$QBIO Strontium-89 - FDA Approved Drug Launched
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Posted On: 10/26/2021 8:55:46 AM
$QBIO Strontium-89 - FDA Approved Drug Launched
In January 2021, we announced that treatment with Strontium-89 (Strontium Chloride Sr-89 Injection, USP) in the hospital out-patient setting is fully reimbursed by Medicare. In March, we were approved as a federal supplier which will allow us to sell into federal hospital systems, notably the U.S. Department of Veteran Affairs and the U.S. Department of Defense. We have deployed a VA sales force and we are preparing to launch an institutional contract sales force to increase our presence and uptake in non-government hospitals by the end of the year.
We have been working with large regional and national oncology organizations to bring Strontium-89 to all of their radionuclide qualified clinics. Agreements and contracting are ongoing. We have continued to deploy a multi-channel marketing campaign, driving awareness among our target audiences, both on the physician and the patient side. Virtual and live sales calls have been ongoing since June 2020 within the confines of COVID-19 access. We have seen an uptick in Strontium89 sales starting in the 4th Quarter and expect revenue in that quarter to likely double the prior quarter. In addition, the Company has received its first order from the VA health care system under its federal supply contract. Repeat orders from clinics also indicate adoption and confidence in the product and as mentioned, with the discontinuation of QUADRAMET® (Samarium Sm 153 Lexidronam Injection) we believe we will see increased demand from that patient population.
In January 2021, we announced that treatment with Strontium-89 (Strontium Chloride Sr-89 Injection, USP) in the hospital out-patient setting is fully reimbursed by Medicare. In March, we were approved as a federal supplier which will allow us to sell into federal hospital systems, notably the U.S. Department of Veteran Affairs and the U.S. Department of Defense. We have deployed a VA sales force and we are preparing to launch an institutional contract sales force to increase our presence and uptake in non-government hospitals by the end of the year.
We have been working with large regional and national oncology organizations to bring Strontium-89 to all of their radionuclide qualified clinics. Agreements and contracting are ongoing. We have continued to deploy a multi-channel marketing campaign, driving awareness among our target audiences, both on the physician and the patient side. Virtual and live sales calls have been ongoing since June 2020 within the confines of COVID-19 access. We have seen an uptick in Strontium89 sales starting in the 4th Quarter and expect revenue in that quarter to likely double the prior quarter. In addition, the Company has received its first order from the VA health care system under its federal supply contract. Repeat orders from clinics also indicate adoption and confidence in the product and as mentioned, with the discontinuation of QUADRAMET® (Samarium Sm 153 Lexidronam Injection) we believe we will see increased demand from that patient population.
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