Baltimore, MD, August 09, 2011 --(PR.com
)-- UNIVEC announces FDA approval of Labeler Code.
Univec, Inc. (UNVC) a specialty pharmaceutical company, announces it has been issued a FDA labeler code. This is the prefix for each National Drug Code (NDC) on products that is manufactured and distributed by Univec for the company’s Specialty Pharmaceuticals. The National Drug Code is a unique identifier assigned by the FDA to identify the manufacturer of a prescription drug product intended for human use. The NDC number is also used in the electronic claim processing for payment by third party entities and e-prescribing for physicians.
David L. Dalton, President and CEO of Univec stated, "We are delighted to make progress in our new business model. The National Drug Codes are very important not only from the standpoint of the FDA, but it also allows payment from Medicare, Medicaid, Insurance companies and other third party payment systems. This is another milestone reached in placement of a solid foundation to build and grow the company. We thank our associates, shareholders and investors for the support and confidence they have shown the company."
A minority business enterprise (MBE) is a Specialty Pharmaceutical Company that manufactures and distributes high cost Specialty Pharmaceuticals. Specialty Pharmaceuticals are high cost products that are not usually dispensed in retail pharmacies but require special handling and a complex pharmaceutical regime. The company is focused on diseases such as Sickle Cell Anemia, Cancer, HIV/Aids, Hepatitis C., Multiple Sclerosis, Hemophilia and Drug addiction.
PPSI (Physician and Pharmaceutical Services, Inc.)
a subsidiary of Univec promotes and pays for pharmaceutical products though its network of pharmacies. PPSI eliminates the need for the pharmaceutical companies to distribute actual drug samples to physicians reducing potential liability for the physician while maintaining clinical oversight and drug interaction checks for the patient. The company through it’s "StarterScript" allows in lieu of a physician sample, a voucher or a co-payment card to be provide to the patient for a trial supply of medication redeemed in any of the nearly 55,000 retail pharmacies utilizing the PPSI real-time processing system.
Forward Looking Statements
This document may contain forward-looking statements based on current expectations that could be affected by the risks and uncertainties involved in Univec’s business. These risks and uncertainties include, but are not limited to, the risks described from time to time in Univec’s reports to the General Public and reporting agencies. Subsequent written or oral statements attributable to Univec or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this document and those in Univec’s reports filed.
The Specialty Pharmaceutical Company
Investor relations: David Dalton, President