Protomed and Quantum Pharmaceutical announce new special relationship
Unlicensed medicines manufacturer Quantum Pharmaceutical has secured a minority stake in medication management design specialist, Protomed. The partnership is set to radically alter the relationship between patients and the pharmaceutical industry and combat the UK-wide trend towards unintentional drug error.
Through the joint partnership, Quantum Pharmaceutical aims to exclusively offer pharmacists unlicensed medications (specials) in the Biodose® monitored dosage system. Ultimately Biodose will allow patients, through participating pharmacists, to receive their prescription medicines in a pre-portioned, personalised format that greatly reduces wastage, brings the NHS considerable cost savings and increases the probability patients will comply with dosage instructions. The strategic alliance will promote high street pharmacists as a vital resource in improving healthcare in the community.
“The investment by Quantum highlights the important role that pharmaceutical companies play in patient welfare and health outcomes,” says Protomed CEO and founder Norman Niven. “The move sends out a powerful message that pharmaceutical companies now have a responsibility to ensure their drugs are taken precisely when and how they were intended. No matter how effective the drug is, if it’s not taken correctly, if at all, the patient outcome is compromised.”
“This investment was born from both businesses’ parallel aspirations and strategies,” says Andy Scaife, managing director of Quantum Pharmaceutical. “It provides us with even more opportunities to support critically ill and vunerable patients who rely on unlicensed medicines. As these patients are more likely to have a long term or serious condition, minimising error is even more vital. Reducing wastage, which this partnership will support, while also improving patient outcomes is an urgent priority and helps support the NHS’ drive to implement cost savings.
“To us, this is a win-win situation and we envisage strong growth as we become the first company to provide unlicensed medicines in a pro-compliance format. In a wider sense, Protomed is an exciting business and Biodose offers major potential to be used in many areas of pharmaceuticals and beyond. We are very keen to be involved in improving patient compliance, and therefore health outcomes, as well as helping reduce wastage and the overall pharmaceutical cost to the NHS. For all these reasons, we are delighted to have made this investment.”
The joint partnership marks a strategic alliance for the companies that will help promote the role of the community pharmacist in the growing area of compliance management. Drug wastage costs the treasury over £3.5 billion a year and it is reported to occur in over 65% in patients over 70 years old.
Protomed was established in 2007 and its flagship product, Biodose, is the only medication management platform in the world to accommodate liquid oral medicines alongside tablets and capsules. Protomed’s mission is to provide simple solutions that set a precedent in usability, safety and value, and contribute to improved patient care.
Quantum Pharmaceutical was founded in late 2004 to supply pharmacies, dispensing doctors and hospitals with unlicensed medicines and special obtains. Quantum has established itself as a one-stop-shop for all specialist medication requirements, with up to 800 manufactured specials and 100 re-wholesaled specials despatched from the site on a daily basis.
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