Dr. Eduardo Matto has lauched Allied Patients, Inc., a startup dedicated to developing affordable generic medications and do right by patients. Matto, MD, CEO and founder of Allied Patients, Inc., believes a patient-focused pharmaceutical company can revolutionize the healthcare system and improve lives. “Patients are suffering, and medical insurance companies are paying more for healthcare because of unreasonable medication price increases. It’s time for things to change,” said Dr. Matto.
Dr. Matto, a military physician, noticed these problems firsthand when he began treating civilian patients, including the uninsured. “On several occasions, I had a patient that needed an important medication, but simply couldn’t pay for it. I felt helpless and frustrated in these moments—I see the patient suffering, I know exactly what’s wrong with them and how to fix it, but they can’t get the medication they need,” he recalled.
Currently, there are over 500 branded medications without a generic alternative, and monopolies drive unnecessary price increases. Older branded medications no longer cost manufacturers money for research and development, yet certain products have increased in price as much as 2,500 percent in the last three years alone.
With pharmaceutical sales at $333 billion per year and rising, healthcare policy has been unsuccessful at controlling costs, and traditional generic companies are unable to quickly develop low-volume, high-need medications because of consolidation in the industry. Often, the investor focus is on developing generics for branded medications with higher sales volumes.
Allied Patients, Inc. seeks to streamline the way medications are produced and distributed, reducing the red tape and price barriers between patients and the treatments they need. The company relies on a distributed development and manufacturing network that can develop a generic medication and complete bioequivalence study in 12 months. All development work and bioequivalence studies are done in the United States to ensure FDA regulations are met and direct quality monitoring throughout the process.
Dr. Matto stated, “as doctors, researchers and patients, we have seen price increases and drug shortages. Allied Patients has a unique vantage point and will develop generic medications for old branded medications that are highly needed. We intend to be the new model for the pharmaceutical industry—do right by patients.”
(Source: Allied Patients, Inc.)