FDB and PetIQ Announce Upcoming Release of Industry’s First Veterinary Medications Database
October 3, 2018
Veterinary database will deliver codified, up-to-date information on
pet medications, structured for integration into existing pharmacy
systems
SOUTH SAN FRANCISCO, Calif. & EAGLE, Idaho–(BUSINESS WIRE)–#FirstDatabank–FDB (First Databank, Inc.), the leading provider of drug and medical
device knowledge that helps healthcare professionals make precise
decisions, and PetIQ,
Inc. (Nasdaq: PETQ), a leading provider of services, prescriptions and
OTC medications for pets to mass, club, food, drug and e-commerce
channels, announced their partnership on the upcoming release of the
industry’s first drug database of veterinary medications for a variety
of pet species.
The veterinary database will be the only drug database to deliver
codified, up-to-date information on pet medications, structured for easy
integration into existing pharmacy systems and workflows to support pet
medication commerce and drug dispensing. The database of pet medications
will be consistent in structure with the FDB
MedKnowledge™ solution which has been widely deployed and
used throughout the retail, PBM, and mail order pharmacy channels for
decades.
The rapidly changing supply chain for pet medications has resulted in
increased competition from non-traditional sellers. Consumers now have
more choice of where to buy medications for their pets, and the evolving
supply chain has created opportunities for pharmacies to play a key role
in prescription dispensing. According to the Federal Trade Commission,
most consumers still get prescription and over-the-counter medications
for pets from their veterinarians. However, the number of retail
pharmacies, online pharmacies and other retail outlets dispensing
veterinarian prescriptions has increased significantly over the last
decade, with consumer spending on pet medications doubling during the
past 12 years to $8.6
billion by the end of 2017.
“We have long felt that professionals dispensing veterinary medications
would desire similar capabilities as provided by FDB for human
medication information,” said Chuck Tuchinda, MD, MBA, executive vice
president, Hearst Health and president, FDB. “FDB can apply our decades
of experience in curating and distributing electronic information for
human medications to the veterinary market, which will ultimately
improve medication safety and care, while also empowering the retail
channel to provide consumers with more choice on where they get their
pet medications.”
PetIQ, a rapidly growing pet health and wellness company, will be the
first FDB customer and an important partner, supplying the full
complement of the pet medications it makes available to its customers,
to support development of the database. PetIQ plans to deploy the
veterinary pet medication database in support of its network of leading
national retail stores in wholesale, club, grocery, pharmacy, and
e-commerce channels.
“We are thrilled with our joint effort with FDB to bring such a powerful
tool to support the explosive growth of veterinarian prescriptions
dispensed through retail pharmacies,” said Adam Fellers, senior vice
president, sales, PetIQ. “The partnership between our two companies has
made this exciting project come to fruition and we are extremely excited
to see the responsibility, comfort and compliance it will bring to our
retail pharmacy customers.”
To learn more about the upcoming release of the veterinary medications
database, contact Phil Lettrich, strategic alliances manager, FDB, plettrich@fdbhealth.com
and Adam Fellers, senior vice president, sales, PetIQ, adam.fellers@petiq.com.
About PetIQ
PetIQ is a leading, rapidly growing pet health and wellness company.
Through over 40,000 points of distribution across retail and e-commerce
channels, PetIQ and VIP Petcare, a wholly-owned subsidiary, have a
mission to make pet lives better by educating pet parents on the
importance of offering regular, convenient access and affordable choices
for pet preventive and wellness veterinary products and services. PetIQ
believes that pets are an important part of the family and deserve the
best products and care we can give them. For more information, visit www.PetIQ.com.
About First Databank (FDB)
FDB is the leading provider of drug and medical device knowledge that
helps healthcare professionals make precise decisions. With thousands of
customers worldwide, FDB enables our information system developer
partners to deliver valuable, useful, and differentiated solutions. We
offer more than three decades of experience in transforming medical
knowledge into actionable, targeted, and effective solutions that help
improve patient safety, operational efficiency, and healthcare outcomes.
For a complete look at our solutions and services, please visit www.fdbhealth.com
or follow us on Twitter
and LinkedIn.
About Hearst Health
The Hearst Health network includes FDB
(First Databank), Zynx
Health, MCG,
Homecare
Homebase, MedHOK,
Hearst
Health Ventures and the Hearst
Health Innovation Lab (www.hearsthealth.com).
Hearst also holds a minority interest in the precision medicine and
oncology analytics company M2Gen.
The mission of Hearst Health is to help guide the most important care
moments by delivering vital information into the hands of everyone who
touches a person’s health journey. Each year in the U.S., care guidance
from Hearst Health reaches 85 percent of discharged patients, 205
million insured individuals, 70 million home health visits and 3.2
billion dispensed prescriptions.
©2018 First Databank, Inc. Part of the Hearst Health network.
All trademarks mentioned herein are the properties of their respective
owners.
Contacts
First Databank (FDB)
Denise Apcar, 650-872-4514
dapcar@fdbhealth.com