Benzinga | Jan 21, 2021 01:01PM EST

Premier Reports, Through Its ProvideGx Program, Has Partnered With Pfizer To Supply 5 Essential Medications To Healthcare Providers, Terms Not Disclosed

Premier Inc. (NASDAQ:PINC), through its ProvideGx(r) program, has partnered with Pfizer Inc. to supply five essential medications to healthcare providers, helping to meet the immediate and long-term supply needs of medications necessary to a range of patient care interventions, including some that have been critical during the COVID-19 pandemic.

The five medicines include: diazepam, labetalol, lorazepam, fentanyl citrate and 0.9 percent sodium chloride injection. Labetalol is a beta blocker that is used to treat high blood pressure. Lorazepam and diazepam are controlled substances used as anti-anxiety medications. Fentanyl is a controlled substance used to prevent pain for short periods of time, usually before anesthesia is administered or immediately after surgical procedures. The 0.9 percent sodium chloride injection is used to dilute other medications before injection.

These five medications are critical for patient care and in some cases are necessary as part of COVID-19 treatments. As COVID-19 cases increase, demand for some of these medications has risen. For instance, fentanyl is often used to provide pain relief to patients receiving mechanical ventilation in their treatment for COVID-19, causing demand for this drug to spike 7.5X during peak periods.

"This past year has unquestionably placed unprecedented demand on the drug supply chain, particularly for drugs used during mechanical ventilation of COVID-19 patients," said Premier's President, Michael J. Alkire. "Our partnership with Pfizer will help ensure a sustainable supply of five drugs that are essential not just during the pandemic, but also for routine and elective care longer term."

Guided by health systems with more than 1,600 hospitals across the nation, Premier's ProvideGx program creates long-term committed buying contracts that provide participating manufacturers with the surety needed to increase production or move into new markets. Premier's programs, including ProvideGx, currently provide members access to more than 150 drugs that are or have been recently designated as shortage drugs, with a pipeline of more than 50 additional drugs. The program has also ensured an adequate safety stock of medicines and has successfully protected supply even as demand surged more than 150 percent during the COVID-19 pandemic.

Pfizer has made significant investments in its injectables manufacturing network to support increased capacity and order fulfillment rates. The enhanced agreement with Premier helps facilitate increased access to these medicines for Premier member institutions and their patients.

"Our focus at Pfizer on delivering a consistent supply of injectable medicines took on even greater importance as patient need increased throughout the pandemic," said Angela Lukin, Global President, Pfizer Hospital. "The addition of these injectable medicines to our Premier agreement helps secure supply for products critical to patient care during the pandemic, while driving long-term market sustainability."

The financial terms of Premier's agreement with Pfizer are not being disclosed.