Letco Medical Announces Multi-Year Contribution to the Alliance for Pharmacy Compounding to Protect Patient Access for Compounded Hormone Replacement Therapies
WAYNE, Pa., June 30, 2021 /PRNewswire/ -- Letco Medical, LLC (Letco Med), is pleased to announce its three-year financial commitment of over $100,000 to fund the Alliance for Pharmacy Compounding (APC) nationwide advocacy campaign. This effort is focused on protecting patient access to compounded bioidentical hormone therapies (cBHT) that millions of Americans depend on and safely use every day. Additionally, Letco announces a new partnership program with its customers to further fund and support APC's patient advocacy initiatives and efforts.
Patient access to cBHT is actively being challenged through flawed studies funded by commercial and regulatory entities and does not accurately reflect the positive results achieved by the millions of patients who benefit daily from compounded hormone therapies. Last year alone in the United States, 26 million prescriptions of highly safe and efficacious compounded medications were dispensed by pharmacies, with beneficial clinical outcomes. Letco Med strongly supports APC's mission and approach for protecting patient access to these important medications.
Doug Bowman, Letco Med's CEO, said, "We believe and support the proven benefits of compounded hormone replacement therapies and the life changing outcomes these medications provide. The excellent work APC is doing to protect and safeguard cBHT access, while combatting a false narrative around compounded products, is critical for all stakeholders including prescribing physicians, pharmacists and their patients. APC is positioned perfectly with a strong advocacy program and universal support from the entire compounding community, making this significant contribution at this critical time a straightforward decision for Letco."
"We're grateful to our longtime partner, Letco Med, for their support," said APC's CEO, Scott Brunner. "With this gift, Letco becomes the first APC corporate member to make a multi-year commitment to our campaign to protect compounded hormones. It's a substantive commitment that brings us ever closer to our fund-raising goals for the campaign. Now we are looking to other corporate stakeholders in the compounding space to follow the lead of corporate patrons like Letco, by investing in this effort as well."
In addition to Letco Med's financial contribution to APC, on July 1, 2021, Letco Med will launch an exclusive platform for its pharmacy customers to provide direct funding in support of APC's effort to protect patient access to compounded bioidentical hormone therapies. Letco Med will partner with customers on every order they place to share a portion of revenues directly with APC.
About Letco Medical, LLC
Letco Medical, LLC ("Letco Med"), a 100% employee-owned company headquartered in Wayne, PA, is the supply partner of choice for profit-conscious compounding pharmacies everywhere. Letco Med has invested heavily in building a company that can serve the needs of compounding pharmacists today, tomorrow and into the future, with a full line of products and complementary programs and services. With a dedicated focus on the US compounding market, Letco Med provides a comprehensive portfolio of safe and consistent top-quality chemicals, covering a broad range of therapeutic categories as well as supplies, a deep assortment of dosage forms and delivery systems, pre-made topical bases, capsules, and equipment.
Since its inception in 1993, Letco Med has earned and built a reputation as one of the most innovative companies in the compounding industry. Letco Med focuses on unwavering quality, exemplified by its industry-leading quality assurance programs, stringent quality control procedures and an unmatched record with the FDA.
About the Alliance for Pharmacy Compounding
The Alliance for Pharmacy Compounding is the voice for pharmacy compounding, representing compounding pharmacists and technicians in both 503A and 503B settings, as well as educators, students, researchers, suppliers, and prescribers. Compounding exists for patients and animals who are not served by traditional pharmaceutical manufacturers. Every day, APC members play a critical, often life-or-death role in patients' lives, creating essential medications unavailable elsewhere for a range of health conditions, including autism, oncology, dermatology, ophthalmology, pediatrics, women's health, animal health, and others.
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SOURCE Letco Medical