SCHAUMBURG, Ill.--(BUSINESS WIRE)--Avenacy, a specialty pharmaceutical company focused on developing, manufacturing, and delivering critical medications, today announced its launch. Supported by a vast global network of development and manufacturing partners, Avenacy is prepared to meet the needs of today’s dynamic drug supply chain while ensuring quality of care to patients.
Through a rigorous and optimized selection process, Avenacy is building out a portfolio of high-quality FDA approved products capable of delivering sustainable growth while providing reliability, safety, and convenience for customers. Products will cover a range of critical medications used to treat patients in various medically-supervised settings, from acute care hospitals to outpatient clinics and physician offices. All products will feature Avenacy’s unique packaging and labeling designed to assist healthcare providers with accurate medication selection, thereby supporting a reduction in administration errors and improper dosing. Avenacy will also provide ready-to-use formulations of essential medications to help address dosing inaccuracies, enhance patient safety, and streamline efficiency – all with the ultimate goal of improving patient care.
“At Avenacy, we are advancing a partnership-driven business model that will enable us to be cost-efficient and nimble to market by focusing on product investment while minimizing manufacturing costs. With nearly 20 development and manufacturing partners already in place across five key geographies, we are well-equipped to begin fulfilling the needs of healthcare systems and providers,” said Jeff Yordon, Co-Founder and CEO of Avenacy. “Our team brings a long-standing legacy in specialty pharmaceuticals and a reputation for prioritizing quality, safety, and reliability. Everything we do, from product selection to partner assessment and supply chain management, will be underpinned by an unwavering commitment to applying the highest industry standards, championing patient safety, and ensuring a dependable drug supply.”
The Avenacy team and its founders Jeffrey Yordon and Kam Phulwani have a proven track record in building successful specialty pharmaceutical companies. The Company is led by Jeffrey Yordon, who previously served as COO of Athenex, Inc. and President of Athenex Pharmaceutical Division, a successful specialty injectable business that launched over 50 products and delivered nearly 40% CAGR revenue growth from 2017-2022. Before joining Athenex, Mr. Yordon founded and led Sagent Pharmaceuticals, a global specialty pharmaceutical company, which was ultimately acquired by Nichi-Iko Pharmaceuticals Company in 2016. Drawing on prior experience and success in specialty pharmaceuticals, Kam Phulwani made a significant investment to fund Avenacy and its expanding pipeline of products for the U.S. market. The management team brings over 245 collective years of industry experience spanning pharmaceutical development, quality, manufacturing, and sales.
Avenacy is well-positioned to address key gaps in the U.S. drug supply landscape. The Company employs a multifaceted strategy incorporating rigorous quality standards, a global partnership model, and deep relationships across the drug development and manufacturing ecosystem, to ensure a dependable and resilient drug supply. Additionally, the industry has been increasingly plagued by shortage issues, with the number of active drug shortages peaking at 301 in the first quarter of 2023. As an essential medicines provider, Avenacy is committed to acquiring products historically facing lower supply, and has an open dialogue in place with the U.S. Food and Drug Administration (FDA) about products at risk for shortages.
Avenacy will be showcasing its differentiated business model, diverse partner network, and experienced leadership team at this year’s CPhI 2023 Conference, taking place in Barcelona from October 24-26. During this time, the Company will be hosting meetings with potential partners, customers, and investors, as it continues to expand its global presence.
About Avenacy
Avenacy is a U.S.-based specialty pharmaceutical company focused on developing, manufacturing, and delivering critical medications used to treat patients in various medically supervised settings, from acute care hospitals to outpatient clinics and physician offices. Through a rigorous and optimized selection process, the Company is building out a pipeline of high-quality FDA approved products in order to ensure a resilient portfolio that can meet the needs of today’s dynamic drug supply chain. With an experienced team, commitment to quality and reliability, and product offerings intended to facilitate safe and efficient patient care, Avenacy strives to be a trusted partner for essential medications.
Avenacy was launched in 2023 and is headquartered in Schaumburg, IL. For more information, please visit http://www.avenacy.com/.
