Targeted Medical Pharma Pre-announces 2013 Unaudited Q1 Revenue

–Company Reports Five Consecutive Quarters of Growth–

 

Los Angeles, April 23, 2013, Targeted Medical Pharma, Inc. (OTCQB: TRGM), a biotechnology company that develops and distributes prescription medical foods to physicians and pharmacies, today announced unaudited revenue of $2,811,000 for the first quarter ended on March 31, 2013, a 104% increase from the $1,375,000 reported for the same period of the prior year and increased from $2,396,000 of the fourth quarter of 2012.

“We continued to experience steady growth of new markets nationally, and an increase in both prescribing and insurance reimbursements for our high value medications,” said Chief Executive and Chief Science Officer William Shell, M.D. “Our proprietary medical foods are becoming more widely prescribed as they are appealing to both physicians and patients who are in need of safe and efficacious medications for the treatment of complex disease states.”

2013 Strategic Initiatives

The key initiatives we intend to pursue to continue accelerating revenue growth for fiscal year 2013 are:

  • Expand sales and marketing efforts to increase

–       prescribing in the Workers’ Compensation markets

–       prescribing in the private insurance markets

–       prescribing in the Medicare and Medicaid markets

  • Conduct additional clinical trials for current and pipeline products
  • Continue development of new products for neuropathy, chronic anemia, asthma, and diabetes

“This was our 5th consecutive quarter of growth and our most exceptional to date,” said David S. Silver, M.D., Targeted Medical Pharma’s President and Chief Operating Officer. “The growing demand for our prescription medications by both patients and physicians who have long sought alternatives to more dangerous prescription drugs has helped support this sustained growth.”

Download the full release here.

About Targeted Medical Pharma, Inc.

Targeted Medical Pharma is a Los Angeles-based biotechnology company that develops prescription medical foods  for the treatment of chronic disease, including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders.  The company manufactures 10 proprietary prescription-only medical foods, as well as 48 convenience packed kits, which pair a medical food and branded or generic pharmaceutical.  These prescription medical foods and therapeutic systems are sold to physicians and pharmacies in the United States through the company’s subsidiary, Physician Therapeutics. These proprietary medications represent a novel approach to the management of certain disease states, focusing on safety and efficacy without the deleterious side effects of traditional, high dose prescription drugs.  The company is developing nutrient-based systems for oral stimulation of progenitor stem cells that differentiate into neurons, red blood cells, pituitary hormones including IGF-I. Targeted Medical Pharma also provides diagnostic testing as well as billing and collection services on behalf of dispensing physicians.

Forward Looking Statement

This press release may contain forward-looking statements related to the company’s business strategy, outlook, objectives, plans, intentions or goals. The words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Actual results could differ materially. Targeted Medical Pharma expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

#               #               #

 

Targeted Medical Pharma Announces Registration Statement

Los Angeles, April 18, 2013 – Targeted Medical Pharma, Inc. (OTCQB: TRGM) (the “Company”), a biotechnology company that develops and distributes prescription medical foods to physicians and pharmacies, today announced that its Form S-1 registration statement (the “Registration Statement”), which registers up to 25,723,395 shares of common stock (“Shares”) for resale by selling stockholders on a delayed or continuous basis, has cleared comments with the United States Securities and Exchange Commission and accordingly, the Company has requested the Registration Statement be declared effective at 4:00 p.m. EST on April 19, 2013. The Company will not receive any proceeds from the sale of the Shares by the selling stockholders. All the proceeds from any sale of the Shares will be for the respective account of each selling stockholder. The final prospectus related to the Registration Statement can be accessed through EDGAR via www.sec.gov.

About Targeted Medical Pharma, Inc.

Targeted Medical Pharma, Inc. is a Los Angeles-based biotechnology company that develops  prescription medical foods  for the treatment of chronic disease including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders. The company manufactures ten proprietary prescription only medical foods.  These prescription medical foods and therapeutic systems are sold to physicians and pharmacies in the U.S. through the company’s subsidiary, Physician Therapeutics. These proprietary medications represent a novel approach to the management of certain disease states, focusing on safety and efficacy without the deleterious side effects of traditional, high dose prescription drugs. Targeted Medical Pharma also provides diagnostic testing as well as billing and collection services on behalf of dispensing physicians.  

Forward Looking Statements

Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions.  These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company’s filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.

 ###

Targeted Medical Pharma to Present at American Medical Society for Sports Medicine

Los Angeles, April 15, 2013, Targeted Medical Pharma, Inc. (OTCQB: TRGM), a biotechnology company that develops and distributes prescription medical foods, convenience kits and generic pharmaceuticals to physicians and pharmacies, will present clinical information on the benefits of Theramine® at the American Medical Society for Sports Medicine’s (AMSSM) 22nd Annual Meeting, April 17-21, at the Manchester Grand Hyatt in San Diego.

The five-day conference is designed to provide regional, national and international perspectives on a broad range of sports medicine topics, including sessions on extremity injuries, controversies in sports medicine, sports-related concussions and issues in youth sports.

“Offering cutting-edge treatment options in the area of pain and inflammation are extremely important within the sports medicine community,” said Dr. Fred McCall-Perez, Director of Medical Affairs at Targeted Medical Pharma. “Medical foods like Theramine are an excellent option for helping manage pain and inflammation due to sports-related injuries, without the risks associated with non-steroidal anti-inflammatory drugs and opiate pain medications.” 

About Targeted Medical Pharma, Inc.’s Medical Foods

Targeted Medical Pharma’s medical foods are amino acid-based, FDA-regulated medications specially formulated to meet the body’s increased nutritional requirements of certain disease states.  They are a safe and effective option for treating pain syndromes, sleep and cognitive disorders, obesity, hypertension and peripheral neuropathy without harmful side effects.  These medical foods are available by prescription only and must be administered under the ongoing supervision of a physician.

About Targeted Medical Pharma, Inc.

Targeted Medical Pharma, Inc. is a Los Angeles-based biotechnology company that develops prescription medical foods  for the treatment of chronic disease, including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders.  The company manufactures 10 proprietary prescription-only medical foods, as well as 48 convenience packed kits, which pair a medical food and branded or generic pharmaceutical.  These prescription medical foods and therapeutic systems are sold to physicians and pharmacies in the U.S. through the company’s subsidiary, Physician Therapeutics. These proprietary medications represent a novel approach to the management of certain disease states, focusing on safety and efficacy without the deleterious side effects of traditional, high dose prescription drugs. The company is developing nutrient-based systems for oral stimulation of progenitor stem cells that differentiate into neurons, red blood cells, pituitary hormones including IGF-I. Targeted Medical Pharma also provides diagnostic testing as well as billing and collection services on behalf of dispensing physicians.  

# # #

Targeted Medical Pharma Appoints Dr. David Silver as President and COO

Los Angeles, April 3, 2013, Targeted Medical Pharma, Inc. (OTCQB: TRGM), a biotechnology company that develops and distributes prescription medical foods, convenience kits and generic pharmaceuticals to physicians and pharmacies, today announced the promotion of David Silver, M.D., to the newly created position of president and chief operating officer, where he will oversee the company’s expansion efforts and daily operations, while continuing his responsibilities as executive vice president of medical and scientific affairs.

“Dr. Silver has been an integral part of our organization since giving up his private practice two years ago to join us full time,” said William Shell, M.D, the company’s CEO and chief scientific officer. “He has been instrumental in helping us reach this important inflection point. His strong leadership skills will be leveraged as we work to expand our sales force, bringing our prescription-only medical foods to patients and physicians across the United States.”

Dr. Silver has conducted more than 100 clinical trials and is a national expert on pain, fibromyalgia and rheumatologic diseases.  He is a practicing board-certified rheumatologist and internist, and served as clinical chief of rheumatology and director of the chronic pain rehabilitation program at Cedars Sinai Medical Center in Los Angeles.  Dr. Silver remains active in academia as an associate clinical professor of medicine at UCLA.  He received a Bachelor of Arts degree in medical sciences with a minor in economics from Boston University.  After earning a medical degree from Boston University’s School of Medicine, he completed his residency in Internal Medicine at Northwestern University’s School of Medicine, with a fellowship in Rheumatology at Cedars Sinai Medical Center.

About Targeted Medical Pharma, Inc.

Targeted Medical Pharma is a Los Angeles-based biotechnology company that develops prescription medical foods  for the treatment of chronic disease, including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders.  The company manufactures 10 proprietary prescription-only medical foods, as well as 48 convenience packed kits, which pair a medical food and branded or generic pharmaceutical.  These prescription medical foods and therapeutic systems are sold to physicians and pharmacies in the U.S. and the Middle East through the company’s subsidiary, Physician Therapeutics. These proprietary medications represent a novel approach to the management of certain disease states, focusing on safety and efficacy without the deleterious side effects of traditional, high dose prescription drugs.  The company is developing nutrient-based systems for oral stimulation of progenitor stem cells that differentiate into neurons, red blood cells, pituitary hormones including IGF-I. Targeted Medical Pharma also provides a billing and collection services on behalf of dispensing physicians.

Forward Looking Statement

This press release may contain forward-looking statements related to the company’s business strategy, outlook, objectives, plans, intentions or goals. The words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Actual results could differ materially. Targeted Medical Pharma expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

#               #               #

Targeted Medical Pharma Reports 2012 Results

 

–Company to Focus on Marketing/Sales; Expanding Product Pipeline in 2013–

Los Angeles, CA April 1, 2013, Targeted Medical Pharma, Inc. (OTCQB: TRGM), a biotechnology company that develops and distributes prescription medical foods, convenience kits and generic pharmaceuticals to physicians and pharmacies, today filed its 10-K and announced the Company’s 2012 financial results.

“We are pleased to report that the second half of 2012 has come back strong and clearly reflects the traction we are seeing as we continue to gain momentum,” said Chief Executive and Chief Scientific Officer William Shell, M.D. “Revenue decreased in the first half of 2012 primarily due to concerns among physicians regarding the changes in legislation that could have impacted payments to physicians who dispense pharmaceuticals. Fortunately, the final bill did not impact the sale of medical foods or medical food convenience kits.  When physicians understood this in the second half of 2012, the Company saw an acceleration of growth.”

Dr. Shell continued, “A second bill passed accelerating payment of old workers compensation claims.  As our Company recognized revenue for workers compensation claims only upon collection, this benefits our Company twofold – both through improved cash flow and increased revenue.  In July, the acceleration of both dispenses and collections of workers compensation claims were seen due to the legislation that ultimately passed.  Another consequence of this legislation has been the near elimination of the compounded pain medication marketplace. The impact on the compounded medication marketplace, which is a competitor for medical foods in some cases, has also positively increased medical food dispensing and revenue, particularly the Company’s product Theramine®.  The Company continues to show a narrowing of its net operating loss and improvement of its EBIDTA based on the preliminary unaudited analysis of its 2013 first quarter performance.”

As of December 31, 2012 the Company had a $34.4 million off balance sheet asset due to unrecorded accounts receivable for delivered products.  This unrecognized off balance sheet asset has the potential to be recorded as revenue in the future as the Company’s CCPI subsidiary collects receivables on behalf of the Company’s Physician Managed business model and Hybrid business model customers’ claims.

Dr. Shell, M.D. continued, “Our strategic focus over the past year has been to expand distribution channels and enhance reimbursement mix, increase cash collections, and further develop our pipeline of proprietary prescription-only medical foods. I am pleased to report that we have made solid progress against each of these initiatives, as the Company transitions from development stage into a growing business with excellent long-term potential.”

“On the corporate front, we welcomed Kerry Weems to our board of directors.  Mr. Weems is a nationally respected expert in health policy and government finance, who most recently was Acting Administrator of the Centers for Medicare and Medicaid Services (CMS) and Vice-Chairman of the American Health Information Community,” said Dr. Shell. “We also announced the appointment of Fred McCall-Perez, Ph.D. as our new director of medical affairs.

Key 2012 and Recent Achievements

  • On March 4, 2013 the Company unveiled new results from an open label study of its oral amino acid-based erythrocyte stimulating system (ESS) for the treatment of chronic anemia. The Company’s ESS system is designed to stimulate progenitor stem cells in the bone marrow.
  • Awarded a patent on February 5, 2013 from the United States Patent and Trademark Office relating to a system and method for electronically submitting medication claims by point-of-care physicians. This is the seventh patent issued to the Company.
  • In December of 2012, five of the Company’s core prescription-only medical foods were added to the U.S. Department of Veterans Affairs Federal Supply Schedule.
  • Entered into an agreement with Cambridge Medical Funding Group, allowing physicians to assign California Workers’ Compensation receivables to Cambridge, providing revenue to the Company and physicians within seven to ten days of assignment for all products dispensed and billed for participating doctors.
  • Reported data from an open-label pilot study indicating that Target Medical Pharma’s new amino acid-based oral product Percura™ reduced symptoms of pain and numbness related to peripheral neuropathy. This product is designed to orally stimulate progenitor neuronal stem cells, promoting their growth.
  • Reported data indicating that Targeted Medical Pharma’s new amino acid oral formulation stimulated mature red blood cell and reticulocyte development. The study group included patients with chronic anemia. This product is designed to orally stimulate genesis of bone marrow progenitor stem cells. The company submitted four new patent applications related to the oral stimulation of progenitor stem cells.
  • Confirmed a relationship between autonomic nervous system dysfunction and Gulf War Illness.  This is the first study to establish a medical basis for symptoms of Gulf War Illness in a large, representative sample of veterans using validated medical tests.

Published Scientific Papers

  • Analyzing pharmacoeconomics of Targeted Medical Pharma’s drug, Theramine®, versus non-steroidal anti-inflammatory drugs, showing a significant cost saving for patients taking Theramine compared to NSAIDs when accounting for the cost of the side effects of NSAIDs.
  • Demonstrating that Sentra PM® improved sleep latency and improved nighttime parasympathetic nervous system activity as a standalone medication or used in conjunction with a low dose of Trazadone, based on results from a clinical trial of the Company’s proprietary medical food product, Sentra PM.

Accepted to Present Clinical Posters

  • Accepted to present “Theramine versus ibuprofen for the safe and effective management of chronic low back pain and inflammation,” at PAINWeek 2012, held in Las Vegas, Nevada, and at the 118th Annual Meeting of AMSUS in Phoenix 2012.

2013 Corporate Objectives

The Company provided the following key strategic goals for 2013:

  • Expanding its presence in the Workers’ Compensation marketplace, beginning with California and then nationally;
  • Further increasing penetration in the private insurance market, as well as into Medicare and Medicaid populations; and accelerating its sales and marketing efforts.
  • Continue developing its product pipeline.  The Company’s treatments for neuropathy, chronic anemia, asthma, nasal congestion and diabetes are currently undergoing clinical studies.

“We are dedicated to bringing our prescription medications to patients who have long sought alternatives to more dangerous prescription drugs,” said David S. Silver, M.D., Targeted Medical Pharma’s President and Chief Operating Officer.  “Increasing recognition of medical foods as a class within the U.S. Food & Drug Administration, along with heightened awareness among the medical community and patients, positions us for commercial success.  Ensuring broad patient access and building our brand presence represent key objectives, as we move forward in the current year.”

Detailed financial data information is available on Targeted Medical Pharma’s annual report (Form 10-K), which is accessible on the Company’s website and on this page of the SEC’s website.

About Targeted Medical Pharma, Inc.

Targeted Medical Pharma is a Los Angeles-based biotechnology company that develops prescription medical foods  for the treatment of chronic disease, including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders.  The company manufactures 10 proprietary prescription-only medical foods, as well as 48 convenience packed kits, which pair a medical food and branded or generic pharmaceutical.  These prescription medical foods and therapeutic systems are sold to physicians and pharmacies in the U.S. and the Middle East through the company’s subsidiary, Physician Therapeutics. These proprietary medications represent a novel approach to the management of certain disease states, focusing on safety and efficacy without the deleterious side effects of traditional, high dose prescription drugs.  The company is developing nutrient-based systems for oral stimulation of progenitor stem cells that differentiate into neurons, red blood cells, pituitary hormones including IGF-I. Targeted Medical Pharma also provides a billing and collection services on behalf of dispensing physicians.

Forward Looking Statement

This press release may contain forward-looking statements related to the company’s business strategy, outlook, objectives, plans, intentions or goals. The words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Actual results could differ materially. Targeted Medical Pharma expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

Download Press Release Here.

#               #               #