Scilex Holding Company Announces Launching of Co-Pay Programs for Both ZTlido® and ELYXYB® for Commercially Insured Patients and the addition of ELYXYB® to a Multi-State Medicaid Pharmaceutical Purchasing Group to Its Purchasing Pool
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The introduction of co-pay programs for ZTlido® and ELYXYB® by Scilex Holding Company represents a strategic move to enhance the accessibility of these non-opioid pain management products. By capping the out-of-pocket expenses at $25 monthly, with provisions for some patients to pay even less, the company is likely addressing a critical barrier to medication adherence: cost. This approach could result in increased product uptake, potentially leading to a rise in sales volume. Moreover, the inclusion of ELYXYB® in the multi-state Medicaid pharmaceutical purchasing pool further expands its market reach, integrating it into a broader healthcare framework.
From a business perspective, these initiatives are poised to strengthen Scilex's competitive position in the pain management market. By reducing the financial burden on patients, the company may see improved patient retention and loyalty, which are vital in a healthcare environment that increasingly values patient-centric care. Additionally, such programs can serve as a differentiator in the marketplace, potentially attracting patients from competing brands. The long-term impact on Scilex's financials will depend on the balance between increased volume and the costs of administering these co-pay programs.
Scilex's decision to launch co-pay assistance programs can be viewed through the lens of pharmaceutical pricing strategy. Co-pay assistance is a common tactic used by pharmaceutical companies to mitigate the impact of high deductibles and insurance barriers that patients face. While this can improve access to medication, it also has implications for the overall cost structure of healthcare. Insurers may eventually adjust premiums or formulary placements in response to such programs, potentially influencing market dynamics.
Furthermore, the addition of ELYXYB® to a multi-state Medicaid pharmaceutical purchasing group is significant. Medicaid negotiations often involve rebates and discounts, which can affect a company's net pricing. However, the volume guaranteed by Medicaid inclusion can compensate for lower per-unit revenue. This move suggests that Scilex is actively engaging with payers to secure formulary inclusion, which is essential for ensuring that patients have access to these treatments through their insurance plans.
- Launching Co-Pay programs for ZTlido® and ELYXYB® for commercially insured patients
- Multi-State Medicaid Pharmaceutical Purchasing Group added ELYXYB® to its purchasing pool
PALO ALTO, Calif., April 09, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced launching of co-pay programs for both ZTlido® and ELYXYB® with the out-of-pocket costs for its product portfolio for commercially insured patients capped at
Additionally, on April 1, 2024, a multi-state Medicaid pharmaceutical purchasing group added ELYXYB® to its purchasing pool to make it eligible for thirteen States’ Medicaid programs.
Scilex believes that high deductibles and co-pay programs should not prevent patients from receiving the medications they need. Scilex co-pay programs are designed to help patients reduce their co-pay and out-of-pocket costs for their medications. Our program partners with various assistance programs to help make patient medications more affordable.
For more information on the ZTlido® co-pay program, refer to https://www.ztlido.com/getting-started/ and for the ELYXYB® co-pay program, refer to https://www.elyxyb.com/savings.
For more information on Scilex Holding Company, refer to www.scilexholding.com
For more information on ZTlido® including Full Prescribing Information, refer to www.ztlido.com.
For more information on ELYXYB®, including Full Prescribing Information, refer to www.elyxyb.com.
For more information on Gloperba®, including Full Prescribing Information, refer to www.gloperba.com.
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About Scilex Holding Company
Scilex Holding Company is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes. Scilex’s commercial products include: (i) ZTlido® (lidocaine topical system)
In addition, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXATM” or “SP-102”), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica for which Scilex has completed a Phase 3 study and has granted Fast Track status from the FDA in 2017; (ii) SP-103 (lidocaine topical system)
Scilex Holding Company is headquartered in Palo Alto, California.
Forward-Looking Statements
This press release and any statements made for and during any presentation or meeting concerning the matters discussed in this press release contain forward-looking statements related to Scilex and its subsidiaries under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding the expected out-of-pocket costs for commercially insured patients, Scilex’s expectation to launch Gloperba® in the first half of 2024 and plans to initiate a Phase 2 clinical trial in 2024 for SP-104.
Risks and uncertainties that could cause Scilex’s actual results to differ materially and adversely from those expressed in our forward-looking statements, include, but are not limited to: risks associated with the unpredictability of trading markets and whether a market will be established for Scilex’s common stock; general economic, political and business conditions; risks related to COVID-19 (and other similar disruptions); the risk that the potential product candidates that Scilex develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; risks relating to uncertainty regarding the regulatory pathway for Scilex’s product candidates; the risk that Scilex will be unable to successfully market or gain market acceptance of its product candidates; the risk that Scilex’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Scilex has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; risks that the outcome of the trials and studies for SP-102, SP-103 or SP-104 may not be successful or reflect positive outcomes; risks that the prior results of the clinical and investigator-initiated trials of SP-102 (SEMDEXA™), SP-103 or SP-104 may not be replicated; regulatory and intellectual property risks; and other risks and uncertainties indicated from time to time and other risks described in Scilex’s most recent periodic reports filed with the Securities and Exchange Commission, including Scilex’s Annual Report on Form 10-K for the year ended December 31, 2023, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and Scilex undertakes no obligation to update any forward-looking statement in this press release except as may be required by law.
Contacts:
Investors and Media
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310
Email: investorrelations@scilexholding.com
Website: www.scilexholding.com
SEMDEXA™ (SP-102) is a trademark owned by Semnur Pharmaceuticals, Inc., a wholly-owned subsidiary of Scilex Holding Company. A proprietary name review by the FDA is planned.
ZTlido® is a registered trademark owned by Scilex Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company.
Gloperba® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.
ELYXYB® is a registered trademark owned by Scilex Holding Company.
All other trademarks are the property of their respective owners.
© 2024 Scilex Holding Company All Rights Reserved.
FAQ
What co-pay programs did Scilex Holding Company launch for ZTlido® and ELYXYB®?
What did the Multi-State Medicaid Pharmaceutical Purchasing Group do with ELYXYB®?
How does Scilex aim to improve patient affordability?
Where can more information be found about the ZTlido® co-pay program?
Where can more information be found about the ELYXYB® co-pay program?
