An interview with Carlos Alfaras, Chief Executive Officer; Gensco Pharma
As seen in Chain Drugstore Daily | April 18, 2016
CDD: Tell our readers about Gensco Pharma.
CA: Gensco is a specialty pharmaceutical manufacturer focused on developing and commercializing prescription transdermal products since 2012. Our capabilities allow us to quickly launch products into significant niche markets. We have a strong Medical Advisory Board, including key medical advisors such as Dr. James Andrews and Dr. Gary Meyerson. Our products are distributed through all major and secondary wholesalers and dispensed by major pharmacy partners including Walgreens and CVS Health.
CDD: What’s the current market for transdermal prescription products?
CA: The current United States market for transdermal products is $8.4 billion and growing to over $10 billion in 2017.
Oral drug delivery has well documented problems and transdermal technology provides significant benefit for physicians, patients and payors in efficacy, safety and value by avoiding costly adverse effects and improving patient adherence.
Transdermal technologies provide benefits for systemic drug delivery and local delivery of currently approved products, the latter not being subject to FDA’s stringent requirements regarding therapeutic effects.
CDD: What are Gensco’s currently marketed value brands?
CA: Gensco’s two established legacy brands in the pain market are SpeedGel Rx and LiDORx. In 2015, we launched ColciGel, the first transdermal medication for gout which is a $2.5 billion market. All of our products are available with our proprietary M-Dose™, metered dose technology.
CDD: What can you tell me about your pipeline?
CA: Our research and development pipeline for transdermal products is well positioned to extend the life cycle of products originally introduced in another form, such as tablets or capsules. Our pipeline in 2016 is extremely strong. Midyear, Gensco will launch an FDA approved Prescription Hydrogel for the treatment of painful wounds, including diabetic skin ulcers, pressure wounds and burns. Our team of scientists are developing a Transdermal Corticosteroid with an expected launch by the end of 2016. Eventually, we will include a few orally administered medications that will be a good adjunct therapeutic fit with our products.
CDD: What does Gensco provide in the way of patient assistance programs?
CA: Copay assistance and cash pay programs are available to all patients through participating pharmacies. As a pharmaceutical manufacturer, we have a responsibility to provide access to safe and effective medications. We recognize the need to assist with the financial burden as our duty. Our corporate focus is to utilize our resources on innovative research and the development of unique delivery systems, and it aligns with our pharmacy partner’s efforts to improve access and the quality of life for patients who suffer from pain and debilitating diseases.
CDD: What additional insights do you have about Gensco’s value brands?
CA: We at Gensco are passionate about continuing to develop partnerships with what we call the 4Ps: Patients, Physicians, Pharmacists and Payors. We are constantly in communication with PBMs and our pharmacy clients to message healthcare providers and their respective patients on the efficacious benefits as well as the financial value of Gensco products. We expect to continue offering Gensco Brands to the industry which consistently provide efficacy, safety and value.