TherapeuticsMD, Inc. (NASDAQ: TXMD) today provided an update on its business operations as the COVID-19 situation evolves. At this time, TherapeuticsMD continues to provide an uninterrupted supply of its portfolio of products for patients. The company has activated virtual options to ensure business continuity. In addition, the company has taken action to support the health of its employees. While TherapeuticsMD cannot predict the extent to which COVID-19 pandemic will continue to spread and how it will impact society and business, the company will continue to do all that it can to meet the needs of its patients and providers.
Supply of Products
TherapeuticsMD does not anticipate a shortage of its products due to COVID-19 at this time.
The company already has sufficient inventory of finished product in its warehouses to meet anticipated demand through at least early third quarter of this year.
Additionally, the company currently does not foresee any interruption in its ability to continue to manufacture additional product to be used beyond this period and has sufficient warehoused active pharmaceutical ingredients for the continued manufacture of its products.
At this time, the company continues to have uninterrupted wholesale and retail distribution of its products.
Remote Pharmacy and At Home Delivery Options
TherapeuticsMD is prepared to provide continued access to its products for patients.
The company's vitaCare Prescription Services patient model assists patients in obtaining easy and convenient access to their prescriptions for products at a retail pharmacy of their choice, including via home delivery retail pharmacy options. Home delivery is an attractive option during the COVID-19 outbreak.
The company has also partnered with independent community pharmacies and multiple third-party online pharmacies (such as PillPack, PillClub and Simple Health) and telemedicine providers (such as PlushCare) that focus on contraception or menopause to ensure patients have real-time access to both diagnosis and treatment.
Patients or providers who have additional questions or concerns or are having any difficulty accessing product should contact us at 1-800-350-3819 to speak to a vitaCare representative.
Patients can also review COVID-19 guidance from the World Health Organization or the U.S. Centers for Disease Control.
Field Promotion and Sales Force
The company continues to support prescribers' needs with samples and product materials through its sales force. If access is restricted, the company currently has mailing options in place for these materials.
In the event sales representatives are unable to promote in physician offices, the company has business continuity plans and infrastructure in place that allows for virtual detailing.
Employees and Community
The health and safety of TherapeuticsMD's employees remains a top priority.
The company has activated business continuity plans to avoid or minimize business disruption.
The company has suspended international business travel and attendance at conferences and other large events.
The company is supporting employees, including allowing employees to work virtually by leveraging virtual meeting technology.
The company has implemented enhanced cleaning procedures and visitor screening at company facilities.