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Serono and Priority Healthcare Corporation Form Strategic
Alliance
Leaders in Reproductive Health Join to Provide Innovative Offerings of Patient
Support Services and Pharmacy Fulfillment
ROCKLAND, Mass., and LAKE MARY, Fla., June 14 /PRNewswire-FirstCall/ --
Serono, Inc. (virt-x SEO) (NYSE:SRA) and Priority Healthcare Corporation
(NASDAQ:PHCC) announced today the formation of a strategic alliance, under
which both companies will offer the fertility marketplace expanded and
unprecedented support to consumers, patients, healthcare providers and managed
care organizations.
The announcement marks a first-of-its-kind alliance between the market leaders
in reproductive health: Serono is the worldwide leader in reproductive health
and Priority Healthcare's Freedom Drug(TM) is the nation's largest fertility
specialty pharmacy. Together, both companies will offer unique, comprehensive
services that will increase efficiencies and conveniences for infertility
patients, encourage consumers with fertility concerns to seek early diagnosis,
make available valuable savings for patients without fertility drug coverage,
and increase the potential for patients to continue fertility treatment.
Under the agreement, Freedom Drug will become the preferred specialty pharmacy
for fulfillment of Serono fertility products dispensed in the United States.
The companies will also develop new fertility awareness and patient education
programs to be offered through Serono's Fertility LifeLines(TM), a free and
confidential information and support service available at 1-866-LETS-TRY.
Serono and Freedom Drug will promote these enhanced support services to
consumers, patients, healthcare providers and managed care organizations
through the alignment of marketing and sales activities.
"This unique alliance is a strategic initiative entirely new to the fertility
market," said Fereydoun Firouz, President, Serono, Inc. "Awareness of
infertility remains an important issue in our society and increasing knowledge
is essential. Together, we will increase capacity to offer not only access to
fertility treatment through convenient and streamlined fulfillment, but also
access to information, education and support for the millions that are facing
infertility."
"Our relationship with Serono is longstanding and highly valued. We welcome the
opportunity to expand our partnership with the market leader and support the
growth of the fertility marketplace through this alliance," added Steve Cosler,
President and Chief Executive Officer of Priority Healthcare. "This is another
example of an innovative channel partnership with a key manufacturer to provide
tremendous value to patients, physicians and payors."
The strategic alliance builds market value through a full continuum of programs
and services that benefit all major stakeholders in the fertility marketplace:
* Consumers not presently in treatment benefit from increased awareness of
infertility and treatment options. This strategic alliance will promote early
diagnosis and treatment, as well as assist individuals in finding healthcare
providers for initial consultations through Serono's Fertility LifeLines at
1-866-LETS-TRY.
* Patients starting or in treatment benefit from support services and valuable
savings on Serono fertility products for those without fertility drug coverage
as well as programs from Serono's Fertility LifeLines at 1-866-LETS- TRY, that
are designed to improve therapy understanding, increase the potential for
patients to continue fertility treatment and increase access to care.
* Healthcare Providers benefit from patient education programs as well as 24x7
access to Serono fertility product information and support for their patients.
* Managed Care Organizations will be provided the opportunity to optimize
infertility spend while enhancing services for patients and healthcare
providers.
"We've scored a first by combining our market reach with the largest one-
of-a-kind portfolio of services for every stage of the treatment process
resulting in multiple benefits to the fertility marketplace," said Bharat
Tewarie, MD, MBA, Executive Vice President, Reproductive Health, Serono, Inc.
"We believe the creation of this alliance is a key next step in our effort as
leaders to create long-term value in the marketplace, improve the patient
experience and increase access to care."
"We're excited to add our best-in-class pharmacy fulfillment service to
Serono's enhanced Fertility LifeLines as well as add other new programs to a
comprehensive portfolio of education and support services available through
this alliance," said Kim Rondeau, Executive Vice President, Pharmacy Sales and
Marketing, Priority Healthcare. "By promoting awareness about infertility, we
can help more individuals seek early diagnosis, which may increase the
potential for treatment success."
Financial terms of the agreement were not disclosed.
Additional Information
About Serono, Inc. and Fertility
Serono, Inc., a subsidiary of Serono S.A., is a leader in fertility health,
dedicated to developing patient-friendly, innovative products that help people
build families. It is the only company to offer a full portfolio of fertility
medications for every stage of the reproductive cycle and recombinant versions
of three hormones used in the treatment of infertility, including the
Gonal-f(R) RFF Pen (follitropin alfa injection).
About Fertility LifeLines
Fertility LifeLines is a free and confidential educational service, designed to
make infertility issues easier to manage emotionally and financially. Consumers
and patients can now access special benefits and potential savings on fertility
medications, including Gonal-f(R), by calling Fertility LifeLines toll-free at
1-866-LETS-TRY (1-866-538-7879). Staffed with fertility, nurses, benefits
specialists and customer service representatives, Fertility LifeLines is
available Monday to Friday from 8 am to midnight ET and Saturday and Sunday
from 8 am to 6 pm ET.
About Priority Healthcare and Freedom Drug(TM)
Priority Healthcare is the premier healthcare services company providing
innovative, high-quality and cost-effective solutions that enhance quality of
life. As a national specialty pharmacy and distributor, Priority Healthcare
provides biopharmaceuticals, complex therapies, related disease treatment
programs and a portfolio of other service offerings for patients, payors,
physicians and pharmaceutical manufacturers. The growing number of specialty
areas serviced by Priority Healthcare include: oncology, gastroenterology,
reproductive endocrinology, neurology, hematology, pulmonology, ophthalmology,
rheumatology, endocrinology, infectious disease and nephrology, as well as
ambulatory surgery centers. Additional information regarding Priority
Healthcare is available online at http://www.priorityhealthcare.com/ .
Freedom Drug is the nation's largest specialty pharmacy devoted exclusively to
infertility. Its pioneering approach to expert infertility care, known as the
Freedom Advantage, offers a range of clinical and financial benefits for
patients, physicians, payors and pharmaceutical manufacturers.
About Serono S.A.
Serono is a global biotechnology leader. The Company has eight biotechnology
products, Rebif(R), Gonal-f(R), Luveris(R), Ovidrel(R)/Ovitrelle(R),
Serostim(R), Saizen(R), Zorbtive(TM) and Raptiva(R). In addition to being the
worldwide leader in reproductive health, Serono has strong market positions in
neurology, metabolism and growth and has recently entered the psoriasis area.
The Company's research programs are focused on growing these businesses and on
establishing new therapeutic areas, including oncology. Currently, there are
approximately 25 ongoing development projects.
In 2004, Serono achieved worldwide revenues of US$2,458.1 million, and a net
income of US$494.2 million, making it the third largest biotech company in the
world. Its products are sold in over 90 countries. Bearer shares of Serono
S.A., the holding company, are traded on the virt-x (SEO) and its American
Depositary Shares are traded on the New York Stock Exchange (SRA).
Some of the statements in this press release are forward-looking. Such
statements are inherently subject to known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements of
Serono S.A. and affiliates to be materially different from those expected or
anticipated in the forward-looking statements. Forward-looking statements are
based on Serono's current expectations and assumptions, which may be affected
by a number of factors, including those discussed in this press release and
more fully described in Serono's Annual Report on Form 20-F filed with the U.S.
Securities and Exchange Commission on March 16, 2005. These factors include any
failure or delay in Serono's ability to develop new products, any failure to
receive anticipated regulatory approvals, any problems in commercializing
current products as a result of competition or other factors, our ability to
obtain reimbursement coverage for our products, the outcome of government
investigations and litigation and government regulations limiting our ability
to sell our products. Serono has no responsibility to update the
forward-looking statements contained in this press release to reflect events or
circumstances occurring after the date of this press release.
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.
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DATASOURCE: Priority Healthcare Corporation
CONTACT: Media Relations, Renee Connolly, +1-781-681-2340, or fax,
+1-781-681-2935, or Investor Relations, Susan Ince, +1-781-681-2552, or fax,
+1-781-681-2912, both of Serono, Inc.; or Stephen Saft, Chief Financial
Officer, Priority Healthcare Corporation, +1-407-804-6700; or in Geneva,
Switzerland, Media Relations, +011-41-22-739-36-00, or fax,
+011-41-22-739-30-85, or Investor Relations, +011-41-22-739-36-01, or fax,
+011-41-22-739-30-22, both of Serono S.A.
Web site: http://www.priorityhealthcare.com/
http://www.seronousa.com/