Moorestown, NJ, April 29, 2020 – Tabula Rasa HealthCare Corporation® (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced today it is running a clinical study assessing the risk of adverse drug events (ADEs) associated with drugs repurposed for the treatment of COVID-19 in older adults on multiple medications.
“This study showcases the depth and breadth of our clinical research capabilities,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “The results from the study will provide the framework for additional clinical trials that will continue to demonstrate the value of our risk stratification algorithms and processes.”
In conducting the study, TRHC Precision Pharmacotherapy Research and Development Institute will utilize the MedWise™ solution to determine each patient’s MedWise Medication Risk Score™ (MRS), which is used as a predictive tool for ADEs. Through the medication risk stratification strategy, TRHC researchers are able to simulate the impact of multiple potential repurposed drugs for COVID-19. The study will use de-identified medication claims data from TRHC’s pharmacy database.
“Our study allows for simulation of the impact of adding, one at a time, each COVID-19 repurposed drug to the actual drug regimens of a large number of frail, elderly patients with polypharmacy—without exposing them to these drugs,” states TRHC Chief Scientific Officer Jacques Turgeon, BPharm, PhD.
TRHC Precision Pharmacotherapy Research & Development Institute Chief Operating Officer Veronique Michaud, BPharm, PhD adds, “We will specifically look at the impact of these drugs on the total MedWise Medication Risk Score and each of its components. These results will allow us to identify which subgroups of patients are at increased risk of toxicity when exposed to one or another COVID-19 repurposed drug used off-label.”
This study will also examine the combined risk of increased ADEs for drug regimens with COVID-19 repurposed adjuvants, especially drug-induced Long QT Syndrome, a disorder that occurs in the heart that can potentially cause fast, chaotic heartbeats, triggering a sudden fainting spell, seizure or in some cases death. The results of this study should be completed and ready for publication within 60 days.
This press release includes forward-looking statements that we believe to be reasonable as of today’s date. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release. These forward-looking statements include, among other things, our goals and expectations regarding the combined company and the integration of PW into TRHC, the expected synergies from the combined company and the expected financial and operating performance of TRHC following the completion of the acquisition. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the risk that we may not be able to achieve our expectations for the combined companies due to challenges in integration and inability to retain key employees; fluctuations in our financial results; the acceptance and use of our products and services by PACE organizations and pharmacies; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; our ability to maintain relationships with a specified drug wholesaler; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; the requirements of being a public company; our ability to recognize the expected benefits from acquisitions on a timely basis or at all; and the other risk factors set forth from time to time in our filings with the Securities and Exchange Commission (“SEC”), including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 2, 2020, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website ir.trhc.com or upon request from our Investor Relations Department. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.