Models demonstrate substantial overall cost savings for hospitals when using OLINVYK compared to IV morphine in postoperative care
CHESTERBROOK, Pa., July 12, 2021 (GLOBE NEWSWIRE) -- Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced the publication of the health economic model for OLINVYK (oliceridine) injection in Journal of Comparative Effectiveness Research. The model estimates the budget impact of OLINVYK compared to IV morphine when used on-demand in a hospital setting for postoperative pain.
The publication is titled, “Cost-effectiveness and Cost-benefit Analysis of Oliceridine in the Treatment of Acute Pain,” with lead author Kit N. Simpson, DrPH, Professor of HealthCare Leadership and Management, College of Health Professions and Public Health, and Director, Comparative Effectiveness Data Analysis Resource (CEDAR) Core at Medical University of South Carolina (DOI: https://doi.org/10.2217/cer-2021-0107).
“I am pleased to have the health economic model now in the published literature – a significant milestone that will continue to support the formulary review process for OLINVYK,” said Mark A. Demitrack, M.D., Senior Vice President and Chief Medical Officer of Trevena. “We have had multiple opportunities to present these compelling cost offset findings to the medical community, and the response from hospital decision makers has been consistently positive and very encouraging.”
As previously announced, the model calculates a significant decrease in total cost of care per 1,000 patients associated with OLINVYK, compared to IV morphine. These cost savings are due to potentially reduced adverse effect(s) (AEs) for OLINVYK-treated patients, as observed in the Phase 3 pivotal trials, and using AE cost estimates based on government and published literature sources.
The publication can be found at https://www.trevena.com/publications. While the cost savings in these health economic models cannot be guaranteed, they are based on generally accepted methodology, and pharmacy and therapeutics committees typically review health economic models when making drug formulary decisions.
About OLINVYK® (oliceridine) injection
OLINVYK is a new chemical entity approved by the FDA in August 2020. OLINVYK contains oliceridine, a Schedule II controlled substance with a high potential for abuse similar to other opioids. It is indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. OLINVYK is available in 1 mg/1 mL and 2 mg/2 mL single-dose vials, and a 30 mg/30 mL single-patient-use vial for patient-controlled analgesia (PCA). Approved PCA doses are 0.35 mg and 0.5 mg and doses greater than 3 mg should not be administered. The cumulative daily dose should not exceed 27 mg. Please see Important Safety Information, including the BOXED WARNING, and full prescribing information at www.OLINVYK.com.
Trevena, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative medicines for patients with CNS disorders. The Company has one approved product in the United States, OLINVYK® (oliceridine) injection, indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The Company’s novel pipeline is based on Nobel Prize winning research and includes four differentiated investigational drug candidates: TRV250 for the acute treatment of migraine, TRV734 for maintenance treatment of opioid use disorder, TRV045 for diabetic neuropathic pain and epilepsy, and TRV027 for acute respiratory distress syndrome and abnormal blood clotting in COVID-19 patients.
For more information, please visit www.Trevena.com
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