TherapeuticsMD, Inc. (NYSE MKT: TXMD), a women's healthcare company, commented today on yesterday's passage of H.R. 3204, the Drug Quality and Security Act.
Robert Finizio, Chief Executive Officer and Co-founder of TherapeuticsMD, said, "The Drug Quality and Security Act is intended to improve the safety of drugs manufactured by compounding pharmacies in the United States and is a vital step for protecting public health. We applaud the many legislators in both houses of Congress who came together in a strong bipartisan effort to pass this critical legislation.
"Compounding pharmacies play an important role in our healthcare system, complementing the broad range of products available from pharmaceutical companies by making it possible for consumers to access drugs in certain formulations they would otherwise be without. We are proponents of tighter FDA oversight to ensure that safety, efficacy and quality standards of pharmacy-compounded products safeguard public health and restore trust in the products produced and sold by these pharmacies."
This legislation received strong bipartisan support in both the House of Representatives and the Senate. The complete text of the Drug Quality and Security Act can be found online at http://docs.house.gov/billsthisweek/20130923/BILLS-113hr__-trackandtrace-SUS.pdf.About TherapeuticsMD, Inc. TherapeuticsMD, Inc. is a women’s healthcare company focused on developing and commercializing products targeted exclusively for women. We are developing advanced hormone therapy pharmaceutical products based on novel technologies that enable delivery of bioidentical hormones through a variety of dosage forms and administration routes. We also manufacture and distribute branded and generic prescription prenatal vitamins, as well as over-the-counter vitamins and cosmetics, under our vitaMedMD ® and BocaGreenMD ® brands. More information is available at the following websites: www.therapeuticsmd.com , www.ReplenishTrial.com , www.vitamedmd.com , www.vitamedmdrx.com, and www.bocagreenmd.com. Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including but not limited to: the likelihood that the Drug Quality and Security Act will become law; the potential impact of the Drug Quality and Security Act, if made law, on pharmacy compounding of bioidentical hormone replacement therapy (HT) products; the timely and successful development by TherapeuticsMD of new HT products; the impact of competitive products and pricing; the ability to obtain and enforce patents and other intellectual property rights; the risks and uncertainties associated with economic and market conditions; risks and uncertainties associated with the Company’s business and finances in general; and other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission including its annual report on Form 10-K filed on March 12, 2013, reports on Form 10-Q and Form 8-K, and other such filings. These forward-looking statements are based on current information that may change. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward- looking statement to reflect events or circumstances after the issuance of this press release.