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PHCC Priority Healthcare b (MM)

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Share Name Share Symbol Market Type
Priority Healthcare b (MM) NASDAQ:PHCC NASDAQ Common Stock
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Priority Healthcare Corporation Is The Preferred Specialty Distributor And Pharmacy Provider Of Novartis' Visudyne For Age-Relat

08/12/2003 12:00pm

PR Newswire (US)


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Priority Healthcare Corporation Is The Preferred Specialty Distributor And Pharmacy Provider Of Novartis' Visudyne For Age-Related Macular Degeneration LAKE MARY, Fla., Dec. 8 /PRNewswire-FirstCall/ -- Priority Healthcare Corporation has signed an agreement with Novartis Pharmaceuticals Corporation to be a preferred specialty distributor and the preferred specialty pharmacy provider of Visudyne(R) (verteporfin) beginning January 1, 2004. Visudyne is the first FDA approved drug therapy for patients with some forms of age-related macular degeneration (AMD), the leading cause of vision loss in people over 50. "We are very pleased to become the preferred specialty distributor and pharmacy provider for Visudyne therapy, a breakthrough in the treatment of AMD. With the addition of the Visudyne program, ophthalmology has the potential to become a significant specialty focus for Priority. Visudyne is a great example of a manufacturer directing currently available medications to the specialty channel and specifically to Priority Healthcare," said Steve Cosler, President and CEO of Priority Healthcare. "We are excited to add Visudyne to the portfolio of products we distribute for Novartis. This new program enables us to build upon our strong presence in eye surgery centers and broaden Priority's presence in ophthalmology," added Guy Bryant, Executive Vice President and General Manager for Distribution Services at Priority Healthcare. "With the aging of the Baby Boomer generation, the National Eye Institute predicts that blindness from age-related diseases will double over the next 30 years. This dramatic increase heightens the need to provide specialty services to the AMD patient population and meet the growing needs of the retina specialists who treat them." Age-related macular degeneration is the most common cause of vision loss in the United States in persons 50 and older, and its prevalence increases with age. It is also the leading cause of irreversible visual impairment in the elderly, with over 30 million people estimated to suffer from AMD worldwide. Visudyne is the first FDA approved medication to treat wet AMD. Wet AMD affects approximately 10-15% of the patient population and is characterized by the development of new blood vessels forming behind the retina. While it cannot completely restore full vision, Visudyne therapy has the potential to halt the disease and provide some visual improvement. About Priority Healthcare Corporation Priority Healthcare Corporation is a national specialty pharmacy and distributor that provides biopharmaceuticals, complex therapies, and related disease treatment programs and services. Priority Healthcare provides comprehensive programs for patients, payors, physicians, and pharmaceutical manufacturers for a growing number of disease states including cancer, hepatitis C, respiratory and pulmonary conditions, infertility, rheumatoid arthritis, hemophilia, multiple sclerosis and ophthalmology. Additional information regarding Priority Healthcare is available at http://www.priorityhealthcare.com/ Certain statements included in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our expectations or beliefs and involve certain risks and uncertainties, including those described in our public filings with the United States Securities and Exchange Commission; also including, but not limited to, changes in interest rates, competitive pressures, changes in customer mix, changes in third party reimbursement rates, financial stability of major customers, changes in government regulations or the interpretation of these regulations, changes in supplier relationships, growth opportunities, cost savings, revenue enhancements, synergies and other benefits anticipated from acquisition transactions, difficulties relative to integrating acquired businesses, the accounting and tax treatment of acquisitions, and asserted and unasserted claims, which could cause actual results to differ from those in the forward-looking statements. The forward-looking statements by their nature involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date herein. http://www.newscom.com/cgi-bin/prnh/20030417/PHCLOGO http://photoarchive.ap.org/ DATASOURCE: Priority Healthcare Corporation CONTACT: Stephen Saft, Chief Financial Officer, +1-407-804-6700, or Kirsten Ayars, Public Relations Manager, +1-407-804-6700, both of Priority Healthcare Web site: http://www.priorityhealthcare.com/

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