Ritzman sells Rx business to CVS Pharmacy
Ritzman Pharmacy announced today that it is selling its 20 retail pharmacies to CVS Pharmacy.
Ritzman Pharmacy primarily services markets in Northeast Ohio. CVS Pharmacy plans to operate in the same locations with the same staff in the Akron and Berlin stores.
The Ritzman Pharmacy locations in Rittman, Shreve, Sugarcreek, Wooster Milltown, Medina River Styx, Millersburg, Barberton, Wadsworth, Norton, Seville, Green, Wooster Downtown, Ashland, Orrville, Medina Forest Meadows, Dover, and Jackson will close and all pharmacy files will be transferred to nearby CVS Pharmacy stores.
Ritzman Pharmacy is withdrawing its participation in their joint venture pharmacy with Northeast Ohio Medical University. NEOMED will be reviewing its options for how they will handle the pharmacy business, according to the company.
CVS Pharmacy’s acquisition of Ritzman Pharmacy is expected to be completed by the end of February. The companies are working closely together to ensure the transition will be seamless for customers and their access to pharmacy care is not interrupted.
CVS Pharmacy also expects to interview any Ritzman Pharmacy employee who is interested in joining the CVS Pharmacy team.
Ritzman owns a management company, VAR, that will continue its management of Summa’s Home Infusion.
“This has been a lengthy process for Ritzman Pharmacy,” Ritzman president and CEO Eric Graf said, “including engaging the investment community, local and national chains, as well as private equity. We have worked hard to sustain the independently operated community pharmacy model and are disappointed to bring it to a close, but it is time to pass our retail business to a company with more resources.”
“While change is always difficult, especially after almost 70 years in business, customers and patients will benefit from having a wide range of products and services available, and continued pharmacy care,” Graf said.
“The Ritzman Pharmacy owners extend a heartfelt expression of gratitude to the patients, customers, associates and communities who have supported Ritzman Pharmacy for these many years. “We wish our customers, our associates and their families a healthy future,” Graf said.
“CVS Pharmacy knows that Ritzman Pharmacy has been providing trusted pharmacy care for its patients for decades, and we are excited to continue that tradition,” CVS Pharmacy division vice president Everett Moore said. “We are looking forward to introducing our industry-leading products and services to Ritzman patients and are committed to ensuring that their pharmacy needs are not only met, but exceeded.”
Pliaglis’ ‘Not for Home Use’ label restriction gets green lighted
Crescita Therapeutics has received the green light from the Food and Drug Administration for removal of the “Not for Home Use” label restriction for Pliaglis.
“We are delighted with the approval of this label change by the FDA. It marks a significant milestone as it will expand the ability of patients to have access to the drug and will facilitate our partner’s efforts to increase market acceptance of Pliaglis in the U.S.,” Cresctia president and CEO, Serge Verreault said.
Pliaglis, a lidocaine and tetracaine (7%/7%) formulation, is a topical local anesthetic cream that provides safe and effective local dermal anesthesia on intact skin prior to superficial dermatological procedures, such as dermal filler injection, pulsed dye laser therapy, facial laser resurfacing and laser-assisted tattoo removal, according to the company.
Taro launched the product in the United States in the first quarter of 2018.
Braeburn’s Brixadi gets tentative approval
Camurus’ U.S. partner, Braeburn has received tentative approval from the Food and Drug Administration for Brixadi (buprenorphine) extended-release injection for subcutaneous use, in 8 mg, 16 mg, 24 mg, 32 mg (weekly) and 64 mg, 96 mg, 128 mg (monthly) dosage strengths.
The product is for the treatment of moderate-to-severe opioid use disorder, or OUD in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already being treated with buprenorphine.
“Braeburn remains committed to take appropriate actions with a goal of providing US patients with OUD rapid access to a much needed, innovative long-acting treatment with flexible individualized dosing and potential to reduce the detrimental impacts of the ongoing opioid crisis,” Camurus president and CEO, Fredrik Tiberg said. “The US tentative approval follows closely after the regulatory approvals of our weekly and monthly buprenorphine depots, Buvidal, in Europe and Australia and provides additional validation of our innovative FluidCrystal technology.”