St. Louis company buys local specialty drug pharmacy

Robinson-based Pantherx Rare Pharmacy, one of the nation’s largest specialty drug pharmacists, has been acquired by Centene Corp., a Fortune 50 managed health care giant based in St. Louis.

Pantherx Rare specializes in so-called orphan drugs, which treat rare diseases and disorders — treatments that are not offered by the larger pharmaceutical industry because of the limited market for the drugs.

From its start in 2011 out of a garage, the company has become a billion-dollar specialty pharmacy offering 500 drugs to treat 7,000 rare and devastating medical conditions.

The deal is expected to close by the end of the year. However, the terms were not disclosed in the announcement.

“We are elated to enter a partnership that will propel us to the next level and provide opportunities for growth and stability while fostering an independence that delivers greater benefits to our patients and associates,” stated Gordon Vanscoy, founder and CEO of Pantherx, in the announcement.

“Centene has committed to nurturing our patient-centric culture and focus on quality that is fundamental to Pantherx’s tremendous success,” he said.

The company streamlines the process of getting rare medications from the companies that create them to the patients who need them.

Pantherx Rare had 2019 revenue of $1.18 billion.

Once the deal closes, Pantherx and its management team will continue to operate independently as part of Centene’s Envolve Pharmacy Solutions, a drug management program that includes integrated pharmacy benefit manager and specialty pharmacy services, the news release said.

Pantherx Rare is currently ranked 1,154 on Inc. Magazine’s 2020 list of the nation’s fastestgrowing private companies, with a 391% growth rate.

Earlier this month, the company was selected by Alnylam Pharmaceuticals as a very limited distribution pharmacy partner for its new drug oxalate. The drug has been approved by the U.S. Food and Drug Administration for the treatment of primary hyperoxaluria type 1 to lower urinary oxalate levels in pediatric and adult patients.

Centene CEO Michael Neidorff said the acquisition of Pantherx Rare will complement his company’s long-standing commitment to providing care to the most underserved complex populations.

“Pantherx adds a unique capability to our comprehensive pharmacy portfolio,” Mr. Neidorff said. “We share a common goal of helping to remove barriers and reduce the burden for our members living with complex rare diseases.”