Dr. Andrea Olariu, CEO - Curae Pharma360 Inc. Statement on U.S. House Committee on Energy and Commerce Subcommittee on Oversight and Investigations

Curae Pharma360 Applauds the House Energy and Commerce Committee for Examining the Root Causes of Drug Shortages: Challenges in Pharmaceutical Drug Supply Chains

SAN FRANCISCO, May 18, 2023 /PRNewswire/ -- On May 11, the House Energy and Commerce Committee held a timely and important hearing to identify and raise visibility for the root causes of drug shortages and the obstacles to maintaining a stable supply of critical drugs in the U.S., revealing that more than 200 medications and solutions are currently on the American Society of Health-System Pharmacists' drug shortage list, and 21 of the 36 drugs on the FDA's list of critical medications are currently in shortage.

As a mission-driven pharmaceutical company committed to advancing equitable, reliable access to affordable medicines for everyone, Curae was founded based on a commitment to closing critical gaps in access to, and affordability of, life-changing generic medicines. In fact, our very inception is a response to supply chain and manufacturing challenges that inhibit equitable access to essential care in America. In oncology alone, 15 drugs are currently on the FDA shortage list, dramatically impacting the lives of cancer patients in America.

The dangers of generic drug supply chain challenges are clear, and testimony by Angels for Change founder Laura Bray provided a stark reminder of the impact that shortages of life-changing generic medicines have on Americans every day. These dramatic effects on the most vulnerable in our country - often people fighting cancer - are becoming more prevalent as drug shortages grow worse year by year.

"The hearing today made clear that it is not just enough to understand the root causes of drug shortages, we must then move to action to solve them," said Ms. Bray. "As we build and implement solutions, we must support the important work of Angels for Change collaborators, like Curae. Curae's efforts to help eliminate interruption in drug supply by strategically sourcing, stockpiling and distributing important and commonly prescribed, shortage-vulnerable generic drugs will save patient lives."

We applaud the Energy and Commerce Committee for including Ms. Bray's testimony on her family's experience facing three separate oncology drug supply shortages, bringing to light how devastating these shortages are.

We also applaud the important mission and accomplishments of Angels for Change - to not only identify hundreds of courses of medicines stuck in our broken supply chain during three dozen different drug supply shortages, but also to build collaborations involving 162 supply chain members, and successfully deploy pilot programs funding small US manufacturers - enabling the creation of a gap supply of two essential medicines that were accessed 650,000 times in the past year.

The need is achingly clear, and Ms. Bray's words ring true: building a resilient supply chain will take transparency, redundancy, and connectivity through a multi-stakeholder approach to ensure patients have access to the lifesaving and life-sustaining generic injectable medications without interruptions to care.

About Curae Pharma360 Inc.
A mission-driven pharmaceutical company committed to advancing equitable, reliable access to affordable medicines for everyone, Curae Pharma360 Inc. is a for-profit subsidiary of Medicines360, a nonprofit pharmaceutical organization. Building on its heritage from Medicines360, Curae will bring needed, life-changing medicines to market that stabilize supply chains and expand access for populations in need. Curae has two business units, an injectable oncology line, and a consumer health line offering the OTC emergency contraception Levonorgestrel Tablet 1.5 mg, otherwise known as the morning after pill. For more information, please visit https://www.curaepharma.com.

Media Contact: Kirsten Maynard, 415-350-4147, [email protected]

SOURCE Curae Pharma360 Inc