BRIDGEWATER, N.J., Oct. 17, 2016 (GLOBE NEWSWIRE) -- Valeritas Holdings, Inc. (OTCQB:VLRX) announced today that it has been awarded a Cardinal Health Supply Chain Excellence Award for the third consecutive year. The award was presented at Cardinal Health, Inc.’s annual Business Partners Conference in Columbus, Ohio.
The Company also announced today that Valeritas will continue its participation on the Cardinal Health Supplier Advisory Board. Kathy Lang, Senior Director, Trade Relations at Valeritas, will serve as manufacturer co-chair of the Board which is comprised of ten core members who make recommendations to Cardinal to improve supplier relations and maintain high standards of achievement.
Cardinal Health, Inc. is a leading health-care services company that works to improve the cost-effectiveness of health care. Cardinal provides pharmaceuticals and medical products and services to more than 100,000 locations each day and is also the industry-leading direct-to-home medical supplies distributor. Candidates for the Cardinal Health Supply Chain Excellence Award were judged across a variety of metrics specifically targeted at the importance of developing collaborative relationships with manufacturers and providing exceptional service to each and every one of Cardinal’s valued business partners. Approximately 10% of the 800 eligible manufacturers received awards.
John Timberlake, President and Chief Executive Officer of Valeritas, said, “This award, together with our continued presence on the Cardinal Health Supplier Advisory Board, is a testament to our steadfast commitment to partnering with V-Go® suppliers and distributors to ensure V-Go users have easy and dependable access to the V-Go Disposable Insulin Delivery device. Partnering with organizations like Cardinal Health is very important because V-Go is predominantly reimbursed and distributed at the retail pharmacy where more than 90% of V-Go prescriptions have been dispensed to patients over the last few years.”
Valeritas is a commercial-stage medical technology company focused on developing innovative technologies to improve the health and quality of life of people with Type 2 diabetes. Valeritas’ flagship product, V-Go ® Disposable Insulin Delivery device, is a simple, wearable, basal-bolus insulin delivery solution for patients with Type 2 diabetes that enables patients to administer a continuous preset basal rate of insulin over 24 hours. It also provides on-demand bolus dosing at mealtimes. It is the only basal-bolus insulin delivery device on the market today specifically designed keeping in mind the needs of type 2 diabetes patients. Headquartered in Bridgewater, New Jersey, Valeritas operates its R&D functions in a state-of-the-art facility in Shrewsbury, Massachusetts. For more information, please visit www.valeritas.com .
Forward Looking Statements
This press release may contain forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to Valeritas technologies, business and product development plans and market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue Valeritas’ business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize the V-Go ® Disposable Insulin Delivery device with limited resources, competition in the industry in which Valeritas operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and Valeritas assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents Valeritas files with the SEC available at www.sec.gov .
Investor Contacts: Nick Laudico / Robert Flamm, Ph.D. The Ruth Group (646)536-7030 / 7017 IR@valeritas.com Or The Del Mar Consulting Group, Inc. Robert B. Prag, President 858-794-9500 bprag@delmarconsulting.com Media Contact: Christopher Hippolyte The Ruth Group (646)536-7023 PR@valeritas.com
