North Shore-LIJ Subsidiary Signs First Deal with Pharma Company
Capital New York
October 27, 2014
By Dan Goldberg
North Shore-L.I.J., in another example of its quest for new revenue, will soon announce an agreement with Otsuka America Pharmaceutical (OAPI), Capital has learned.
It is the first contract secured by the Vanguard Research Group, a spin-off company created by L.I.J. in January to manage clinical studies. The four-year $28.8 million agreement signed with OAPI will have Vanguard manage, monitor and coordinate the clinical study evaluating Abilify Maintena (aripiprazole), an extended-release injectable schizophrenia drug for intramuscular use. The focus of the study is to test whether the new drug is more effective than standard, oral medication for patients in the early stages of schizophrenia.
Vanguard provides the pharmaceutical companies with research sites and patients to test their new drugs.
"The creation of the Vanguard Research Group and the signing of its first contract with OAPI is an important event that we believe sets the stage for better clinical research in populations of patients with psychiatric illnesses in North America,” said Dr. John Kane, who leads the new company. “We are confident that the expertise we provide to global pharmaceutical, biotech and device companies will contribute to the development of new, promising treatment that can improve the lives of countless patients worldwide.”
Vanguard is just one example of new programs launched by North Shore-L.I.J. Ventures, which the health system created to commercialize ideas from its physicians.
The health system in recent years has branched out far beyond its core business of providing health care. Last year, it launched Care-Connect, an insurance company offered on New York's health benefits exchange.
Last month, L.I.J. announced the creation of HealthForce, a business that offers medical coding services to organizations across the country that transfer to ICD-10, the new set of diagnostic codes set to take effect in 2015.
L.I.J. also announced it has partnered with GoHealth Urgent Care to open 50 urgent care clinics across the state. The first two locations—in Massapequa and Forest Hills—will open in November.
And this summer, L.I.J. announced a partnership with The Cleveland Clinic for cardiac care, which the health system expects to bring it a stream of new patients.