Premier, Inc. and Long Grove Pharmaceuticals Join Forces to Increase Supply of Norepinephrine IV Bags

CHARLOTTE, N.C., September 30, 2024 - Premier, Inc. (NASDAQ: PINC), through its ProvideGx® program, has entered into an agreement with Long Grove Pharmaceuticals to supply Norepinephrine IV bags, helping to meet immediate and long-term supply needs for a therapy to treat patients with low blood pressure and heart failure.

Norepinephrine IV bags have experienced ongoing product availability issues over the past five years as demand has outpaced supply. With few suppliers in the market, the Premier and Long Grove Pharmaceuticals collaboration supports supplier diversification and a more stable product supply by increasing the availability of adequate safety stock on a long-term basis.

"We're pleased to offer Norepinephrine Premix IV bags through the ProvideGx supply channel," said Peter Karas, Chief Commercial Officer at Long Grove Pharmaceuticals. "This joint effort with Premier, coupled with our rapidly amplified improvements on a variety of complex generic drug reformulations, will help to simplify processes, increase efficiency and support reliable product supply for a critical drug."

"Our collaboration with Long Grove Pharmaceuticals is yet another step forward to help ensure a more robust supply environment and the continued availability and affordability of high-quality therapies for healthcare providers and patients," said Bruce Radcliff, Senior Vice President of Supply Chain Services at Premier. "Together, we are enabling a more diversified pharmaceutical market designed to create sustainable supply of a drug product that is vital for patient care in the U.S."

Guided by health systems with more than 1,600 hospitals across the nation, Premier's ProvideGx program creates long-term committed buying contracts with participating manufacturers - creating a steady demand signal and guaranteed customer base for manufacturers in exchange for their production of generics in shortage, which helps maintain safety stocks and more diversified supply sources. ProvideGx offers members access to more than 150 drugs that are or have been recently designated as shortage drugs. The program has successfully helped resolve 15 drug shortages, resulting in their official delisting from the FDA's shortage list.

Forward-Looking Statements

Statements made in this release that are not statements of historical or current facts, including but not limited to those related to Premier's ability to advance its long-term strategies and develop innovations for, transform, and improve healthcare, and the intended or expected performance or utility of Premier's products and services, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from historical results or from any future performance or achievements expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. Forward-looking statements may include comments as to Premier's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to risks and uncertainties, many of which are outside Premier's control. More information on risks and uncertainties relating to Premier and its products and services is included from time to time in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Premier's periodic and current filings with the SEC, which are also made available on Premier's website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made, and Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events that occur after that date, or otherwise.

About Long Grove Pharmaceuticals

Long Grove Pharmaceuticals was established in 2019 by Water Street Healthcare Partners. The company is part of Capstone Development Services, which has been developing products in partnership with the world's premier pharmaceutical and medical device organizations since 2013. Combining decades of pharmaceutical and hospital leadership experience with a portfolio of specialized, complex drug formulations, Long Grove Pharmaceuticals is delivering differentiated products that increase hospital pharmacy operational efficiency and help improve the quality of patient care.