electroCore, Inc. Announces Rebate Agreement with Ascent Health Services for gammaCore Preferred Brand Coverage on all Express Scripts Standard National Formularies
Agreement opens reimbursement pathway for thousands of patients with migraine and cluster headache
BASKING RIDGE, N.J., Jan. 27, 2020 (GLOBE NEWSWIRE) — electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced that Ascent Health Services on behalf of Express Scripts, one of the nation’s leading pharmacy benefit managers (PBMs) headquartered in St. Louis, has elected to make gammaCoreTM a preferred brand on all of its Standard National Formularies for those benefit designs that do not differentiate between drugs and devices at a monthly co-pay of roughly $25- $45. gammaCore is electroCore’s non-invasive vagus nerve stimulation (nVNS) device that is FDA-cleared for the adjunctive use for the preventive treatment of cluster headache, and the acute treatment of pain associated with cluster and migraine headache in adults.
“This agreement with Ascent Health Services on behalf of Express Scripts marks a significant step forward for gammaCore coverage as it opens a new pathway to treatment access for many patients suffering from migraine and cluster headache,” said Dan Goldberger, chief executive officer of electroCore, Inc. “We look forward to this preferred brand coverage and will continue to work with providers, patients and physicians to build upon our mission of helping those suffering from the incapacitating effects of these headache disorders.”
gammaCore™ (nVNS) is the first non-invasive, hand-held medical therapy FDA-cleared as an adjunctive therapy for the preventative treatment of cluster headache and as an acute treatment for pain associated with episodic cluster headache and migraine headache in adult patients. Designed as a portable, easy-to-use technology, gammaCore can be self-administered by patients as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers leading to a modulation of neurotransmitters and a reduction in pain.
gammaCore is the only therapy FDA-cleared for the prevention of cluster headache.
gammaCore is available by prescription only and patients should speak with their doctor about whether gammaCore is right for them.
gammaCore™ (non-invasive vagus nerve stimulator) is intended to provide non-invasive vagus nerve stimulation (nVNS) on the side of the neck. gammaCore is indicated for:
- Adjunctive use for the preventive treatment of cluster headache in adult patients.
- The acute treatment of pain associated with episodic cluster headache in adult patients.
- The acute treatment of pain associated with migraine headache in adult patients.
- The safety and effectiveness of gammaCore (nVNS) have not been established in the acute treatment of chronic cluster headache
- gammaCore has not been shown to be effective for the preventive treatment of migraine headache
- The long-term effects of the chronic use of gammaCore have not been evaluated
- Safety and efficacy of gammaCore have not been evaluated in the following patients, and therefore it is NOT indicated for:
• Patients with an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
• Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
• Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
• Pediatric patients
• Pregnant women
• Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia
- Patients should not use gammaCore if they:
• Have a metallic device such as a stent, bone plate, or bone screw implanted at or near their neck
• Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)
NOTE: This list is not all inclusive. Please refer to the gammaCore Instructions for Use for all of the important warnings and precautions before using or prescribing this product.
About electroCore, Inc.
electroCore, Inc. is a commercial-stage bioelectronic medicine company dedicated to improving patient outcomes through its platform non-invasive vagus nerve stimulation therapy initially focused on the treatment of multiple conditions in neurology and rheumatology. The company’s initial targets are the preventative treatment of cluster headache and acute treatment of migraine and episodic cluster headache.
For more information, visit www.electrocore.com.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore’s business prospects, sales and marketing, and product development plans, future cash flow projections, anticipated costs, its pipeline or potential markets for its technologies, the availability and impact of payer coverage, the potential product use for other indications, and other statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “believes,” “intends,” other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business, sales and marketing, and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to successfully commercialize gammaCore™, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.