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Pharmagen to Present Strategic Vision for Solving Nation's Parenteral Drug Shortage Crisis at 2013 BIO International Convention
Date:4/22/2013

SILVER SPRING, Md., April 22, 2013 /PRNewswire/ -- Pharmagen, Inc. (OTCBB: PHRX) (the "Company" or "Pharmagen") is excited to announce that it will present its strategic vision for solving the Nation's parenteral drug shortage crisis at the 2013 Biotechnology Industry Organization (BIO) International Convention held in Chicago, Illinois on April 23, 2013. The presentation will be given at the North Carolina Pavilion, Booth #2617, at 4:00 pm local time.

Pharmagen, in conjunction with biopharmaceutical industry leaders BioPlan Associates and Kymanox, will release the results of a comprehensive market analysis of the Nation's parenteral drug shortage crisis and outline a revolutionary supply chain and production methodology to address the problem. BioPlan Associates has identified that shortages cost US health providers well over $216 million annually in extra labor to simply manage; these shortages also pose serious risks to successful and expedient patient outcomes. The concern for patient safety is at the forefront of health policy after the 2012 Meningitis Outbreak and the Food & Drug Administration (FDA) has been looking for solutions to combat the shortage epidemic. Supply issues are expected to continue and Pharmagen estimates that the total market opportunity approaches $1 billion as US baby boomers are aging. Kymanox, a specialty process engineering and regulatory compliance company, has bundled a suite of new production methodologies that will allow Pharmagen to leverage its proprietary knowledge of drug shortages and translate it into cGMP, FDA-approved products that will fill critical supply gaps. This novel approach – coupled with a newly coined concept known as cGMP +® – will allow Pharmagen to produce the highest quality sterile injectables on the market today.

"We've spent the last 6 months studying this issue with some of the brightest minds in the pharmaceu
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SOURCE Pharmagen, Inc.
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