Concluding 2022: Pharmacolog’s Year in Review

With the pandemic behind us and an expanding demand for our solutions, Pharmacolog began 2022 with great confidence. However, war in Europe, energy shortages and rapidly increasing inflation created new challenges for many companies in the early growth phase. Pharmacolog was no exception. We are indeed growing, but growth is occurring at a slower pace than expected since the purchasing processes continue to be delayed as a result of the pandemic’s lingering effects on delivery systems. In addition, increasing inflation and financial uncertainty have made our customers more cautious.

During the spring, we experienced unexpected measurement results among our Spanish customers that required us to review the workflow of DrugLog users who carry out quality control of prepared chemo toxins. After an initial investigation, we discovered that the strange measurement results were due to the introduction of a new technology, the Closed System Transfer Device (CSTD). Many pharmacies have started using a CSTD during the preparation process to protect employees from exposure to the toxic drugs. These CSTDs caused microbubbles in the finished solution, which affected our measurement results and introduced a systematic error. We quickly identified the cause and developed a routine to avoid the occurrence of microbubbles. The problem is now solved, and we have fully resumed our ongoing business.

While challenges exist, we see several positive signals that give us strong reasons to remain positive and optimistic about 2023.

One example was this year’s ASHP Mid-year Clinical Meeting and Exhibition, held in Las Vegas and attended by more than 22,000 pharmacy professionals. The exhibition and the conference program demonstrated an increased focus on preventing Drug Diversion and improving quality control of prepared medications.  At the last ASHP meeting three years ago, one key focus area was related to preventing bacterial contamination of prepared medication. That topic was barely mentioned at this year’s meeting. Rather, there was a shift in interest towards the business areas where we have efficient solutions to offer, such as DrugLog, WasteLog and PrepLog.

Not only did our WasteLog product receive a lot of attention, but DrugLog also generated significant interest, as it is the only validated and clinically implemented device for true quality control of compounded medication. We do indeed see an increased demand for Pharmacolog solutions in the marketplace despite the combination of a healthcare system under pressure and a year marked by conflict and increasing uncertainty.

This year was undoubtedly challenging, and we are proud to celebrate our collective achievements. We thank you all for your confidence and support in our company and our solutions. We look forward to continuing to work with you in 2023 to improve patient care worldwide.

We wish you and your loved ones all the best during this holiday season and a prosperous, happy, peaceful, and healthy 2023.

Mats Högberg, CEO of Pharmacolog

Uppsala, December 2022

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Photo: Göran Ekeberg