CVS Health to Begin Nationwide In-Store Sales of Biomerica’s EZ Detect™ Colorectal Disease Screening Test
03 Agosto 2023 - 2:19PM
Biomerica, Inc. (Nasdaq: BMRA) (the “Company”) today announced that
CVS Pharmacy has begun in-store sales rollout of the Company’s EZ
Detect™ colorectal disease screening test in over 7,000 stores
nationwide throughout the CVS Pharmacy retail system. Biomerica has
shipped the EZ Detect product to CVS Health distribution centers in
the US, and the product is projected to be on store shelves in
September. The Company is also working with CVS Health to introduce
an additional Biomerica product to be sold in CVS
pharmacies.
Colorectal cancer (“CRC”) is the second most
common cause of cancer death in the United States. In 2023, an
estimated 153,000 Americans are projected to be diagnosed with CRC,
and an estimated 52,500 are projected to die from the disease,
including 19,500 cases and 3,750 deaths in individuals under the
age of 50 [1].
The EZ Detect™ colon disease screening test is
the simplest at-home test to detect hidden (occult) blood in a
person’s stool, which can be an early warning sign of colorectal
diseases, including colon and rectal cancers. The test does not
require any handling of stool or dietary restrictions. A person
simply places an EZ Detect™ test pad into the toilet after a bowel
movement. A change in the test pad’s color to blue/green, which
would appear within two minutes, indicates the presence of blood in
the stool. The pad is then simply flushed down the toilet. Patients
who see a positive result should consult with their physician for
next steps.
In a study performed by Johns Hopkins
University, EZ Detect™ was preferred 10 to 1 by patients over
another test. Published studies have also indicated that the best
colorectal screening test is “the one that gets done.” [2] Other
colorectal screening tests require handling of the stool and
sending the stool sample to a lab for processing. Because of the
difficulties of handling and mailing stool samples, a high
percentage of these competing tests are never completed by
patients[3]. This potentially increases the risk for delayed
detection of cancer. The EZ Detect™ test does not require handling
of the stool, is simple to perform and provides results at home in
just two minutes.
“We’re excited to broaden the distribution of EZ
Detect in the US,” commented Zack Irani, CEO of Biomerica. “CVS
Pharmacy is the largest Pharmacy system in the USA. Each day,
approximately 5 million customers visit a CVS Pharmacy. Early
detection is a key factor to beating colorectal cancer. The
inclusion of EZ Detect™ on CVS Pharmacy shelves is a significant
development in making our easy and innovative in-home tests
available to more patients.”
As part of its ongoing sales strategy, the
Company has an internal digital and social media team to promote
and increase awareness for its at-home testing products on leading
social media platforms, Including Instagram:
https://bit.ly/3j5FYDB; Facebook: https://bit.ly/3aBJBfN and
Twitter: https://bit.ly/3BNROJW). For further information about the
EZ Detect Product, please visit
www.ezdetect.com.
About Biomerica (NASDAQ:
BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical
technology company that develops, patents, manufactures and markets
advanced diagnostic and therapeutic products used at the point of
care (in home and in physicians' offices) and in hospital/clinical
laboratories for detection and/or treatment of medical conditions
and diseases. The Company's products are designed to enhance the
health and well-being of people, while reducing total healthcare
costs. Biomerica’s primary focus is on gastrointestinal and
inflammatory diseases where the Company has multiple diagnostic and
therapeutic products in development.
About CVS Health
CVS Health is the leading health solutions company, delivering
care like no one else can. CVS reaches more people and improves the
health of communities across America through their local presence,
digital channels and our nearly 300,000 dedicated colleagues –
including more than 40,000 physicians, pharmacists, nurses, and
nurse practitioners. CVS helps people navigate the health care
system – and their personal health care – by improving access,
lowering costs and being a trusted partner for every meaningful
moment of health. Learn more at www.cvshealth.com.
1. Siegel, R.L., et al., Colorectal cancer statistics, 2023. CA
Cancer J Clin. 2023 May-Jun;73(3):233-2542. Lansdorp-Vogelaar, I.,
A.B. Knudsen, and H. Brenner, Cost-effectiveness of colorectal
cancer screening - an overview. Best Pract Res Clin Gastroenterol,
2010. 24(4): p. 439-49.3. Navarro, M., et al.,
Colorectal cancer population screening programs worldwide in 2016:
An update. World J Gastroenterol, 2017. 23(20): p.
3632-3642.
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain information
included in this press release (as well as information included in
oral statements or other written statements made or to be made by
Biomerica) contains statements that are forward-looking, such as
statements relating to the efficacy of the Company’s EZ Detect and
other tests, possible in-store offering of EZ Detect and other
Biomerica products, the number of stores where the EZ Detect and
other products are or will be sold or available, the rapidity of
testing results, negotiations with existing and new domestic and
international distribution partners, uniqueness of the Company’s
products, test result accuracy of products, potential for the
products to detect signs of cancer and other diseases, pricing of
the Company’s test kits, demand for domestic or international
orders, potential revenues from the sale of the EZ Detect test in
the CVS pharmacy system or through other distribution channels, or
from the sales of other products, availability of the Company’s
test kits, performance of the EZ Detect test as compared to
competing products; and patent protection on any of the Company’s
products or technologies. Such forward-looking information involves
important risks and uncertainties that could significantly affect
anticipated results in the future, including, without limitation:
results of studies testing the efficacy of the Company’s EZ Detect
test, InFoods tests and other products; regulatory approvals
necessary prior to commercialization of the Company’s products;
availability of the Company’s test kits and other products;
capacity, resource and other constraints on our suppliers;
dependence on our third party manufacturers; dependence on
international shipping carriers; governmental import/export
regulations; demand for our various tests and other products;
competition from other similar products and from competitors that
have significantly more financial and other resources available to
them; governmental virus control regulations that make it difficult
or impossible for the company to maintain current operations; the
Company’s ability to comply with current and future regulations in
the countries where our products are made and sold and the
Company’s ability to obtain patent protection on any aspects of its
rapid test technologies. Accordingly, such results may differ
materially from those expressed in any forward-looking statements
made by or on behalf of Biomerica. Additionally, potential risks
and uncertainties include, among others, fluctuations in the
Company's operating results due to its business model and expansion
plans, downturns in international and or national economies, the
Company's ability to raise additional capital, the competitive
environment in which the Company will be competing, and the
Company's dependence on strategic relationships. The Company is
under no obligation to update any forward-looking statements after
the date of this release.
Corporate Contact:
Zack Irani949-645-2111zirani@biomerica.com
Source: Biomerica, Inc.
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