FDA Reclassification of Hydrocodone to Schedule II Could Boost Sales.
PALO ALTO, CA, Dec. 5, 2013 /CNW/ - The PAWS Pet Company, Inc.
(OTCQB:PAWS), is pleased to announce that work on the name change to
Praxsyn Corporation is nearing completion and that the Company expects
to be able to file a request with FINRA early next week along with
filing the necessary filings and disclosures with the SEC and the State
Furthermore, the audit of Mesa Pharmacy, Inc.'s (MESA) financial
statements is very nearly complete and the parties believe that once
the name change is effective, the parties believe that the acquisition
can be closed rapidly. The parties have specified a target date on or
around December 21, 2013.
Furthermore, during November 2013, MESA's sales of its non-narcotic
topical pain management creams exceeded $3,600,000, however the Company
believes that the recent decision by the FDA to recommend the
reclassification of Hydrocodone Combination Products to Schedule II
could have profoundly beneficial effects on sales of Mesa Pharmacy,
Inc.'s primary products.
On October 24 2013, the FDA announced its intention to recommend to the
Department of Health and Human Services (HHS) that Hydrocodone
Combination Products should be reclassified to a different and more
restrictive schedule (From Schedule III to Schedule II, which includes
drugs like morphine and oxycodone). The net effect being that
hydrocodone combination products could no longer be prescribed over the
phone, instead requiring that all prescriptions be in writing and with
no more than a three month supply.
The FDA made this decision at the request of the Drug Enforcement Agency
(DEA) in 2009, as Hydrocodone Combination Products are now one of the
leading causes of accidental death from overdose.
However, these products form the backbone of pain management in the
workers' compensation care system and making their prescription more
difficult both practically and legally is cause for major concern.
Mesa's pain management creams are non-narcotic, are applied directly to
the injured area and are not addictive nor habit forming. As a result,
physicians and insurers need not worry about treating an injured worker
and winding up having to treat that worker's potential addiction to
pain killing narcotics like Hydrocodone Combination Products.
Finally, work continues towards implementing our In-Office Dispensing
Program (IODP) during the first half of December 2013 through our
Advanced Access Pharmacy Services, LLC (AAPS) subsidiary. Our IODP
program has been designed to provide physicians the ability to
prescribe and dispense medicines in-office, allowing patients to obtain
diagnoses and prescriptions in one visit.
About The PAWS Pet Company, Inc.
The PAWS Pet Company, Inc. is undergoing a transition from the pet space
to the pharmaceutical space. This exciting transition strategy has been
developed to take advantage of the changes underway in traditional
medical services. PAWS believes that great opportunities exist in
pharmaceuticals and how they are delivered to the public.
For more information on The PAWS Pet Company go to:
Certain statements made in this press release are forward-looking in
nature (within the meaning of the Private Securities Litigation Reform
Act of 1995) and, accordingly, are subject to risks and uncertainties.
The actual results may differ materially from those described or
contemplated and consequently, you should not rely on these
forward-looking statements as predictions of future events. Certain of
these risks and uncertainties are discussed in the reports we filed
with the SEC.
SOURCE: The PAWS Pet Company, Inc.
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