PRINCETON, N.J., June 27, 2019 /PRNewswire/ -- Sandoz Inc., a Novartis division, announced today that it has entered into an agreement with Kit Check, Inc., a leader in automated medication management solutions for hospitals, to automate the restocking of certain Sandoz products in hospitals in the United States.
By collaborating with Kit Check, Sandoz will be able to better understand how its medicines are used in hospitals, optimize the supply chain by leveraging real-time inventory reports for auto-replenishment, and track recalls and expirations of its products in hospital pharmacies. The solution provides upstream visibility for hospital pharmacies, helping to ensure that the right drug is in the right place, at the right time, for the right patient.
"Our agreement with Kit Check aligns to our goal of being the supplier of choice in the hospital space through our product offering and our institutional team presence combined with this technology solution," said Carol Lynch, President of Sandoz, Inc. "Kit Check and Sandoz are synergistic in our effort to provide comprehensive solutions to hospital customers so they can be even better at supporting their healthcare staff and serve their patients safely and more efficiently."
Kit Check is a leader in Radio-frequency identification (RFID)-based medication inventory tracking and automated tray processing in use at more than 500 hospitals in the U.S. and Canada. Its solutions blend powerful machine learning and advanced tracking technology to streamline medication inventory, workflow, and auditing processes and help hospital pharmacies cut costs, reduce risk, and get more done. Kit Check uses RFID tags to track each medication that passes through the hospital pharmacies. These tags are applied to the vials, syringes, bags, and other medication packages and supplies in trays and kits.
"This agreement with Sandoz is a significant step forward, reinforcing our long-term commitment to give customers visibility throughout the care continuum. Also, this collaboration will bring improvements for hospital pharmacists, by developing solutions that streamline operations, reduce risk and free up time for clinical work, which means better efficiency and safety for both pharmacists and patients," said Kevin MacDonald, CEO and co-founder of Kit Check.
Sandoz is the latest company to be recognized with the "Works with Kit Check" certification – which is a mark of trust and compatibility with Kit Check and other leading automation vendors (carousels and ADMs). The program connects all elements in the pharmaceutical ecosystem that touch a product and make them smarter. For instance, scanners will automatically identify the syringes in terms of NDC, lot number, and expiration date, saving time for hospital staff and reducing the risk of medical error. As a result, the pharmacy can see the product's journey from the plant to the point of administration in real time.
*Kit Check is a trademark of Kit Check, Inc.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as "potential," "can," "will," "plan," "expect," "anticipate," "look forward," "believe," "committed," "investigational," "pipeline," "launch," or similar terms, or by express or implied discussions regarding potential benefits of Kit Check to Sandoz, and potential marketing approvals, new indications or labeling for the products described in this press release, or regarding potential future revenues from such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Neither can there be any guarantee that, if approved, such products will be approved for all indications included in the reference product's label. Nor can there be any guarantee that such products will be commercially successful in the future. Neither can there be any guarantee that Kit Check will benefit Sandoz or help Sandoz to achieve its goals, or in any particular time frame. In particular, our expectations regarding Kit Check and such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; the particular prescribing preferences of physicians and patients; competition in general, including potential approval of additional generic or biosimilar versions of such products; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; litigation outcomes, including intellectual property disputes or other legal efforts to prevent or limit Sandoz from selling its products; general economic and industry conditions, including the effects of the persistently weak economic and financial environment in many countries; safety, quality or manufacturing issues, and other risks and factors referred to in Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
Sandoz, a Novartis division, is a global leader in generic pharmaceuticals and biosimilars and a pioneer in the emerging field of prescription digital therapeutics. Our purpose is to pioneer access to healthcare by developing and commercializing novel, affordable approaches that address unmet medical need. Our broad portfolio of high-quality medicines, covering all major therapeutic areas and increasingly focused on value-adding differentiated medicines, accounted for 2018 sales of USD 9.9 billion. Sandoz is headquartered in Holzkirchen, in Germany's Greater Munich area.
SOURCE Sandoz Inc.