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Biotech / Medical : GMED - GenoMed Inc.
GMED 65.61-0.5%Jun 14 4:00 PM EDT

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To: BiotaBull who wrote (251)3/14/2005 11:09:15 PM
From: Tadsamillionaire   of 347
 
GenoMed, Inc. Says New Medicare Legislation May Accelerate Acceptance of Its Therapy
ST LOUIS, March 10 /PRNewswire-FirstCall/ -- GenoMed, Inc. (Pink Sheets: GMED - News) said today that recently adopted legislation allowing pharmacists to take an expanded role in providing healthcare could accelerate acceptance of the company's treatment protocol for a number of diseases.The company said the adoption by Congress of the Medicare Modernization Act allows a pharmacist, under a doctor's supervision, to help manage patients' medications. It provides compensation to the pharmacists for services such as checking blood pressure and adjusting blood pressure medication.

"This is potentially an important development for GenoMed," said GenoMed CEO and chief medical officer David W. Moskowitz. "One of the obstacles to the broad acceptance of our treatment protocol has been the difficulty patients encounter in obtaining appointments with their physician. In the startup phase of our protocol, relatively frequent appointments are needed to take blood pressure and adjust the drug dosage of ACE inhibitor, which is the core of our treatment. That has been difficult because physicians are so busy that seeing them every two weeks is often impossible. Now that the difficulty of adopting our treatment can be easier, patients may be more willing to enroll."

"Our patent-pending protocols to arrest or prevent diabetes, high blood pressure and other diseases are ideal for the nation's 55,000 retail pharmacists. They can work closely with physicians and GenoMed while seeing patients with the frequency needed to gather and provide the necessary data to titrate the dosage. Since under the new law pharmacists are able to receive compensation for services like taking blood pressure and adjusting medication, they should be willing to participate," Moskowitz said.

Moskowitz, speaking earlier this week at the 28th annual conference of the National Council of Prescription Drug Plans said GenoMed's data has demonstrated that ACE inhibitors can prevent kidney failure in patients with diabetes or high blood pressure. ACE inhibitors are a commonly prescribed drug that, as their name implies, inhibits the action of the ACE gene. GenoMed's research has identified ACE as a "master disease gene" linked to the development of a large number of common diseases.

Moskowitz noted that other speakers at the conference agreed that prescription drugs are the best value in health care. Properly used, they can eliminate hospitalization, which is far more expensive. They can also prevent the onset of many diseases that, once contracted, require ongoing and expensive treatment.

Several of the large Pharmacy Benefit Management organizations represented at the conference expressed an interest in the GenoMed protocol because it employs drugs that are available in generic form. These organizations have been strong advocates of the use of generic drugs to help control healthcare costs.

"We believe the Medicare Modernization Act provides us with an opportunity to accelerate the acceptance of our protocol. The interest expressed by various entities in using GenoMed's treatment, combined with the economic incentives now available to retail pharmacists make it easier for patients to participate. We are actively pursuing this opportunity and are encouraged by the more favorable environment," Moskowitz said.

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