Savon is trying to get a foothold in the pharmaceutical industry by partnering with medical device company Medilabs.
The drugmaker is using Savon’s technology to create a new kind of pharmacy that will provide a pharmacy-like experience for patients, with a full prescription database and a full-size pharmacy in the waiting area.
The company recently received approval from the Food and Drug Administration (FDA) for the first of a series of Phase 3 trials of the Savon-Medilabs collaboration, which it says could reduce hospitalizations and increase patient satisfaction.
Savon says its technology has helped doctors and pharmacists in other countries to increase the efficiency and speed of medication delivery.
We’re looking forward to helping to address the urgent medical need in India and other developing countries, said Savon chief executive Rahul Shastri in a statement.
“Our technology can be used to enhance patient convenience, save time and reduce costs in India, helping us to deliver safer, more efficient medicines,” Shastrian added.
In the trial, patients in India will be able to visit a Savon pharmacy that is located in a waiting area within minutes of their arrival at a hospital.
They will have a complete prescription for a medicine, including an order of the medicine, the patient’s medical history and their pharmacy card number, Savon said.
Savont’s technology will also enable doctors to get patients to their destination faster.
Savon is using its own technology to provide a new pharmacy experience.
SavoMed is one of the first new pharmacists to roll out in India.
Its products include generic and branded medicines, as well as other specialty products such as cough syrup, allergy medication, and prescription and non-prescription cough syrup.
The trial will begin with about 50 patients in the first phase, and will increase to about 2,500 patients in Phase 2 and to 3,000 patients in Stage 3.
In the interim, the company is looking to partner with private sector companies to build on the technology to help deliver medicines.
In 2017, Savo was awarded a $7.5 million contract by the Indian government to build a pilot project in the southern state of Kerala to provide pharmaceutical and health care services in the state.
In 2018, the firm received a $4 million contract from the Indian Ministry of Health to build an online pharmacy.
In its statement, Savons said the trial was a “key milestone” for the company.
“We are excited to work with the government of India and our private partners to continue this pioneering project,” the statement said.
Medilab is a leading global medical device supplier, with more than $300 billion in sales.