Generex Addresses the Opioid Crisis; Provides Proven, Non-Opioid Pain Management Solutions
MIRAMAR, Fla.--(BUSINESS WIRE)--Nov 7, 2018--Generex Biotechnology Corporation ( www.generex.com ) (OTCQB:GNBT) ( http://www.otcmarkets.com/stock/GNBT/quote ) is addressing the opioid crisis through its affiliate, NuGenerex Distribution Solutions (NDS), providing physicians and patients alternative, non-opioid solutions for post-surgical pain management.
Acute post-operative pain is prevalent in virtually all surgical patients. Failure to manage the pain adequately can lead to physical and psychological issues, including chronic pain syndromes and depression. While oral opioids are effective in controlling acute post-surgical pain, long-term use can cause a range of medical complications in addition to the potential for addiction. Because post-surgical pain is localized to the tissues surrounding the incision site, NDS offers a broad line of non-opioid, non-addictive topical analgesic pain-relieving formulations that provide many advantages over long-term opioid therapy, such as rapid onset of action, ease of application, and the ability to be site-specific.
Generex Chief Operating Officer Terry Thompson stated, “The success of the Veneto group, and one of the reasons we acquired its operating business, is predicated upon innovative solutions that address important and unmet medical needs. Almost every family has a very sad story related to addiction. Our recently acquired pharmacy network has been on the forefront of the battle against opioid addiction, delivering topical, non-opioid pain management solutions to patients as prescribed by their physicians. Through our pharmacy network and patient help desk, we have helped thousands of patients achieve post-operative pain control without the problems and risks associated with long-term opioid therapy, and we are excited at the prospects for expanding our network throughout the country.”
“Under the NDS model, non-opioid/non-addictive treatments help mitigate physicians’ overall liability risk while improving patient outcomes via targeted treatment directly to pain areas using topical analgesic products as opposed to pills that act systemically. Using industry-leading best practices, physicians no longer have to be concerned with patients following medication dosage or worry that patients sell the medication on the black market, ultimately reducing a physician’s regulatory burdens,” stated Moky Cheung, Chief Operating Officer of NDS. In addition, Mr. Cheung stated, “Our transparent reporting systems for physicians allow full monitoring of patient care once the patient leaves the office which increases patient care substantially. On the payers’ side, the Company’s use of non-opioid therapies mitigates insurance companies’ risks and reduces the costs associated with opioid use which include lab testing, constipation and nausea medications, as well as potential addiction, which can cost upwards of $100,000 or more for rehabilitation.”
Dr. Jason Terrell, MD, Chief Medical & Scientific Officer of Generex, provided his view, “I believe it is in line with the responsible practice of medicine to try to limit the possible complications from medications prescribed to control post-surgical pain. The threshold of pain in a majority of patients is so significant that the first-line treatment alternative has been to prescribe oral narcotics. With NDS offering safe and proven-effective, non-opioid alternatives, not only are patients satisfied with their care, but they can safely manage their pain without the inherent risks of opioid addiction. The effectiveness of our non-opioid pain management program has provided benefit for patients, physicians, and payers as we become part of the solution to the opioid crisis in America. Our alternative pain management solutions will continue to drive significant revenues for Generex as we seek to expand our non-opioid pain management program throughout 2019 into 20+ additional states.”
Cautionary Note Regarding Forward-Looking Statements
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as “expects,” “plan,” “believes,” “will,” “achieve,” “anticipate,” “would,” “should,” “subject to” or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.
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CONTACT: Generex Biotechnology Corporation
Joseph Moscato, 646-599-6222
Todd Falls, 800-391-6755, ext. 222
Alex Fudukidis, 646-942-5632
Caroline Cunningham, 212-845-4292
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: SURGERY HEALTH BIOTECHNOLOGY PHARMACEUTICAL
SOURCE: Generex Biotechnology Corporation
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PUB: 11/07/2018 09:00 AM/DISC: 11/07/2018 09:34 AM