The PennZone

HORSHAM, Pa., April 9, 2024 ~ Myonex, a leading global clinical trial supply company, has recently announced the completion of its acquisition of SaveWay Compounding Pharmacy in Newark, Delaware. The pharmacy will now operate as SaveWay Compounding Pharmacy, a Myonex company.

This strategic move by Myonex is part of their ongoing efforts to support clinical trial sponsors' trial designs with direct-to-patient (DTP) and home healthcare provider (HHP) capabilities. With this acquisition, Myonex aims to provide wider patient access across the entire United States and support patients in obtaining the necessary trial medication and equipment.

According to James Lovett, Chief Executive Officer at Myonex, "SaveWay's pharmacy capabilities complement and extend our existing clinical supplies solutions within the US. SaveWay will provide additional access for drug sourcing and direct-to-patient options across all 50 states for our clinical packaging and labeling and ancillary supply services." This will also complement Myonex's market-leading CTRx™ to offer a full suite of prescription-based supply options for both investigational medicinal product (IMP) and commercial drug access throughout the US. These added capabilities will enable Myonex to better serve their clients' needs and facilitate decentralized clinical trials (DCT) and hybrid studies.

More on The PennZone

• $796,000 in Q2 Revenue Marks Highest Earnings to Date on 3 Trailing Quarters of Profitability in Multi-Billion Homebuilding Sector: Stock Symbol: IVDN
• Cybersecurity is THE Hot Market Sector; Revenues, Earnings & Profit matter; Only 33 Million Shares + a Huge Short Position Equal an Undervalued Stock
• Despite Global Calls for a Ban, US Child Psychiatry Pushes Electroshock for Kids
• BeyondTrucks CEO Wins Gold Stevie® Award for Best Entrepreneur in Transportation
• Franco Polished Plaster Celebrates 35 Years of Bringing Walls to Life in the UK

The acquisition also presents an opportunity for SaveWay to expand into the realm of clinical trials and accelerate the growth of their direct-to-patient services. Pradeep Chilakapati, RPh, Managing Partner and Pharmacist at SaveWay, expressed excitement about this partnership: "We welcome the opportunity to be part of an experienced clinical trial supply company with its roots in pharmacy. Myonex understands how we work and what we can offer to support today's trends in clinical trials."

This recent acquisition announcement comes on the heels of another significant acquisition by Myonex – that of Creapharm – further solidifying their commitment to providing faster, more flexible, and reliable services to their clients while improving the clinical trial patient experience. With these acquisitions, Myonex now boasts one of the most diverse clinical trial supply service offerings globally.

Myonex was exclusively advised by Crosstree as its financial advisor and Troutman Pepper as its legal advisor in this acquisition of SaveWay. This partnership is expected to bring about significant growth and success for both companies in the clinical trial supply industry.

---

Show All News | Report Violation