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Wednesday, October 30, 2013
Some Important FACT! re: pharma marketing settlements
The recent slew of pharma marketing settlements with the Department of Justice goes to show that there's room for improvement when it comes to curbing dishonest advertising. Over the past decade, drugmakers have agreed to pay close to $14 billion in penance for off-label and safety-related claims. But for some companies, those settlements haven't deterred repeat misbehavior. Pfizer ($PFE), for one, has wrapped two marketing settlements for north of $400 million: one in 2004 totaling $430 million for promotions of seizure drug Neurotonin, and another in 2009 worth $2.3 billion--including a record-setting $1.3 billion in criminal penalties--over Bextra, Geodon, Zyvox and Lyrica.
Read more: UPDATED: FDA aims to train docs to spot misleading drug ads--and report them - FiercePharma http://www.fiercepharma.com/story/fda-aims-train-docs-spot-misleading-drug-ads-and-report-them/2013-10-29#ixzz2jDkkAhOu
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Read more: UPDATED: FDA aims to train docs to spot misleading drug ads--and report them - FiercePharma http://www.fiercepharma.com/story/fda-aims-train-docs-spot-misleading-drug-ads-and-report-them/2013-10-29#ixzz2jDkkAhOu
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UPDATED: FDA aims to train docs to spot misleading drug ads--and report them October 29, 2013 | By Carly Helfand Read more: UPDATED: FDA aims to train docs to spot misleading drug ads--and report them - FiercePharma http://www.fiercepharma.com/story/fda-aims-train-docs-spot-misleading-drug-ads-and-report-them/2013-10-29#ixzz2jDk0EkQ0 Subscribe at FiercePharma
Third Question of the Day October 30, 2013 If you are traditional compounding pharmacy that does not wish or are financially able to become an outsourcing facility should you be looking to cut bait and SELL to a larger group like Mesa is selling to PAWS? Do you think the window of opportunity for selling will probably be a small one after federal compounding legislation passed?
Second Question of Day October 30, 2013 How many veterinary colleges and ce covers education of veterinarians on violations of federal and state criminal laws relating to compounding, prescriptions, health care, HIPPA etc? How many associations that represent vets make sure the members are educated in this area?
Don't Think I Can Post This Important Message from New Mexico Board of Veterinary Medicine Too Many Times--Not only does it violate the state's regs--it may also violate federal criminal laws!!
IMPORTANT MESSAGE FROM THE BOARD:
The Board continues to be notified of the solicitations to veterinarians for the purchase of drugs for re-sale to companies offering an incentive of paying a percentage of the sales of the drugs to the veterinarian ordering the drugs. Be advised, this type of dispensing of prescription drugs is in violation of the Board's Rules and Regulations, specifically:
16.25.9.17 A. No legend or controlled drug shall be prescribed, dispensed, or administered without the establishment of a veterinary-client-patient relationship.
COMPOUNDING VETERINARIAN PRODUCTS:
The Board of Pharmacy has provided clarification concerning the compounding of veterinarian products. Please click on the link to view the Board of Pharmacy's Regulation concerning this topic.
Did I just read this right--PDC gets a royalty on collection for each prescription filed by MESA? Really?
PDC will be paid a royalty on collection for each prescription filled by MESA as well as receiving 500,000 shares of PAWS Series D Convertible Preferred Stock. The parties will begin the process of transferring MESA’s license from PDC to PAWS as soon as possible and the transaction is intended to close upon the issuance of a new California pharmacy license or sooner. PDC has the right to appoint three members to the Board of Directors as soon as the new license is issued and the audit of MESA’s operations is completed.
MUST READ--Look at these numbers on orders and sales--Here is actual Press Release that Explains Paws will now purchase Mesa: The PAWS Pet Company, Inc. Executes Agreement to Acquire MESA Pharmacy, Inc. 29 October 2013 The PAWS Pet Company, Inc. Executes Agreement to Acquire MESA Pharmacy, Inc. Orders expected to exceed $25 Million in 2014
The PAWS Pet Company, Inc. Executes Agreement to Acquire MESA Pharmacy, Inc.
- 29 October 2013 by admin0 Comments
PALO ALTO, CA, Oct. 29, 2013 /PRNewswire via COMTEX/ — The PAWS Pet Company, Inc. (OTCQB:PAWS), announced it has executed an agreement to acquire MESA Pharmacy, Inc. as part of its new strategy to become a dominant player in the delivery of compounded pharmaceutical products to consumers.
The PAWS Pet Company, Inc. (OTCQB:PAWS) has executed an agreement to acquire MESA Pharmacy, Inc. (MESA) from its parent, Pharmacy Development Corp. in exchange for preferred stock. PAWS will be filing a report on Form 8-K within the next few days. Previously, the Company had announced that it and PDC had determined to enter into a joint venture, however progress on PDC/MESA’s audit has been much better than anticipated and the parties have determined that purchasing MESA would be better for all of the parties and their respective shareholders.
MESA focuses on providing custom compounded non-narcotic, transdermal topical pain medications that are marketed to industrial health physicians and clinics. MESA has developed a series of topical ointments, in different strengths, that provide the pain relief doctors seek.
During the current month, according to MESA, it has received more than $3,400,000 in orders and filled more than $1,500,000 in actual prescriptions. MESA believes that it is on track to exceed $25,000,000 in revenues during fiscal year 2014 with much greater revenues a very real possibility.
PDC will be paid a royalty on collection for each prescription filled by MESA as well as receiving 500,000 shares of PAWS Series D Convertible Preferred Stock. The parties will begin the process of transferring MESA’s license from PDC to PAWS as soon as possible and the transaction is intended to close upon the issuance of a new California pharmacy license or sooner. PDC has the right to appoint three members to the Board of Directors as soon as the new license is issued and the audit of MESA’s operations is completed.
Furthermore, the holders of a majority of the Company’s Series B Convertible Preferred Stock shares have agreed to vote to reduce the maximum conversion rate in order to offset the new Series D stock, on a fully diluted basis.
Additionally, PAWS intends to spin off its remaining airline related properties, freeing the Company of much of its debt and further intends to settle most of its remaining debt in the very near future.
“We are excited about these developments, for our company and our shareholders, and we believe with MESA’s great team, a great foundation for future growth is set”, said Dan Wiesel CEO of The PAWS Pet Company. He continued, “With the execution of this agreement, the way forward for PAWS is clear and we will now focus on completing the licensing process, domesticating the Company in Nevada and changing our name to Praxsyn Corporation.”
About The PAWS Pet Company, Inc.
The PAWS Pet Company, Inc. is undergoing a transition from the pet space to the pharmaceutical space. This exciting transition strategy has been developed to take advantage of the changes underway in traditional medical services. PAWS believes that great opportunities exist in pharmaceuticals and how they are delivered to the public.
For more information on The PAWS Pet Company go to www.thepawspetcompany.com For more information on Pharmacy Development Inc. go to www.pharmacydevelopment.com Company Contact: ir@thepawspetcompany.com
Forward-Looking Statements
Certain statements made in this press release are forward-looking in nature (within the meaning of the PrivateSecurities Litigation Reform Act of 1995) and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated and consequently, you should not rely on these forward-looking statements as predictions of future events. Certain of these risks and uncertainties are discussed in the reports we filed with the SEC.
SOURCE The PAWS Pet Company, Inc.
Update on Previous Posted: But another reminder of what is happening in the compounding pharmacy world with buying and expanding...Mesa had sales in excess of $25,000,000 in sales and is on track to exceed $10,000,000; 250 million compounding prescriptions are written each year in the U.Sin fiscal year 2013.
New Crowd Favorite *PAWS* to Acquire Mesa Pharmacy! Full Report Inside…
PAWS announced it has executed an agreement to acquire MESA Pharmacy, Inc. as part of its new strategy to become a dominant player in the delivery of compounded pharmaceutical products to consumers.Pharmacy Development Corp. (“PDC”) was established in 2007 to expand the already existing chain of Mesa Pharmacy stores, further expand its pharmacy Compounding practice and continue the production and promotion of its private label whole food supplement line. PDC currently has two operating subsidiaries in Mesa Pharmacy, Inc. (“MPI”), a chain of pharmacies, and Life Genix, Inc (“LGI”), a whole food supplements company.
MESA focuses on providing custom compounded non-narcotic, transdermal topical pain medications that are marketed to industrial health physicians and clinics. MESA has developed a series of topical ointments, in different strengths, that provide the pain relief doctors seek. Read More… [ http://clicks.aweber.com/y/ct/l=DFs9Q&m=3iB0_pZAP.WJIAj&b=9fYSoyrlwm2ky4ZzFQ041Q ] Many physicians are concerned about prescribing oral controlled narcotic pain medication such as Oxycontin or Vicodin to their patients and are looking for an alternative delivery system. Using only FDA approved medications, MESA has developed a series of topical ointments, in different strengths, that provide the pain relief doctors seek.Compounding, where the pharmacist individually mixes the drugs, is a long established tradition in the pharmacy industry. 250 million compounding prescriptions are written each year in the U.S. and in 2009, in California alone, pharmacies were paid $340 million by insurance companies representing employers with injured workers.
What is compoundingCompounding is the mixing of drugs by a compounding pharmacist to fit the unique needs of a patient. Mesa Pharmacy provides customized compounds for pain management, bio-identical hormone replacement therapy and much, much more.
Mesa Pharmacy produces its custom compounds for pain management therapy and hormone replacement therapy at its Irvine retail pharmacy location. The Irvine facility has the capability of handling thousands of compounding prescriptions per month.
Compounding Benefits * Effective for neuropathic pain.
* Non-steroidal anti-inflammatory.
* Produces a heating sensation that interferes with neurotransmitter.
* Stimulates circulation and causes a cool and soothing effect.
* Gel based for maximized absorption.
Follow the CROWD and quickly put PAWS on your WATCH LIST! During the past three years, Mesa generated more than $25,000,000 in sales and is on track to exceed $10,000,000 in fiscal year 2013.
http://clicks.aweber.com/y/ct/l=DFs9Q&m=3iB0_pZAP.WJIAj&b=HdRR2UfkM2uJ4X2tFiiR_w Always do your own due diligence…
Happy Trading! Sincerely, PennyStockCrowd.com [
Read more: http://www2.thestockmarketwatch.com/newsletters/2013/10/30/new-crowd-favorite-paws-to-acquire-mesa-pharmacy-full-report-inside/#ixzz2jDX8rnYd
KUDOS! Alabama State Board of Pharmacy Takes on Non-Resident Compounding Pharmacies Also.
Non-Resident Pharmacies:
APOTHECURE, INC., #113027
PERMANENTLY REVOKED, assessed monetary fine of $20,000.00
INSTITUTIONAL PHARMACY SOLUTIONS, #113800/201931
Assessed monetary fine of $1,000.00.
CHRONISCRIPT, A WALGREENS PHARMACY #113819/201945
SUSPENDED 24 months; assessed monetary fine; shall revert to PROBATION after fine paid and compliant with PDMP.
KG PHARMACY, #113058/201607
Assessed monetary fine of $1,000.00.
SUMMIT PHARMACY, INC., #113820/201946
Assessed monetary fine of $1,000.00.
CORAM ALTERNATE SITE SERVICES, Permit #113198/201672
Assessed administrative fine of $1,000.00 to be paid within 10 days.
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