MeadWestvaco Corporation MWV has entered into a licensing agreement with Burgopak Ltd. This transaction solidifies MeadWestvaco’s strategic commitment to improve medication adherence through packaging.
As per the deal, MeadWestvaco Healthcare will promote Burgopak’s award-winning medication adherence packaging to the pharmaceutical and animal health markets in the United States. Patient non-adherence has become a well-documented global issue. Data proves that an estimated 50% of patients do not take their medication as prescribed. The need to address this challenge is growing rapidly across diverse corners of the healthcare sector, including the pharmaceutical industry. Therefore, the market for adherence packaging is growing given its positive impact on patients’ medication consuming behavior.
This agreement with Burgopak enhances MeadWestvaco’s suite of adherence solutions. Over the last decade, MeadWestvaco Healthcare has provided a suite of proven adherence solutions to branded and generic pharmaceutical manufacturers globally, as well as U.S. retail pharmacies. More than 700 million of MeadWestvaco Healthcare’s adherence packages have been dispensed which includes the Shellpak family of packaging. MeadWestvaco Healthcare is also a leader in developing child-resistant packaging.
Burgopak’s adherence-enhancing package has won 16 awards. It offers a premium, unique functionality and presentation that can support a differentiation strategy for high-end or lifestyle pharmaceutical brands. Burgopak’s package increases adherence through improved communication and patient engagement.
A calendar feature can be incorporated into the design, and the package also keeps the patient information leaflet and medication connected at all times. The Burgopak package was fashioned on the basis of patient insights, which led to a design that’s convenient and portable to fit with users’ lifestyles. It is available with the highest level of child resistance or without a child-resistance feature. Additionally, its tray-based carrier makes it ideal for use with blister materials, such as cold form foil, that are less suitable for other adherence packaging formats.
Richmond, VA-based MeadWestvaco is a global packaging company providing innovative solutions to the world’s most renowned brands in the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries. The company also produces specialty chemicals for automotive, energy and infrastructure industries.
Currently, MeadWestvaco has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector include Rexam plc REXMY, Fibria Celulose SA FBR and Sappi Limited SPPJY. While Rexam sports a Zacks Rank #1 (Strong Buy), Fibria Celulose and Sappi Limited carry a Zacks Rank #2 (Buy).
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