyrox®, at low-cost prices on the Cost Plus Drugs online platform. Euthyrox (levothyroxine sodium) is one of the most widely prescribed drugs worldwide¹ to treat hypothyroidism, available in over 110 countries and FDA approved in 2018. It is now offered in the U.S. through Cost Plus Drugs and in retail pharmacies.

"Our mission is to remove the cost barrier for millions of Americans, regardless of insurance coverage, who need quality medications but who often cannot afford them due to markups imposed by a variety of players in the U.S. healthcare landscape," said Steve Hodge, CEO at Provell Pharmaceuticals. "By working directly with online platforms such as Cost Plus Drugs, which shares our vision to make drugs affordable and accessible to all, we are disrupting the traditional model and conferring significant savings to patients."

Currently, the U.S. healthcare system consists of complex pricing mechanisms, for both brand and generic medications, that artificially inflate prices. In an emerging new model, companies such as Provell Pharmaceuticals create partnerships with manufacturers to bring well established, globally recognized drugs through the FDA approval process and introduce them to the U.S. market. Bypassing the intermediaries that impose these often-convoluted pricing structures on the U.S. healthcare system enables Provell to offer name brand products at low prices to consumers and physicians.

"Drug prices continue to rise exponentially, and it's an unsustainable trend that is extracting a huge toll on the health and well-being of many Americans," said Alex Oshmyansky, MD, PhD, CEO and Co-Founder of Cost Plus Drugs.

"We've developed an alternative model -- and are partnering with like-minded companies such as Provell Pharmaceuticals—to offer prescription drugs directly to consumers at a fraction of the cost by showing consumers exactly what the drugs cost, exactly what our margin is, and exactly what consumers will pay.  It's fair, transparent, and is dramatically less expensive for patients."

Low-Cost Model is Gaining Traction

Euthyrox is the latest example of a branded drug that would be prohibitively expensive if sold through traditional U.S. pricing models.  But, under Provell Pharmaceuticals' unique business model—a lean structure with less than 10 employees, no sales force, and direct licensure of Euthyrox from Merck KGaA, Darmstadt, Germany—overhead is exponentially lower compared to a traditional pharmaceutical company.

"Not only is the size and scope of Provell lean and nimble, but the massive scale and power of Merck KGaA, Darmstadt, Germany as one of the world's largest pharmaceutical manufacturers provides economies of scale that are difficult to match," said Hodge.  "We want to give autonomy back to the provider and the patient to not only know where their medicine comes from but also treat their disease with low-cost branded drugs that are effective and affordable for all."

Euthyrox is Provell's first licensed drug for marketing and distribution in the U.S., but future plans include additional legacy brands and specialty pharmaceutical products.  As with Euthyrox^®, each newly licensed drug will undergo rigorous testing required by the FDA to ensure bioequivalence with competitor drugs on the market.  Provell Pharmaceuticals has also invested in the higher cost of blister packaging to preserve the potency of Euthyrox and ensure a consistent therapeutic dosage is delivered in every pill.  This attention to preserving potency is especially important in this class of drug which is deemed a narrow therapeutic index (NTI) category by the FDA.  Recent studies have shown the benefits of blister packaging preserving tablet potency better than traditional pharmacy bottles used in the US.²

About Provell Pharmaceuticals

Provell Pharmaceuticals is a U.S. healthcare company that markets and distributes world-class, branded pharmaceutical products at low-cost, generic prices through a disruptive business model that eliminates costly markups from pharmacy benefit management (PBMs) and insurers in order to save patients money on their medications.  By partnering with European drug manufacturers to distribute their drugs directly to U.S. consumers, Provell Pharmaceuticals is able to remove costs barriers that prevent patients from accessing the prescription drugs they need.  Direct sourcing from Europe allows for Trade Agreement Act (TAA) compliance and mitigates supply chain risks posed by unforeseen global events.  Provell Pharmaceuticals is currently licensed to market and distribute Euthyrox, a branded drug to treat hypothyroidism, throughout the U.S.

About Euthyrox

Please refer to the full prescribing label and important safety information:

https://www.euthyrox-us.com/downloads/Euthyrox-US-Prescribing-Information.pdf

References: 1. Data on file. Merck KGaA, Darmstadt, Germany. 2. Chun J. Stability of levothyroxine tablets in blister packaging versus bottles and vials under simulated in-use conditions. AAPS Open. 2022;8:15. Accessed January 14, 2023. https://doi.org/10.1186/s41120-022-00062-5

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Related Links:

https://www.provellpharma.com/

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SOURCE Provell Pharmaceuticals LLC