Navidea Announces Launch of Lymphoseek in US
Navidea Biopharmaceuticals, Inc. (NYSE: NAVB), a biopharmaceutical company focused on the development and commercialization of precision diagnostic radiopharmaceuticals, today announced the U.S. launch of Lymphoseek^® (technetium Tc 99m tilmanocept) Injection for use in lymphatic mapping procedures that are performed to help in the diagnostic evaluation of potential cancer spread for patients with breast cancer and melanoma. Lymphoseek was approved by the U.S. Food and Drug Administration (FDA) in March 2013.
As part of Navidea's U.S. distribution partnership, Cardinal Health is responsible for the sale and distribution of Lymphoseek to health care professionals through its existing network of nuclear pharmacies. Navidea is working closely with the company in all commercial activities and medical education programs for Lymphoseek.
Lymphoseek has been priced at $300 per patient procedure. Navidea has been working to ensure fair and equitable reimbursement for lymphatic mapping procedures using Lymphoseek. In the case of Medicare, Navidea believes these procedures are currently reimbursable under established codes, and expects to apply for and receive a unique pass-through code for Lymphoseek within a few months. Navidea and Cardinal Health will provide information and support to providers and payers to ensure that they can secure formulary status and appropriate payment.
According to the American Cancer Society, approximately 232,000 new cases of breast cancer and 77,000 new cases of melanoma are expected to be diagnosed in the United States in 2013. One of the procedures used by physicians to help in the diagnostic evaluation of breast cancer and melanoma is lymphatic mapping. Lymphatic mapping is a widely used procedure in which lymph nodes that may contain tumor metastases are identified and biopsied to determine if cancer has spread beyond the primary tumor. Navidea estimates that lymphatic mapping is utilized in approximately 70% of these patients each year in the United States.
Conference Call for Investors
Navidea Biopharmaceuticals will host a conference call for investors, today at 8:30 a.m. EDT to discuss the Lymphoseek launch. Conference call dial-in information is included below.
Conference Call Information TO PARTICIPATE LIVE: TO LISTEN TO A REPLAY: Date: May 1, Available until: May 15, 2013 2013 Time: 8:30 a.m. Toll-free (U.S.) (877) EDT Dial in # : 660-6853 International (201) Dial in # : 612-7415 Toll-free (U.S.) (877) Dial in # : 407-8031 International (201) Dial in # : 689-8031 Replay passcode: 268 Account #: 413373 Conference ID #:
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