BioDelivery Sciences International, Inc. (NASDAQ:BDSI) announced the addition of BUNAVAIL® (buprenorphine and naloxone) buccal film (CIII) as a preferred drug to the Texas Medicaid formulary from its previous non-formulary status. Suboxone film will share preferred status with BUNAVAIL. The formulary change goes into effect on January 1, 2017.
The Texas Medicaid contract is the sixth managed care contract announced by BDSI since July and demonstrates the progress BDSI is making with payers. BDSI anticipates realizing the initial impact on BUNAVAIL prescriptions from these contracts as the fourth quarter of 2016 progresses, and more prominently in early 2017 following the January 1 implementation of the new Texas Medicaid contract as well as two other important contracts, both of which place BUNAVAIL in a favorable position where it will be one of two products made available. One contract is of particular importance since it will provide BUNAVAIL preferred status while moving Suboxone film to non-preferred status.
Improving current and securing new managed care contracts remains central to the future growth of BUNAVAIL and placing BUNAVAIL on a path to potential product profitability, which, as previously reported, is targeted by the end of 2017.
About BioDelivery Sciences International
BioDelivery Sciences International, Inc. (NASDAQ:BDSI) is a specialty pharmaceutical company with a focus in the areas of pain management and addiction medicine. BDSI is utilizing its novel and proprietary BioErodible MucoAdhesive (BEMA®) technology and other drug delivery technologies to develop and commercialize, either on its own or in partnership with third parties, new applications of proven therapies aimed at addressing important unmet medical needs.
BDSI’s development strategy focuses on utilization of the FDA’s 505(b)(2) approval process. This regulatory pathway creates the potential for more timely and efficient approval of new formulations of previously approved therapeutics.
BDSI’s particular area of focus is the development and commercialization of products in the areas of pain management and addiction. These are areas in which BDSI believes its drug delivery technologies and products can best be applied to address critical unmet medical needs. BDSI’s marketed products and those in development address serious and debilitating conditions such as breakthrough cancer pain, chronic pain, painful diabetic neuropathy and opioid dependence. BDSI’s headquarters is located in Raleigh, North Carolina.