Amgen Raises Epogen Pricing.Business Editors & Health/Medical Writers NASHVILLE, Tenn.--(BW HealthWire)--April 29, 2002 Renal Care Group, Inc. (NYSE NYSE See: New York Stock Exchange : RCI RCI Royal Caribbean International RCI Radio Canada International RCI Rehabilitation Council of India RCI Residential Communities Initiative RCI Roof Consultants Institute RCI Remote Control Interface RCI Residential, Commercial, Industrial ) today announced that it had received notice that Amgen Inc. has raised the price of EPOGEN(R), which is routinely administered to dialysis patients to treat anemia, by 3.9% effective at 5:01 p.m. April 25, 2002. This price increase will not affect Renal Care Group in 2002 because the Company's current contract extends through the end of 2002. The Company is currently engaged in negotiations with Amgen concerning its contract for 2003. Renal Care Group and Amgen have agreed in principle that the Company's current pricing formula will remain in effect for 2003. As a result, the Company believes that it will be able to mitigate a substantial portion of this increase. This agreement in principle is conditioned on negotiating and signing a final written amendment to the contract between the Company and Amgen. Renal Care Group, Inc. is a dialysis services company that provides care to patients with kidney disease Kidney Disease Definition Kidney disease is a general term for any damage that reduces the functioning of the kidney. Kidney disease is also called renal disease. . The Company currently treats approximately 19,200 patients through more than 240 owned outpatient dialysis facilities, in addition to providing acute dialysis services to more than 120 hospitals. Over 6,000 associates provide services across the Company's 26-state network. Certain statements in this press release particularly those in the second paragraph concerning the Company's negotiation of a new contract with Amgen and its ability to mitigate the Amgen price increase in 2003 constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Renal Care Group to differ materially from those expressed in or implied by the forward-looking statements, including risks related to: compliance with health care and other applicable laws; the integration of acquired companies; changes in the Medicare and Medicaid Medicare and Medicaid U.S. government programs in effect since 1966. Medicare covers most people 65 or older and those with long-term disabilities. Part A, a hospital insurance plan, also pays for home health visits and hospice care. programs; risks related to EPO EPO see erythropoietin. EPO Erythropoietin, see there ; payment reductions by private insurers, hospitals or managed care organizations; and changes in the health care delivery, financing or reimbursement systems. These and other factors affecting the company are discussed in more detail in Renal Care Group's reports filed with the Securities and Exchange Commission, including without limitation Renal Care Group's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001. Copies of these filings are available from Renal Care Group upon request. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion