ShortMeds Expands Offerings to “LongMeds”

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ShortMeds has now expanded its services and allows manufacturers and healthcare distributors to post products that have greater than 12 months of expiration dating.

ShortMeds, a web-based service headquartered in St. Louis, MO, was formed in 2004 to assist pharmaceutical manufacturers and healthcare distributors deplete product inventories with short shelf lives, known in the industry as short-dated products. It has now expanded its services and allows manufacturers and healthcare distributors to post products that have greater than 12 months of expiration dating.

“Some companies that post short-dated inventories with us have expressed an interest in posting products that are not classified as short-dated. This is usually because they have limited sales forces and have benefited from the increased exposure ShortMeds has given them”, says John Matthews, President of ShortMeds. “The company buyers registered with us have coincidentally expressed an interest in seeing these types of products posted on ShortMeds. So, we just made the next logical step”, he says. Initially, ShortMeds expects to have an average of $3 million of new LongMeds from manufacturers and healthcare distributors posted on its site every week. These will be in greater quantities and will allow pharmaceutical buyers to name their own prices, as they can currently do for many of the short-dated products posted.

ShortMeds has registered over 250 buyers from healthcare distributors, chain drug stores, independent pharmacies, long-term care pharmacy providers, hospitals and federal facility providers. They plan to increase their membership by penetrating more deeply into the 24,000 independent pharmacies in the US market.

When a company posts products on the web site, ShortMeds sends out an email to all registered buyers. They login into ShortMeds, view detailed product information and make requests. ShortMeds then sends a report to sellers, including quantity, pricing and buyer contact information. “We don’t take possession of the products nor do we process any payments. This way the seller maintains control, and the process is very clean”, says Matthews.

He goes on to say, “We provide a service that helps manufacturers and healthcare distributors operate more efficiently and effectively. ShortMeds is really just a communication tool that companies can use to supplement their sales forces. It provides a centralized location where buyers can do some one-stop shopping for discounted short-dated pharmaceuticals. It now can help companies promote their regular inventories too.”

ShortMeds is a division of Incentials, LLC, formed in 2001. Companies that post products on ShortMeds must be licensed members of the Healthcare Distribution Management Association (HDMA) and must comply with the Prescription Drug Marketing Act (PDMA).

For more information contact:

John Matthews

Phone: (314) 660-4438

Email: jm@shortmeds.com

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