Chronimed Announces Launch of New Sales Force and Hiring of Director of Pharmaceutical Manufacturer Contracting.Business Editors/Health/Medical Writers MINNEAPOLIS--(BUSINESS WIRE)--June 10, 2003 Chronimed Inc. (Nasdaq:CHMD CHMD Change Mode Command ) announced today that it has completed the hiring and training of its sales force dedicated to disease specific, self-injectable medications. Sales representatives will begin making calls to physician offices during the week of June 10. "Over the past two quarters, we have communicated that we were building a physician-focused sales approach to our existing payor model", said Henry Blissenbach, Chronimed's Chief Executive Officer. "The new sales representatives we've added to sell biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. injectables, along with our existing sales force in HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and transplant medications, gives us a significant sales presence in all our key disease areas." All of our new reps have training and sales experience with major pharmaceutical companies," said Daryl Schraad, Director of Sales. "Since this is a pharma-like sales approach, we required that type of experience." In addition, Chronimed also announced today the hiring of Brett Brewer as Director of Pharmaceutical Manufacturer Contracting. Mr. Brewer was most recently in a similar position with AdvancePCS. "We have recently developed a process to separate those select products requiring high security, or certain unique fulfillment criteria from the normal mail service flow", continued Blissenbach. "We also have dedicated groups of call center, reimbursement and shipping personnel to this new approach. Brett will be responsible for presenting our capabilities to pharmaceutical manufacturers who could benefit from our ability to tailor our processes and dedicate our resources to meet the distribution requirements for their new specialty drugs." About Chronimed Inc. Chronimed Inc. is a disease-focused drug distribution company serving the prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, needs of people with chronic health conditions. The Company distributes pharmaceuticals and provides specialized patient management services nationwide for people with chronic conditions such as HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome , organ transplant organ transplant: see transplantation, medical. and diseases treated with biotech injectable in·ject·a·ble adj. Capable of being injected. Used of a drug. n. A drug or medicine that can be injected. medications. Chronimed works directly with patients, providers, payors, manufacturers and wholesalers to improve clinical and cost-of-care outcomes. Chronimed's web site address is www.chronimed.com. Information contained in this press release and associated schedules, other than historical or current facts, should be considered 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. as defined in 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 statements reflect management's current views of future events and financial performance that involve a number of risks and uncertainties. These factors include, but are not limited to, the following: our ability to maintain satisfactory on-going arrangements with drug manufacturers and wholesalers, and their ability to satisfy our volume, pricing, and product requirements; decrease in demand for drugs we handle; changes in Medicare or Medicaid reimbursement, rules and regulations; loss of relationships with, and/or significant reductions in reimbursements from, payors (including Aetna or other large contracts); negative cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. trends or financial difficulties by our payors; changes in or unknown violations of various federal, state, and local regulations; costs and other effects of legal or administrative proceedings An administrative proceeding is a non-judicial determination of fault or guilt and may include in some cases penalties of various forms. A "Captain's Mast", held by a commanding officer of a warship is one such proceeding. ; the adoption of new or changes to existing accounting policies and practices and the application of such policies and practices; the amount and rate of growth in our selling, general and administrative expenses; the impairment of a significant amount of our goodwill; the effects of and changes in, trade, monetary and fiscal policies, laws and regulations; other activities of government agencies; our ability to obtain competitive financing to fund operations and growth; continuing qualifications to list our securities on a national stock exchange; developments in medical research affecting the treatment or cure of conditions for which we distribute medications; the ability of management and accounting controls to assure accurate and timely information; computer system, software, or hardware failures or malfunctions; heightened competition; and loss or retirement of key executives or changes in ownership. These and other risks and uncertainties are discussed in further detail in the cautionary statement filed as Exhibit 99.1 as part of Chronimed's annual report and 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. filed with the Securities and Exchange Commission. |
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