BioDelivery Sciences International, a Raleigh-based pharmaceuticals company, announced Monday three new managed care contracts signed for one of its flagship therapeutic drugs.
The drug is called Bunavail, and the Food and Drug Administration approved it in 2014 to help treat patients dependent on opioids.
The company attributes the contracts this year to new business strategies. It announced in May a decision to cut spending on the drug by $20 million before the end of 2017 and focus its sales force on its most fruitful geographies across the U.S.
It also attributed some of Bunavail’s success to a decision by the U.S. Department of Health and Human Services to no longer limit the number of doctors able to prescribe the drug.
- VIDEO: Watch an overview video about Bunavail at: https://www.youtube.com/watch?v=7fp-xaiWjSY
“We view these successes as an indication that our product differentiation and anti-diversion messaging is beginning to resonate with managed care plans,” added chief executive officer Mark A. Sirgo. He also said the company expects to see profits from Bunavial by the end of 2017.
BioDelivery’s stock price rose 2.52 percent, or 6 cents, from last week to $2.44.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism