Galt Phranchise Systems' community-driven model aims to restore the direct feedback loop between patients, doctors, and pharmacists, revealing the interconnected nature of effective local healthcare. Atlanta Today
Galt Phranchise Systems, founded by Wade Smith and Barry Patel, is introducing a new franchise model in the pharmaceutical industry that applies systemic behavior theory and cybernetic feedback principles to restore community-based pharmaceutical care through a closed network of local patients, practitioners, and independent pharmacies. ## Why It Matters The U.S. healthcare system has become increasingly complex with the insertion of multiple intermediaries between patients and their local providers. Galt Phranchise Systems aims to simplify this process and empower local practitioners to deliver more effective, personalized care. ## The Details Galt Phranchise Systems' franchise structure enhances the ability of physicians to prescribe treatments for their patients unencumbered by contracts, guidelines, regulations, and policies, while restoring the working feedback loop between patient, doctor, and pharmacist that is essential to effective care. The model is grounded in systemic theory, using cybernetic feedback mechanisms to allow the system's core components - patient, doctor, and pharmacist - to thrive within a community-driven framework. - Galt Phranchise Systems was founded in 2026. ## The Players **Galt Phranchise Systems:** The first franchise model in the pharmaceutical industry, founded by Wade Smith and Barry Patel to apply systemic behavior theory and cybernetic feedback principles to restore community-based pharmaceutical care. **Wade Smith:** Co-founder of Galt Phranchise Systems. **Barry Patel:** Co-founder of Galt Phranchise Systems. ## What They're Saying > "It took us a few years, but we've been able to work with our franchisees to create an efficient business model using feedback mechanisms found in systemic behaviors. This model understands healthcare is best delivered within a community." > — **Wade Smith, Co-founder, Galt Phranchise Systems** > "The spirit of entrepreneurialism guided by systemic behavior patterns is the engine driving Galt Phranchise Systems forward. Locally driven care facilitates effective treatment without the financial incentives introduced by national intermediaries." > — **Barry Patel, Co-founder, Galt Phranchise Systems** ## What's Next Galt Phranchise Systems plans to continue expanding its franchise model to more communities across the country, aiming to restore the direct connection between patients, doctors, and pharmacists. --- *This article was originally published on National Today.* --- ## The Culture Barry Patel Built Inside Galt Companies, and Why It Drives Everything Else - Type: News - URL: https://galtfranchise.com/news/the-culture-barry-patel-built-inside-galt-companies/ - Published: 2026-03-28 - Author: Brian Kochanski - Summary: Barry Patel has built Galt Companies around a culture that treats every person in the ecosystem as the reason the business exists, making values and operations inseparable. There is a pattern in how [Barry Patel](https://www.linkedin.com/in/patelbarry/) describes [Galt Companies](https://galtrx.com). He talks about patients. He talks about pharmacists. He talks about franchisees. He talks about employees. The financial performance of the business is real and significant, but in [Barry Patel](https://www.linkedin.com/in/patelbarry/)'s framing, it is downstream of something else: a culture that treats every person in the ecosystem as the reason the business exists. His co-founder Wade Smith shares that orientation, and together the two have built a company where that conviction shows up in daily operations rather than just in mission statements. [Barry Patel](https://www.linkedin.com/in/patelbarry/) is the co-founder and CEO of [Galt Pharmaceuticals](https://galtrx.com) and Galt Phranchise Systems, a company built on the conviction that a family-first work culture and meaningful business outcomes reinforce each other rather than compete. Employees who feel genuinely valued make better decisions. Franchisees who trust their franchisor invest more fully in the relationships that drive their success. Pharmacists who are supported rather than squeezed by the companies they work with provide better care. That logic holds at every level of the [Galt](https://galtrx.com) ecosystem, and [Barry Patel](https://www.linkedin.com/in/patelbarry/) has designed the company to reflect it structurally, not just aspirationally. Work-life balance at [Galt](https://galtrx.com) is an operating principle rather than a talking point. [Barry Patel](https://www.linkedin.com/in/patelbarry/) has treated it as a design constraint from the beginning, embedding it into how the company hires, how it measures success internally, and how it defines the obligations it holds toward the people who build careers inside the organization. That commitment runs against a certain mythology in entrepreneurship, the idea that building something significant requires subordinating everything else to the mission. The [Galt](https://galtrx.com) experience suggests otherwise. Companies that invest in sustainable conditions for their people tend to build the institutional loyalty and decision quality that compound into lasting advantage. The same philosophy extends to [Galt](https://galtrx.com)'s franchise partners. The guiding principle inside [Galt](https://galtrx.com) Phranchise Systems is direct: you are in business for yourself, not by yourself. The franchise gives local entrepreneurs a complete infrastructure to build on, including training, support, product knowledge, compliance frameworks, and the backing of a company that treats franchisee success as the organization's success. One franchisee who left corporate pharmaceutical sales described what that felt like from the inside: "Moving from a corporate pharmaceutical sales role to becoming a franchisee was the best career move I've made." A Louisiana franchise started with two territories and expanded to ten. A Georgia franchise grew from two to seven. Roughly 40% of current franchisees are multi-unit owners, a figure that speaks directly to the quality of the support structure the team built around them. For independent pharmacies, [Galt Pharmaceuticals's](https://galtrx.com) direct sales model and advocacy support reflect the same underlying commitment. These businesses are the frontline of healthcare access in many rural and underserved communities. Strengthening them is both the right thing to do and a strategic imperative for a pharmaceutical company that believes local relationships drive better patient care. [Barry Patel](https://www.linkedin.com/in/patelbarry/) and Wade Smith have structured [Galt](https://galtrx.com) to fight alongside independent pharmacies, selling to them directly and advocating for patients to access the medications they need. That clarity of purpose is what holds the culture together across every layer of the organization. Companies that articulate values without anchoring them to operational decisions tend to see those values erode under pressure. [Barry Patel](https://www.linkedin.com/in/patelbarry/) has built [Galt](https://galtrx.com) in a way that makes the values and the operations inseparable, so that serving patients well, supporting the healthcare providers who care for them, and backing the entrepreneurs who reach those providers all flow from the same foundational conviction. [Barry Patel](https://www.linkedin.com/in/patelbarry/) and Wade Smith were finalists for the Ernst and Young Entrepreneur of the Year Award in 2025. When they talk about what that recognition means, both credit the employees and franchisees whose daily work made it possible. The business they have built together, structured around purpose, people, and the genuine conviction that entrepreneurism changes lives, is the fullest expression of the culture they set out to create from the beginning. --- *This article was written by Brian Kochanski and originally published on USA Wire.* --- ## How Barry Patel and Wade Smith Turned a Classical Medication Model Into a Modern Patient-Care Engine - Type: News - URL: https://galtfranchise.com/news/barry-patel-wade-smith-classical-medication-modern-patient-care/ - Published: 2026-03-23 - Author: Dr. Natalie Rhodes - Summary: Galt Companies are modernizing patient care by reviving proven medications and delivering them through an innovative franchise distribution model. The pharmaceutical industry has a bias toward novelty. Newer compounds command higher prices, generate more research interest, and attract more marketing investment. That bias has left a meaningful category of medications underutilized: older, clinically proven drugs that work, cost less, and carry fewer risks than their modern replacements. Barry Patel and Wade Smith built Galt Pharmaceuticals to bring them back, and built Galt Phranchise Systems to make sure those medications actually reach the patients who need them. Barry Patel and Wade Smith are the co-founders of Galt Companies, which encompasses Galt Pharmaceuticals and Galt Phranchise Systems. The pharmaceutical division focuses specifically on classical medications that address two of the most common and consequential clinical challenges in primary care: non-addictive pain management and insomnia. Both categories have been significantly shaped by the opioid crisis and by growing awareness of the risks associated with certain commonly prescribed sleep aids. The clinical case for better alternatives has never been stronger. Bringing a classical medication back to market requires navigating the same regulatory environment as any pharmaceutical product. The Galt team has done that work deliberately, with a focus on clinical evidence and patient outcomes rather than on patent exclusivity or marketing advantage. The result is a portfolio of medications with established safety profiles, clear mechanisms of action, and genuine unmet need driving demand. Getting those medications to patients requires a distribution model that reaches the community physicians and independent pharmacists who serve the patients who need them most. That is the function Galt Phranchise Systems was created to fill. The system works because the incentives are designed correctly. A Galt franchisee is a business owner with a territory, a brand, a product portfolio, and the full infrastructure support of a franchisor behind them. One franchisee who made the transition from corporate pharmaceutical sales captured the distinction precisely: "For the first time, I'm not just hitting quota for a CEO I've never met. I am building equity in a territory I own." That ownership mentality compounds over time. A Louisiana franchise expanded from two territories to ten. A Georgia franchise grew from two to seven. Around 40% of franchisees now hold multiple territories, and the path from introduction to launch runs 30 to 60 days. Chief Franchise Advisor Mike Harley has been instrumental in developing the operational infrastructure that makes that onboarding timeline possible, ensuring new franchisees are equipped and supported from day one. Galt Pharmaceuticals is also actively expanding its clinical pipeline. Several medications in the current portfolio have potential applications beyond their FDA-approved indications, and the team has plans for clinical trials to pursue expanded approvals. Those approvals would allow existing medications to help additional patient populations without requiring entirely new development investments. The business model Barry Patel and Wade Smith built is ultimately an argument about what pharmaceutical distribution should look like when organized around patient access rather than corporate efficiency. That argument is gaining traction, as evidenced by the growth of the franchise network, the strength of multiple complementary sales channels, and the recognition both founders received as Entrepreneur of the Year finalists in 2025. --- *This article was written by Dr. Natalie Rhodes and originally published on MedWorld News.* --- ## The Pharmaceutical Industry's Distribution Problem: Barry Patel and Wade Smith's Approach - Type: News - URL: https://galtfranchise.com/news/pharmaceutical-industry-distribution-problem-barry-patel-wade-smith/ - Published: 2026-03-18 - Author: Galt Phranchise™ System - Summary: Barry Patel and Wade Smith are closing the gap in American healthcare through Galt's localized pharmaceutical franchise model, empowering local entrepreneurs to deliver non-addictive pain management solutions to underserved communities. There is a gap in American healthcare that most people feel, but few can name precisely. Patients in rural communities struggle to access the medications they truly need. Community independent pharmacies fight for survival against corporate consolidation. Physicians receive product education almost exclusively from large pharmaceutical sales forces with quotas to hit and shareholders to satisfy. [Barry Patel](https://www.linkedin.com/in/patelbarry/), co-founder and CEO of [Galt Companies](https://www.galtrx.com/), saw that gap alongside his co-founder, Wade Smith, and decided to close it from the inside. [Galt](https://www.galtrx.com/) operates through two interconnected entities: [Galt Pharmaceuticals](https://www.galtrx.com/), which focuses on bringing back classical, clinically proven medications primarily for non-addictive pain management, and Galt Phranchise Systems, an innovative pharmaceutical franchising model. The structure is deliberate. Rather than deploying armies of corporate sales representatives, Barry Patel and Wade Smith give local entrepreneurs the tools, training, and support to educate physicians and independent pharmacies in their communities in compliance. That localized model is a fundamental improvement over the centralized approach that has dominated the industry for decades. The proof is in the people who have built businesses inside it. One franchisee who made the move from a corporate pharmaceutical sales role put it plainly: "For the first time, I'm not just hitting quota for a CEO I've never met. I am building equity in a territory I own." That distinction, between executing someone else's agenda and building something of your own, is at the center of what Barry Patel and Wade Smith designed Galt Phranchise Systems to make possible. A local franchisee understands the specific needs of their healthcare providers and patients in ways that a corporate big pharma rep never will. They have skin in the game, relationships built over time, and a direct stake in the outcomes they produce. That alignment between entrepreneurial spirit and patient outcome is precisely what the corporate model struggles to replicate. Many of the current Galt franchisees are multi-unit owners, indicating strong confidence in the model's scalability. One Louisiana franchise started with two territories in 2019 and has since expanded to ten across Louisiana and Mississippi. A Georgia franchise followed a similar path, growing from two territories in 2021 to seven within the state. The medications themselves reflect the same patient-first philosophy. With opioid addiction representing one of the most significant public health crises of the past quarter century, [Galt Pharmaceuticals](https://www.galtrx.com/) has focused specifically on pain management options that address clinical need without introducing addiction risk. Both Barry Patel and Wade Smith share the conviction that entrepreneurship holds its value only when driven by genuine purpose, and in healthcare, that purpose begins with the patient. The two were finalists for the Ernst and Young Entrepreneur of the Year Award in 2025, a recognition that reflects the scale of what they have built together. The metric Patel and Smith return to most often is simpler: the number of patients who can now access effective, non-addictive pain relief because a local pharmacist or physician had a trusted partner who showed up, explained the clinical case, and stayed to support the outcome. That is what the Galt franchise model was designed to produce. --- *Disclaimer: This article is for informational purposes only and does not constitute medical advice. The views expressed are those of the authors and do not reflect the opinions of any affiliated entities. Always consult with a healthcare professional for personalized medical advice and treatment.* *This article was originally published on [ATL Wire](https://atlwire.com/the-pharmaceutical-industrys-distribution-problem-barry-patel-and-wade-smiths-approach/).* --- ## Why Barry Patel Believes Entrepreneurism Is the Most Powerful Force in Healthcare Reform - Type: News - URL: https://galtfranchise.com/news/barry-patel-entrepreneurism-healthcare-reform/ - Published: 2026-03-14 - Author: Galt Phranchise™ System - Summary: Barry Patel explains why local, purpose-driven entrepreneurs—not government mandates or corporate consolidation—hold the key to fixing America's four-trillion-dollar healthcare system. The American healthcare system spends approximately four trillion dollars annually and still fails a significant portion of the patients it is meant to serve. [Barry Patel](https://www.linkedin.com/in/patelbarry/) has spent years inside that system alongside his co-founder Wade Smith. Their shared conclusion is that the path forward does not run through government mandates or corporate consolidation. It runs through entrepreneurs. [Barry Patel](https://www.linkedin.com/in/patelbarry/) is the co-founder and CEO of [Galt Companies](https://www.galtrx.com/), built around the conviction that local, purpose-driven business owners understand and respond to community healthcare needs more efficiently than any centralized institution. The company's two divisions reflect that conviction in practice. [Galt Pharmaceuticals](https://www.galtrx.com/) develops and distributes clinically proven, non-addictive medications for pain management. Galt Phranchise Systems is the infrastructure that gets those medications to patients through a network of local entrepreneurial franchisees who own their territories, build their own client relationships, and have a direct financial stake in the outcomes they produce. The franchise model required significant risk to launch. The co-founders invested personal capital, navigated regulatory complexity, and brought a concept to market that had never existed in pharmaceuticals before. The skepticism was real. Pharmaceutical distribution has operated through a standardized corporate model for generations, and the idea of franchising that function struck many observers as either naive or impractical. The vision they held was precise: a qualified, motivated sales professional deserves the opportunity to build equity in a territory of their own rather than spend a career hitting quotas for a company they will never own a piece of. One Kentucky franchisee who made that exact transition described the shift directly: "Moving from a corporate pharmaceutical sales role to becoming a franchisee was the best career move I've made." What changed skeptics' minds was results. Galt's franchisees are educated, motivated business owners who understand the clinical case for the medications they represent, build compliant relationships with the physicians and pharmacists they serve, and earn revenues based on the success of patients' care journeys. Around 40% of current franchisees are multi-unit owners. Franchisees in Louisiana and Georgia have each multiplied their original territory counts several times over, reflecting a scaling pattern that the corporate pharmaceutical model, with its fixed territories and salaried reps, is structurally incapable of replicating. The medications at the center of that model carry genuine clinical significance. [Galt Pharmaceuticals](https://www.galtrx.com/) has brought back classical, validated medications that address patient needs the modern pharmaceutical industry largely abandoned in favor of newer, more profitable compounds. In pain management specifically, where opioid dependency has cost hundreds of thousands of lives, having access to effective non-addictive alternatives matters enormously. The broader argument shared by both co-founders is that this innovative distribution model helping to meet unmet clinical need is a template for addressing a wide range of healthcare challenges. The system's inefficiencies are structural, and structural problems respond best to structural entrepreneurism. [Galt](https://www.galtrx.com/) is their proof of concept. --- *This article was originally published on [Ritz Herald](https://ritzherald.com/why-barry-patel-believes-entrepreneurism-is-the-most-powerful-force-in-healthcare-reform/).* --- ## Galt Phranchise™ System Expands into New York - Type: News - URL: https://galtfranchise.com/news/galt-phranchise-system-expands-into-new-york/ - Published: 2026-01-20 - Author: Galt Phranchise™ System - Summary: Galt Phranchise™ System announces expansion into New York with the launch of 6 new franchise territories, continuing its mission to empower local entrepreneurs in community-based healthcare. **New York — January 20, 2026** — Galt Phranchise™ System, the pharmaceutical franchise model redefining community-based healthcare, is proud to announce its expansion into New York with the launch of 6 new franchise territories across the state. This strategic growth marks a significant milestone in Galt's mission to empower local entrepreneurs and healthcare professionals to deliver high-quality pharmaceutical care directly within their communities. With this expansion, Galt continues to lower barriers to entry into the highly regulated pharmaceutical industry, enabling compliant, patient-centric enterprises that serve neighborhoods with authenticity and care. "We're thrilled to welcome these new franchisees into the Galt family," said Mike Harley, Chief Franchise Officer of Galt Phranchise™ System. "Their commitment and passion to community health and entrepreneurial spirit is in alignment with our vision of transforming pharmaceutical access through local ownership." Galt Phranchise™ System continues to enhance the traditional pharmaceutical model by offering a scalable, franchise-based approach that prioritizes community engagement, regulatory compliance, and sustainable growth. With this expansion, Galt is deepening its footprint in New York, bringing its FDA-approved prescription portfolio and educational outreach to Brooklyn, while expanding access to innovative treatments and building strong partnerships in Queens. **About Galt Phranchise™ System ("GPS")** Founded in 2018, Galt Phranchise™ System is redefining pharmaceutical distribution by creating a unique franchise opportunity for entrepreneurs to own and operate local pharmaceutical sales enterprises. The GPS model empowers individuals to promote health-related products through education, outreach, and relationships—while providing superior support to navigate the complexities of the pharmaceutical industry. --- For media inquiries or franchise opportunities, please visit [GaltFranchise.com](https://galtfranchise.com) or call 855-965-2783. --- ## Mike Harley Appointed Chief Franchisor Officer - Type: News - URL: https://galtfranchise.com/news/mike-harley-appointed-chief-franchisor-officer/ - Published: 2025-05-20 - Author: Galt Phranchise™ System - Summary: Galt Phranchise™ System announces Mike Harley as Chief Franchisor Officer, bringing over 40 years of franchise development expertise to lead GPS expansion efforts. Galt Phranchise™ System is proud to announce the appointment of Mike Harley as its new Chief Franchisor Officer. **ATLANTA, GA, UNITED STATES, May 20, 2025** [/EINPresswire.com/](https://www.einpresswire.com/article/814114335/mike-harley-appointed-chief-franchisor-officer-at-galt-phranchise-systems) — Galt Phranchise System LLC ("GPS") is proud to announce Mike Harley's appointment as its new Chief Franchisor Officer. Harley will bring decades of experience in franchise development and strategic business growth to the company. With a career spanning over 40 years, Mike has built and led successful national and international franchise systems, transforming brands into global powerhouses. Mike's franchise expertise dates back to 1983, when he played a pivotal role in expanding a low-cost car rental brand into a global network of over 1,000 locations across 50 countries. Later, as President and COO of Payless Car Sales, he started and led the company's growth to nearly 60 dealerships across 16 states and Puerto Rico in under five years. His leadership propelled brands to new heights, earning them recognition on the Franchise Times Top 200 Franchises List. **"I am thrilled to join the Galt family and contribute to its mission of delivering accessible healthcare products through a robust franchise network." — Mike Harley** Beyond franchising, Mike has guided strategic growth and development across multiple industries, including travel, parking, retail, e-commerce, digital marketing, and other B2C verticals. His ability to boost revenue, profitability, and operational efficiency has made him a sought-after visionary strategist for franchise brands looking to scale. At GPS, Mike will spearhead Galt's franchise expansion efforts, ensuring that Galt Pharmaceuticals' FDA-approved products reach a broader audience through a well-planned and sustainable growth model. His dynamic, hands-on leadership and forward-thinking vision will be instrumental in shaping GPS's future as the first-ever pharmaceutical franchise model. "I am thrilled to join the Galt family and contribute to its mission of delivering accessible healthcare products through a robust franchise network," said Harley. "Franchising is a powerful tool for growth, and I look forward to leveraging my experience to support franchisees and elevate the brand's success." **About Galt Phranchise System** Based in Atlanta, GA, Galt Phranchise™ System (GPS) is the first and only franchisor to partner with a pharmaceutical company to create a unique franchise concept that allows an entrepreneur or business entity to market and promote pharmaceutical and health-related products in their local markets. With Galt Pharmaceuticals ([www.galtrx.com](https://www.galtrx.com/)) managing the high-barrier industry functions, Galt Phranchise™ System has worked hard in building the foundation and business systems that allow Phranchise Owners to focus on operating their truly patient-centric, local businesses. With over 500 territories available across the nation, GPS seeks entrepreneurial-minded sales or healthcare professionals looking to disrupt the big pharma model by decentralizing pharmaceutical sales and distribution. --- **Contact:** Tucker Bedingfield Galt Companies +1 855-965-2783 Visit us on social media: [LinkedIn](https://www.linkedin.com/company/galtphranchisesystem) --- *Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.* --- ## Galt Founders Named EY Entrepreneur of the Year Finalists - Type: News - URL: https://galtfranchise.com/news/ey-entrepreneur-of-the-year-finalists-2025/ - Published: 2025-04-28 - Author: Galt Phranchise™ System - Summary: Galt Companies co-founders recognized among the region's most innovative and impactful entrepreneurs for their groundbreaking work in pharmaceutical franchising and non-opioid pain management solutions. **ATLANTA, GA, UNITED STATES, April 28, 2025** /EINPresswire.com/ — Ernst & Young LLP (EY US) announced the finalists for the prestigious Entrepreneur Of The Year 2025 Southeast Award. The Southeast program celebrates entrepreneurs from Alabama, Georgia, North Carolina, South Carolina and Tennessee. Now in its 40th year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world's most ground-breaking companies, revolutionizing industries and making a profound impact on communities. The program honors bold entrepreneurs whose innovations shape the future and pave the way for a thriving economy and a hopeful tomorrow. An independent panel of judges selected Dr. Barry Patel and Dr. Wade Smith among 36 finalists for their entrepreneurial spirit, purpose, growth and lasting impact in building long-term value. **About Galt Companies** Galt Companies is the parent organization of Galt Pharmaceuticals and Galt Phranchise Systems. Galt Pharmaceuticals focuses on acquiring, developing, and commercializing prescription medications with strong product-market fit—targeting areas of unmet clinical need. The company brings its medications to market through four distinct sales channels, including the industry's first-ever pharmaceutical franchising model: Galt Phranchise Systems. This innovative approach empowers healthcare entrepreneurs to build localized, community-driven pharmaceutical businesses under the Galt brand. "We're incredibly honored to be named finalists for the EY Entrepreneur of the Year award," said Barry Patel, CEO and co-founder of Galt Companies. "Wade and I built Galt alongside a team that has shown remarkable resilience and commitment through every challenge. This recognition is a reflection of their passion, perseverance, and belief in doing things differently to improve healthcare." Entrepreneur Of The Year honors business leaders for their ingenuity, courage and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future. Regional award winners will be announced on June 25 during a special celebration in Atlanta, GA and will become lifetime members of an esteemed community of Entrepreneur Of The Year alumni from around the world. The winners will then be considered by the National judges for the Entrepreneur Of The Year National Awards, which will be presented in November at the annual Strategic Growth Forum®, one of the nation's most prestigious gatherings of high-growth, market-leading companies. **Sponsors** Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh USA, and SAP. In the Southeast, sponsors also include VACO, LLC as the regional Platinum sponsor; ADP and King & Spalding as the regional Gold sponsors; and Babbit Bodner as the regional Silver sponsor. **About Entrepreneur Of The Year** Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally. The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit ey.com/us/eoy. **About EY** EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets. Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow. EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories. All in to shape the future with confidence. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com. --- **Contact:** Tucker Bedingfield Galt Companies +1 855-965-2783 Visit us on social media: [LinkedIn](https://www.linkedin.com/company/galtphranchisesystem) --- *Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.* --- ## Rising Stronger: Celebrating the Galt Journey - Type: Blog - URL: https://galtfranchise.com/blog/rising-stronger-celebrating-galt-journey/ - Published: 2024-12-19 - Author: Barry Patel - Summary: Reflecting on our journey, celebrating our achievements, and looking forward to an exciting future of growth and innovation in pharmaceutical franchising. As 2024 draws to a close, we take a moment to reflect on an extraordinary year that marks a turning point in our journey. After eight years of perseverance, innovation, and an unwavering commitment to helping patients, 2024 has been our best year yet at Galt Companies. Galt's story is one of resilience and determination. As a self-funded company, we've faced significant challenges, from navigating the complexities of the pharmaceutical industry to weathering the storm of the Covid-19 pandemic. While the early days tested our resolve, they also defined who we are today—a company built on the foundation of grit, adaptability, and a steadfast mission to serve patients with innovative, non-opioid, non-addictive pain management solutions. The pandemic was a particularly difficult chapter, as it limited our ability to connect directly with healthcare providers and disrupted many of our traditional avenues for growth. Rather than retreat, we used those challenges to strengthen our core by finding ways to diversify our approaches to the market. We invested in building robust systems, refining our processes, and aligning our operations to support our unique model—one that prioritizes collaboration with entrepreneurs and local, community-based independent pharmacies. We emerged from those challenging times stronger and more prepared for the opportunities ahead. And what a year 2024 has been! This year, we added Tolectin®DS to our Norgesic® promotions to give healthcare providers 'muscle or bone' options in providing effective pain relief without the risks associated with opioids. We also expanded our distribution network, welcoming new franchisees and independent pharmacy partners who share our vision and values. These collaborations bring our medications to more patients and communities across the country. Additionally, we undertook a comprehensive upgrade of our CRM platforms, empowering our sales professionals and franchisees with cutting-edge tools to better serve healthcare providers and ensure that our products reach those who need them most. While 2024 has been a banner year, we know it's just the beginning. The foundation we've laid over the past eight years positions us for even greater achievements in the years to come. Our journey continues as we are more motivated than ever to innovate, collaborate, and make a meaningful impact in the lives of patients. To our team, our franchisees, our distributors, our independent pharmacy partners, and all our supporters: thank you for believing in our vision and for being part of this incredible journey. As we look ahead to 2025 and beyond, we do so with excitement and confidence that the best is yet to come. Here's to rising stronger together! --- ## The Galt Franchise Model: What It Takes to Succeed - Type: Blog - URL: https://galtfranchise.com/blog/the-galt-franchise-model-what-it-takes-to-succeed/ - Published: 2024-11-19 - Author: Kevin Vora - Summary: Discover what qualities make successful Galt franchisees and learn about the benefits of owning a Galt franchise territory in the pharmaceutical industry. Starting a business from scratch can be daunting, but franchising offers a proven model that reduces risk while giving you the independence of business ownership. One standout option is the Galt Franchise Model known for its robust growth, support system, and innovative mentality that makes it easier for entrepreneurs to hit the ground running. However, success in this business isn't guaranteed without the right approach and mindset. In this article, we will explore what qualities are necessary to succeed as a Galt franchisee, the benefits of owning a Galt franchise territory, and lessons learned that could better prepare new franchisees for success. ## What qualities do you need to be a successful Galt franchisee? While Galt provides a solid foundation for its franchisees to be successful, there are several key individual qualities that can enhance your chances of success: **Entrepreneurial spirit**: Even though a franchise comes with a business model, a franchisee must still have an entrepreneurial mindset. You need to be proactive, adaptable, and willing to take a calculated risk. Galt provides the playbook, but you need to bring the drive to go the extra mile. **Willingness to follow a proven system**: One of the strengths of the Galt franchise model is its consistency. The system works but only if franchisees are willing to follow it. A successful franchisee must be disciplined in following operational guidelines while finding creative ways to improve within those boundaries. **Strong communication skills**: Whether you're working with employees, dealing with healthcare providers, or interacting with the corporate office, communication is key. A franchisee should be able to build rapport quickly and handle objections smoothly all while maintaining strong relationships with everyone they interact with. ## The Benefits of Owning a Galt Franchise **Proven Business Model**: One of the biggest advantages of buying a Galt franchise is stepping into a business model that has already been tested, unlike starting a business from scratch, you benefit from a system that has worked for others and offers guidance and support on how to achieve success. **Ongoing Training and Support**: Galt offers franchisees continued support including initial training and ongoing updates to keep the business competitive, so you are never left on your own, which provides peace of mind, as well as all the tools necessary to successfully run your franchise. From marketing to operations and ongoing business support, having corporate help is a significant advantage. **Scalability**: To achieve a high level of success in a franchise business, it has to offer easy scalability and replication of success. Once you have achieved success in one territory, increasing sales in the new territory is a matter of following the same tactics from your previous territory, as well as utilizing the sales playbook to its full advantage. ## What to Know Before Starting a Galt Franchise Owning a Galt franchise can be an incredibly rewarding experience. There are few things to know to drive your success even higher: **Time Commitment**: While a franchise system offers great support, it still requires hard work and dedication, as it is an entrepreneurial venture. Expect more autonomy, however, you will not be alone. During the first few months, you'll work with various departments to help you understand all the resources available and you can best utilize them. It's important to go into this knowing that the start can be challenging but Galt's staff are there for you along the way. **The Importance of Following the Playbook**: While entering this venture with experience in sales and the relevant industry is important, so is using the tools provided to help you succeed. Galt has created a Sales Playbook with proven methods and practices invaluable in territories where they have been implemented and adhered to. Following the Galt Playbook is key to growing your customer base and total sales. ## Final thoughts The Galt Franchise Model offers an excellent opportunity for entrepreneurs who want the benefits of owning a business without the high risk of starting from scratch in the pharmaceutical industry. With qualities such as strong leadership, good financial skills, commitment to your territory, as well as openness to using the tools available at your disposal, your chances of success are high. --- ## Quality over Quantity - Type: Blog - URL: https://galtfranchise.com/blog/quality-over-quantity/ - Published: 2024-09-18 - Author: Landry Roberts - Summary: Exploring why quality relationships with healthcare providers matter more than volume in pharmaceutical sales and how the Galt Way prioritizes meaningful partnerships. Steve Jobs once said that "quality is more important than quantity. One home run is much better than two doubles." While we aren't playing baseball or softball or selling Apple products, this couldn't be truer in the world of pharma. Particularly as it pertains to the Galt Way. We have built our sales process and playbook entirely around that idea. That less can truly lead to more if our reps effectively identify the accounts in which they invest their efforts; reliant on cultivating relationships that result in long term successful outcomes for the patient, provider, and the rep. So, what is most important play in the playbook? Finding healthcare providers that want to work with you as a rep. These are not the providers that see reps as glorified Door Dashers or endless wells of samples with no expectation that prescriptions will ever be written. No. These are the providers who embrace and understand the value our reps bring to their clinic. These are the providers that look forward to your visit each week because they know you are working hand in hand with them to help meet a patient's unmet clinical needs in ways other reps might not. They trust that we will consistently go above and beyond to give their staff and patients the best experience possible with our products and processes. These are the providers that believe in our products as much as we do and believe they are the best option for their patients. Eighties rockers Cheap Trick sang it best, "I want you, to want me!" If the above are some of the characteristics that describe a provider that wants to work with our reps, what might a provider look like that doesn't fall into that category? When I was a brand-new rep new to the pharma industry, I was guilty of making visits just to make visits. I wasn't keen on who was genuinely interested in what I was selling and who couldn't care less whether I was there or not. I felt like just getting in front of a provider and "checking that box" was going to lead to big success. A lazy approach at best. Over time, I believe all good salespeople develop a strong sense of discernment when it comes to a provider's receptivity of their messaging. A trait that is critical to the long-term success of their business. > "Quality is the best business plan." – John Lasseter I believe this to be true and the reps I work with who operate under this same premise have seen results that back it up. While we always strive to strategically seek and develop new business, the phrase that "one bird in the hand is worth two in the bush" remains a constant. Let's look at a few things I consider when deciding who is in my starting lineup, who is on the bench, and who gets cut. We'll work in reverse order. Providers who are rarely or never available to speak with you, office staff who seem agitated by your visits, the lack of ability to get past the receptionist without providing a snack or meal, or offices that don't find value in our samples and marketing pieces are all red flags for the long-term viability of the account. These accounts are unlikely to sustain and sooner than later you can cut the tension with a knife every time you enter their doors. They don't pass the vibe check. The moment you feel that tension, you know it's time to make a cut. The most difficult accounts to read as a rep are the ones who seem interested in your messaging and the product you're pitching, but never seem to "swing the bat". They say all the right things when you visit and make you "feel" wanted, but rarely act on their enthusiasm. These accounts generally don't result in good business or enough of it to justify your weekly efforts from a time and resources standpoint. Even though the visits yield good conversation and don't make you feel like a hindrance while you're there, over time, the reps who are dialed in to that discernment we discussed always discover their efforts are better focused elsewhere. > "Quality is never an accident. It is always the result of intelligent effort." – John Ruskin Then there are those accounts that every rep works hard to find. The diamonds in the rough. The needles in the haystacks. Where the providers are all-in on the product, the office staff is all in on the process, and the rep believes deep in their bones that they are truly able to make a difference with each interaction. Things seem to work in perfect harmony. These partnerships don't happen by accident, and they don't come along every day. They take research, preparation, and focused execution from the first visit. Laying the foundation for a long-lasting relationship that yields success for everyone involved. > "While the pursuit of quantity may be tempting, it often leads to short-term gains that can be detrimental in the long run. Prioritizing quality in your work, products, and interactions can have a lasting positive impact on your reputation, resources, customer satisfaction, innovation, and sustainability." – Raj Shamani Without question, the sustainability of our business will be dictated by quality not quantity. That is the Galt Way. --- ## Simplifying the Prescribing Process - Type: Blog - URL: https://galtfranchise.com/blog/simplifying-the-prescribing-process/ - Published: 2024-08-13 - Author: Jimmy Fanning - Summary: Learn how Galt Pharmaceuticals streamlines the prescribing process to minimize provider burden and maximize patient access through innovative support systems. One of the greatest challenges that pharmaceutical reps face in the field is the one that begins after a prescriber has been sold on a product. From insurance coverage to assistance programs, many manufacturers choose to cut corners on support systems and instead pass the burden of effort onto office staff. This can result in burnout for the staff and negative feedback to providers, limiting prescription volume. Galt Pharmaceuticals seeks to create a better system for prescribers and their support staff, one that minimizes effort while maximizing patient value. This process begins with the pharmacy that the provider chooses to send the prescription to and helps see that every prescription makes it into the patient's hands while avoiding added stress to office staff. ## Prescribing Galt Sales Representatives encourage providers to send prescriptions for Galt Products to a small network of partner pharmacies. These pharmacies are specially trained in patient communication and insurance processing to help each patient attain the lowest possible price for their prescription. This avoids calls back to offices regarding product availability or price that may otherwise be made by large chain pharmacies. ## Prior Authorization Galt Pharmaceuticals contracts with CloudTop Health to streamline the Prior Authorization process. Once the case is initiated by a Galt Partner Pharmacy, the provider office receives a simple, 1 page request for patient diagnosis and medical history. Each request is custom tailored to the drug under review, eliminating the ambiguity of universal forms used by most PA vendors. The provider's office needs to simply check boxes that apply to a given patient and provide one signature. CloudTop will then handle the filing of the case to insurance and the communication to the pharmacy, which would typically be the responsibility of the provider and their staff. ## Insurance Coverage Galt's goal is to maximize the number of patients who are able to receive their prescription through their insurance plan at no out-of-pocket cost to them. Although most insurers assign copays to patients, Galt Pharmaceuticals pays these down to $0 where eligible. As an added bonus to patients, if they have a deductible as part of their insurance plan, they receive credit for the money Galt spends toward this deductible on their behalf. ## Patient Assistance For patients who are uninsured or underinsured and not able to receive Galt Products through their insurance, Galt offers a special Patient Assistance Program, also called Cash Pay. This allows patients to fill their Galt prescriptions for as little as $30 with no exclusion criteria. Many pharmaceutical manufacturers will require patient enrollment into these programs as well as exclude patients who do not meet specific criteria. Galt removes these barriers in order to maximize the number of patients with affordable access to its products. All these programs come together to create a streamlined process that minimizes unnecessary effort from providers. Galt Pharmaceuticals understands that providers can be most effective when their focus and effort is dedicated to the patient's needs rather than the needs of an insurance company or pharmacy. By investing in vendors and programs that increase patient access to its products, Galt seeks to provide value in every office that it works with. --- ## Revolutionizing the Pharmaceutical Landscape - Type: Blog - URL: https://galtfranchise.com/blog/revolutionizing-the-pharmaceutical-landscape/ - Published: 2024-07-22 - Author: Kevin Vora - Summary: Discover how pharmaceutical franchise businesses are transforming the industry, empowering entrepreneurs, and democratizing access to healthcare innovation. In the ever-evolving realm of pharmaceuticals, innovation isn't just about groundbreaking drugs; its also about transforming the very business models that drive the industry forward. Enter the pioneering spirit of pharmaceutical franchise businesses, signaling a new era of entrepreneurship in a sector traditionally dominated by giants that leaves little room for aspiring entrepreneurs to carve their niche. Our franchise model democratizes the industry, providing a viable pathway for individuals with the passion and drive to make a difference in healthcare. ## What is a Pharmaceutical Franchise Business Unlike conventional pharmaceutical companies that develop, manufacture, and distribute drugs through traditional channels, a pharmaceutical franchise operates under a unique model. Through Galt Phranchise Systems, professionals and entrepreneurs can successfully participate in the business of pharmaceuticals. With a unique and innovative approach, a Galt Phranchise combines the power of proven prescription brand medications (4 currently FDA approved) and a unique franchise business model. These franchisees, typically independent pharmacy owners, pharmacists, entrepreneurs, or healthcare related professionals, market and sell Galt Pharmaceuticals products within a specified franchise territory. This approach not only leverages the brand equity and operational efficiencies of the franchisor but also empowers the local entrepreneur to tap into a proven business model. It bridges the gap between the high cost of entry business and local markets, by relying on local expertise and bringing clinically meaningful medications to where they are needed most. ## Empowering Budding Entrepreneurs For aspiring entrepreneurs in the pharmaceutical sector, this offers a compelling opportunity. It provides access to: **Established Brand Equity & Diverse Product Portfolio**: Franchisees benefit from the trust and recognition associated with our existing product line, accelerating growth and enhancing credibility in a competitive market. At Galt Pharmaceuticals, franchisees (currently) have access to 4 unique FDA approved prescription products that serve an unmet clinical need in a high-volume market. **Operational Support**: Guidance in areas such as marketing campaigns, sales strategies, regulatory compliance, and in-house built tech, such as CRM & dashboards, from the franchisor enables entrepreneurs to focus on business growth rather than navigating complex operational challenges alone. From initial training to ongoing assistance, we provide a robust framework that empowers entrepreneurs to thrive. **Customer Centric Approach**: Unlike traditional models that often prioritize profit over people, our franchise emphasizes accessibility and affordability for our patients. Our franchisees build strong relationships with local HCP office and pharmacies and make sure every patient gets the medication prescribed no matter what their insurance coverage. **Innovative Business Practice**: We integrate in-house built CRM and reporting platforms and innovative business practices to streamline operations, improve efficiencies, and enhance the customer experience. ## Why Every Aspiring Entrepreneur Should Participate **Empowerment through Ownership**: Becoming a franchisee means stepping into a role where you have control and ownership over your business. It's an opportunity to bring your entrepreneurial vision to life with the backing of a proven model. **Impact on Healthcare**: By joining this revolutionary franchise, you are contributing to a broader mission of improving healthcare access and quality. Your efforts directly impact patient lives, making your work profoundly meaningful. **Financial Potential**: Our franchise model offers significant financial rewards. With lower entry barriers and comprehensive support, franchisees can achieve substantial returns on their investment, paving the way for personal and professional growth. **Community Engagement**: As a franchisee, you are not just running a business; you are becoming a pivotal part of your community. Building local HCP relationships and contributing to community health creates a fulfilling and rewarding entrepreneurial journey. Galt Phranchise Systems is more than a business opportunity. It's the first of its kind. It's a movement towards a more inclusive, innovative, and ethical pharmaceutical industry. This disruptive concept empowers entrepreneurs, enhances patient care, and builds stronger communities. If you're passionate about making a difference in healthcare and ready to embark on a transformative entrepreneurial journey, this is the opportunity for you. Join us in revolutionizing the pharmaceutical industry and be a part of something truly groundbreaking. Embrace the future of pharmaceuticals entrepreneurship. Dare to disrupt, and let's make a difference together. --- ## The Galt Sales Process: An Inch Wide and A Mile Deep - Type: Blog - URL: https://galtfranchise.com/blog/the-galt-sales-process-inch-wide-mile-deep/ - Published: 2024-06-04 - Author: Landry Roberts - Summary: Discover how the Galt Sales Process flips the traditional pharmaceutical sales model on its head by going a mile deep and an inch wide, building meaningful relationships instead of superficial transactions. In 1889, humorist Edgar Nye coined the phrase "a mile wide and an inch deep." He was talking about a water source found in Nebraska called the Platte River. It is a shallow, wide stream with a swampy bottom. Characteristics that made it virtually impossible to ever be used as a common route for navigation. Even though the Platte River is a key tributary in the Missouri River Watershed, it was deemed useless because of its lack of depth. Nye said the Platte "had a very large circulation, but very little influence. It covers a good deal of ground, but it is not deep. In some places it is a mile wide and three-quarters of an inch deep." Thus, giving us the phrase we know today. It's not meant as a compliment. In short order, Nye's words began to be used broadly to describe people whose approach or knowledge are merely superficial. In the world of pharmaceutical sales, "a mile wide and an inch deep" has been the longstanding norm. Big pharma's strategy of calling on hundreds of clients on a monthly cadence has worked well for them alongside their gargantuan marketing budgets. This approach demands speedy visits with providers and large meal budgets for periodic breakfasts or lunches for their staff. For those of you familiar with auto racing, I call this the 'pit stop' method. Getting in and out as quickly as possible and getting right back on track. No extra time spent on the fine details. But what if there was another way? A way for sales reps to make their monthly quota calling on just a fraction of the number of clients big pharma reps do. A way for sales reps to be able to cultivate a strong working relationship with every member of each clinic they call on. From the receptionist to the housekeeper to the provider. Humans need socialization. A genuine connection instead of a business transaction.  There is a better way. The Galt Sales Process is a unique approach to pharmaceutical sales. It coaches reps to service the full office, front to back, on a weekly basis. Building relationships on a level not seen before in this industry. We believe connecting with every staff member personally and professionally yields dividends, otherwise impossible. Things like remembering birthdays, hobbies outside of work, or major life events create a level of trust and engagement that allows for a weekly connection and conversation. Not just a transaction. As a small pharmaceutical company, we must differentiate ourselves from everyone else. Asking ourselves daily, "how can I add value to every individual in every clinic I visit today?" The Galt Sales Process is built on going a mile deep and an inch wide. How could this strategy be viable in a world where big pharma dominates the landscape of marketing dollars and meal budgets? The answer in a word: relationships. We believe in a creative, collaborative working relationship with every client that breeds excitement and hope as we work together toward a common goal of meeting every patient's needs. Edward Kitsis says it this way, "when you have great working relationships with people, both collaboratively and creatively, everybody will always want to work together." When strong relationships are forged, working through obstacles and unexpected hiccups throughout the workweek becomes a pleasure and not a burden. Instilling in each staff member the belief and confidence they can trust us to do what we say will cultivate an environment that sees reps, staff, and providers working in harmony to ensure patients are always the number one priority. Mastering the art of listening, practicing empathy, expressing genuine interest, and efficiently following up on everyone's needs in a timely manner are all crucial in ensuring the long-term viability of your working relationships. We believe that it's about more than just providing great pharmaceutical alternatives for providers to add to their always changing arsenal. That's what makes us different than big pharma. That's how we add value to every clinic. The Galt Sales Process: A Better Way. --- ## Galt Expands Pain Portfolio with Tolectin DS® - Type: News - URL: https://galtfranchise.com/news/galt-pharmaceuticals-expands-pain-management-portfolio-with-tolectin-ds/ - Published: 2024-05-09 - Author: Galt Phranchise™ System - Summary: Galt Pharmaceuticals proudly announces the introduction of Tolectin DS® (Tolmetin Sodium 400mg Capsules) to its growing non-opioid pain product portfolio. Galt Pharmaceuticals proudly announces the introduction of Tolectin DS® (Tolmetin Sodium 400mg Capsules), to it's growing non-opioid pain product portfolio. **ATLANTA, GEORGIA, USA, May 9, 2024** /EINPresswire.com/ — Galt Pharmaceuticals, a pioneer in developing non-opioid pain management solutions, is proud to announce the introduction of Tolectin® DS to its product portfolio. This launch underscores the company's unwavering commitment to revitalizing safe, effective, non-controlled pain treatments that have been overshadowed by opioid therapies. Barry Patel, Pharm.D., CEO and Co-Founder of Galt, expressed enthusiasm about the addition, stating, "We are delighted to enhance our portfolio with Tolectin® DS, a product known for its distinct clinical benefits. It's crucial to revisit and promote safe, proven options for pain management that have been neglected due to the widespread marketing of opioids. Our commitment remains strong in reintroducing trusted therapies to the market." > *"It's crucial to revisit and promote safe, proven options for pain management that have been neglected due to the widespread marketing of opioids."* > **— Barry Patel, Pharm.D., CEO and Co-Founder of Galt Pharmaceuticals** Tolectin® DS is an FDA-approved Non-Steroidal Anti-Inflammatory Drug (NSAID) formulated to address pain associated with osteoarthritis, rheumatoid arthritis, and juvenile rheumatoid arthritis. Suitable for both acute flare-ups and long-term management, Tolectin® DS achieves peak plasma concentration within 30-60 minutes, offering prompt and reliable relief. Adding to the discourse, Wade Smith, Pharm.D., Chairman and Co-Founder of Galt, noted, "Following the success of our musculoskeletal pain reliever Norgesic®, Tolectin® DS will further enrich our offerings by targeting bone and joint pain, thereby providing healthcare professionals with options to manage either muscle or bone pain effectively and safely." Galt will introduce Tolectin® DS through its innovative pharma franchise model (Galt Phranchise Systems) and partnerships with Independent Community Pharmacies to enhance distribution and accessibility. Adam McCown, Pharm.D., owner of Medmetrics Pharmacy in Arizona and a Galt franchisee since 2018, remarked, "Our partnership with Galt has been instrumental in expanding our business. The addition of Tolectin® DS will further accelerate our growth while enhancing our capability to meet the evolving needs of our customers." For more information about Tolectin® DS or to schedule an interview, please contact Tucker Bedingfield at 855-965-2783 **About Galt Pharmaceuticals** Based in Atlanta, GA, Galt Pharmaceuticals is a unique pharmaceutical company that develops and commercializes prescription medications that help satisfy the unmet clinical needs of many patient types. Galt leverages business intelligence to identify, develop and bring high-value pharmaceutical products to market through distinctive approaches which include partnerships with independent community pharmacies and entrepreneurs within its franchise network. [www.galtrx.com](https://www.galtrx.com/) **About Galt Phranchise Systems** Galt Phranchise™ Systems (GPS) is the first and only franchisor to partner with a pharmaceutical company that allows an entrepreneur or business entity to market and promote pharmaceutical and health-related products in local markets. [www.galtps.com](https://www.galtps.com/) **About Tolectin® DS (Tolmetin Sodium)** Tolmetin Sodium is an FDA-approved Non-Steroidal Anti-Inflammatory Drug (NSAID) indicated to treat pain associated with osteoarthritis, rheumatoid arthritis, and juvenile rheumatoid arthritis. Tolmetin may cause an increased risk of serious cardiovascular thrombotic events, myocardial infarction, and stroke which can be fatal. Tolmetin may also cause an increased risk of serious gastrointestinal adverse events including bleeding, ulceration, and perforation of the stomach or intestines, which can be fatal. Healthcare professionals and patients should report any adverse events associated with Tolectin® to the FDA's MedWatch program at 1-800-FDA-1088 or [www.fda.gov/medwatch](https://www.fda.gov/medwatch). Tolectin® DS is a registered mark of Galt Pharmaceuticals. --- **Contact:** Tucker Bedingfield Galt Pharmaceuticals +1 855-965-2783 Visit us on social media: [LinkedIn](https://www.linkedin.com/company/galtphranchisesystem) --- ## The Exodus of Pharmacists: Why They're Leaving - Type: Blog - URL: https://galtfranchise.com/blog/exodus-of-pharmacists/ - Published: 2024-03-13 - Author: Jimmy Fanning - Summary: Exploring the growing crisis in pharmacy as pharmacists face over-saturation, long hours, decreased pay, burdensome metrics, and suppressed clinical autonomy. In recent years, the once-stable landscape of pharmacy has undergone considerable change, with an increasing number of pharmacists choosing to leave the profession. This exodus, fueled by a multitude of factors, underscores a growing crisis within the field. From over-saturation in the workforce to grueling hours, dwindling compensation, burdensome metrics imposed by employers, and a stifling of clinical autonomy, pharmacists find themselves at a crossroads, grappling with the decision to stay or depart. The pharmacy landscape has been marred by over-saturation, a result of a surge in pharmacy schools and an influx of graduates into the job market. The increase of pharmacy programs, coupled with a stagnant demand for pharmacists, has created a surplus of professionals vying for a limited number of positions. Consequently, job opportunities have become scarce, intensifying competition, and driving down wages. Graduates, burdened by staggering student debt, find themselves navigating a hostile job market with diminishing prospects, prompting many to reconsider their career path. Moreover, the demanding nature of the profession takes a toll on pharmacists, who often contend with grueling hours and demanding workloads. The traditional 9-to-5 schedule is a relic of the past, as pharmacists frequently work extended shifts, including weekends and holidays, to meet the demands of their roles. This demanding schedule not only erodes work-life balance but also contributes to burnout and fatigue, further exacerbating attrition rates within the profession. Compounding these challenges is the issue of decreased pay, which has become a bitter pill for pharmacists to swallow. Despite absorbing increasing responsibilities and shouldering the brunt of patient care, pharmacists have witnessed a steady erosion of their earning potential. Declining reimbursement rates from insurance companies, coupled with corporate cost-cutting measures, have led to stagnant wages and diminished earning prospects for pharmacists, rendering the profession less financially rewarding than in years past. Furthermore, the imposition of metrics by employers has emerged as a significant source of frustration for pharmacists. From quotas on prescription volume to adherence metrics and customer satisfaction scores, pharmacists find themselves beholden to a myriad of performance indicators that often prioritize quantity over quality of care. This relentless focus on metrics not only detracts from the pharmacist-patient relationship but also undermines professional autonomy, causing many pharmacists to feel they have been relegated to mere dispensers of medications rather than trusted healthcare providers. Perhaps most disheartening for pharmacists is the suppressing of their clinical skills, a consequence of the commodification of pharmacy practice. As pharmacy chains prioritize efficiency and profitability over patient care, pharmacists find themselves reduced to roles that emphasize dispensing medications at the expense of utilizing their clinical expertise. The erosion of clinical autonomy not only diminishes job satisfaction but also undermines the quality of care provided to patients, as pharmacists are increasingly constrained in their ability to leverage their skills to improve health outcomes. In light of these challenges, it is unsurprising that an increasing number of community pharmacists are choosing to leave the profession. For many, the allure of a stable career in pharmacy has been tarnished by a reality marked by over-saturation, long hours, decreased pay, burdensome metrics, and a curbing of clinical autonomy. Faced with dwindling prospects and diminishing returns, many pharmacists find themselves struggling with the decision to persevere or pursue alternative career paths. To address this exodus of pharmacists from the profession, stakeholders must confront the systemic issues that have precipitated this crisis. From reforming pharmacy education to aligning workforce supply with demand, bolstering compensation and benefits, fostering a culture of work-life balance, and empowering pharmacists to practice at the top of their license, concerted efforts are needed to revitalize the pharmacy profession and ensure its sustainability for future generations. Galt Phranchise Systems offers a unique opportunity for pharmacists to utilize entrepreneurial skills while using knowledge gained in the pharmacy field, both clinical and operational. Galt Phranchisees have the exclusive rights to market Galt Pharmaceuticals products to local prescribers, with the opportunity to drive prescriptions toward local independent pharmacies or Galt's national network of pharmacies. Phranchisees can help educate prescribers on products that address unmet clinical needs in the marketplace while contributing to the growth and development of independent pharmacies rather than large chains. Galt Phranchise systems allows pharmacists an exit from the pharmaceutical industry while allowing them to stay inside the greater healthcare industry. To learn more about our one-of-a-kind franchise opportunity, email us at Franchise@galtfranchise.com. Follow us on LinkedIn at Galt Phranchise Systems LLC and Galt Pharmaceuticals --- ## Breaking the Mold in Pharmaceutical Sales - Type: Blog - URL: https://galtfranchise.com/blog/breaking-the-mold/ - Published: 2023-11-06 - Author: Kevin Vora - Summary: Discover how the pharmaceutical franchise model is transforming the industry by empowering sales representatives to become entrepreneurs with autonomy, unlimited income potential, and local market expertise. Traditionally, pharmaceutical sales representatives have operated within a well-established framework. They've played a crucial role in educating, promoting, and selling pharmaceutical products to healthcare professionals. While this role has its merits, it has also been limiting in terms of individual autonomy, income potential, and the ability to build something of their own. ## The Paradigm Shift: Pharmaceutical Franchising Enter the pharmaceutical franchise model – a disruptor that empowers sales representatives to take control of their careers and financial destinies. This innovative approach allows them to become franchisees, essentially running their own pharmaceutical business under the umbrella of an established and rapidly growing pharmaceutical brand. Here's how it's going to reshape the industry: ### Entrepreneurial Autonomy As pharmaceutical franchisee, sales representatives gain the autonomy to make key business decisions. They can tailor their strategies to their local market, decide on marketing initiatives, and manage their individual teams. This newfound independence will foster a sense of ownership and accountability rarely experienced in the traditional sales role. ### Income Potential The potential for financial growth is limitless (TRULY) in the pharmaceutical franchise model. Rather than earning a fixed salary or commission, franchisees have the opportunity to earn revenues directly tied to their hard work and the success of their business. This model allows sales representatives to reap the rewards of their hard work and dedication. ### Local Market Expertise Traditional pharmaceutical companies have always mandated a specific set of actions from their sales representatives. Sales reps need to make a specific number of calls, see a specific number of healthcare professionals, and spend a specific amount of time talking about each of the multiple products they carry in their bags. As a pharmaceutical franchisee, sales professionals are intimately familiar with their local markets and healthcare professionals and are uniquely positioned to cater to the specific needs of their local territory. No one size fits all. They can build strong relationships with their communities, resulting in increased trust and credibility. No more big-brother standing over your shoulder telling you to make 8 – 10 calls a day. ### Established Brand Support One of the primary benefits of the pharmaceutical franchise model is that it provides sales representatives with the backing of an established brand. This support includes access to a proven product portfolio, marketing resources, sales playbook, creative training, and ongoing support from a dedicated and professional team. Franchisees can leverage the reputation associated with the brand to build their successful business. Products that have been well established in the market for years come with a higher level of trust that turns into successful business. ### Nurturing Entrepreneurial Spirit This innovative approach nurtures the entrepreneurial spirit that often lies dormant in pharmaceutical sales representatives. Pharmaceutical franchising will encourage them to think creatively, take calculated risks, and continuously seek opportunities for growth. ## The Road Ahead: A Bright Future for Pharmaceutical Sales Representatives This first-of-a-kind pharmaceutical franchise opportunity is poised to transform the industry by unlocking entrepreneurial possibilities that never existed before. Sales representatives can now chart their own course, shape their futures, and build businesses that reflect their aspirations. This paradigm shift not only benefits the individuals but also contributes to a more dynamic and innovative pharmaceutical landscape. The traditional mold of pharmaceutical sales is breaking, giving rise to a new era of entrepreneurial possibilities. With the pharmaceutical franchise model, sales representatives can seize control of their career, embrace their entrepreneurial spirit, and become pioneers in an evolving industry. The future is bright, and it's filled with opportunities waiting to be explored by those ready to embark on this exciting journey of Pharmaceutical Franchise (Phranchise). To learn more about our one-of-a-kind franchise opportunity, email us at Franchise@galtfranchise.com. Follow us on LinkedIn at Galt Phranchise System LLC and Galt Pharmaceuticals --- ## Big Pharma TV Ads and Independent Pharmacies - Type: Blog - URL: https://galtfranchise.com/blog/big-pharma-tv-advertising/ - Published: 2023-10-24 - Author: Wade Smith - Summary: Exploring how Big Pharma's TV advertising impacts independent pharmacies through a cybernetic lens, and how pharmacists can leverage relationships to maintain relevance in an evolving healthcare system. ## ABSTRACT TV advertisements for specialty pharmaceuticals by Big Pharma increase prescription volume through patient advocacy directly with their physician. Because of increased reimbursement and margins dispensing specialty drugs, PBMs (Pharmacy Benefit Managers) have aggressively moved to shunt scripts from local independents to their own in-house dispensing. Thus, local independents are less likely to dispense specialty products advertised on television. Local independents are left with dispensing low-margin generic products causing an increase in store revenue to be tied to increasing script volume. This model yields diminishing returns, and when viewed cybernetically, a relationship remains between the patient and the pharmacy. This relationship provides a construct for the independent pharmacy to maintain its relevance while leveraging strategic growth tactics. The happenings in life and machines may be described in circular patterns: We sleep, we wake, we work, we eat, then we sleep again….a circular pattern. These (circular) patterns may be studied as "systems theory". That these circular patterns, or systems, are further impacted by feedback within themselves is the science of "cybernetics". **Figure 1**  We were taught in pharmacy school about feedback mechanisms in physiological systems, and how they may be impaired by disease or improved by health. We spent much longer studying body systems in school than the larger health systems that would build our careers. The health care system I was introduced to while a pharmacy student was simple: the patient saw a physician, the physician treated with a prescription, the prescription was filled by the pharmacist, the pharmacist dispensed medication to the patient. **Figure 2**  The speed of innovation has been breathtaking over the past forty years. Discovery and technology evolved health systems through additional contributors, mechanisms, and processes. Understanding systems not only illustrates "what" is occurring at any point in time in an environment but may also indicate possibilities of change at other point(s) within the system itself. If one part of the system changes…. then the whole system changes; For Example using Figure 1, having a big lunch might negate the desire for dinner, or an afternoon nap may delay evening sleep. What about the larger systems at work within the business of independent pharmacy? How may the entry of new participants change old systems to new and can new entries threaten seemingly non-related participants existing in the old? To answer, cybernetic science proves helpful. Assume the question: What impact, if any, does the proliferation of TV advertising by Big Pharma have on the local Independent Pharmacy? Let us consider two issues: 1) TV advertising of specialty drugs by Big Pharma, and 2) Business of Independent Pharmacy. These two issues are seemingly different and completely unrelated. However, they do share commonalities: prescription drugs, patients, and a payer (often a PBM). Let's look at them as a system. Big Pharma spent nearly $7 billion each of the past two years marketing directly to consumers. These ads cast a wide net targeting an audience from few to many. Examples include diseases that are less common (e.g. myasthenia gravis, carcinomas), difficult to discuss (e.g. Pyrones, Crohn's), or more common (e.g. arthritis, diabetes). As Big Pharma gained experience with consumer advertising, marketing expenditures shifted to support its growth. Why? Because TV commercials worked – and they still do. Investments made in TV advertising produce a satisfactory return – or else they would not run. To generate the return, the products advertised are often high-cost specialty drugs. TV ads marketing specific generic drugs would yield negative returns – which is why they are not seen. Qualitative research of physicians' perspectives of TV advertising identifies a consistent concern when patients ask for a drug product they saw advertised. The concern is not if it is the right drug, the right patient, or the right time. The concern is if they as the physician do not prescribe the drug, they will lose the patient to another physician who will prescribe the drug for them. As Big Pharma embraced mass advertising and the use of specialty pharmaceuticals increased, PBMs aggressively moved specialty dispensing in-house rather than to pay local network pharmacies to do so. This diverted the higher margin specialty products to the PBM while leaving the lower margin generic products to their pharmacy network, including many Independent Pharmacies. Because they dispensed the products, PBMs were able to bill their clients directly, advancing any pricing spread themselves. **Figure 3**  The cascade of events within the healthcare system grows with each new entry. Surprisingly, the addition of direct-to-consumer advertising does not "grow" the business as one may think. Its effect on physicians, pharmacy and patients is substantial – and previous contributions offered by local network pharmacies are diminished. Figure 3 illustrates this, even suggesting the local pharmacist is not needed. However, a significant cybernetic relationship is discovered: Patient feedback mechanisms with their local pharmacist (Figure 4). Note the TV commercial's impact shifts the system's efficiency from clinical to logistical. Even though a network-independent pharmacy may not dispense (nor receive any revenue) from a specialty product initiated by a TV advertisement, they no doubt still field patient questions regarding the drug. A patient cannot get immediate consultation from a TV commercial or even from the Big Pharma manufacturer. Yet, the local pharmacist remains…even though they were denied the opportunity to fill the profitable prescriptions (Figure 3). The question then to ponder is, "Is the pharmacy trading their experience with the patient, knowledge of the drug, and consultation time for…. patient gratitude". While gratitude is a worthwhile cause, it is not revenue. **Figure 4**  Do TV commercials impact a complete healthcare system? Absolutely yes, but independent pharmacists are sacrificed. The more removed independent pharmacists become from prescribers or patients, the less value they have to offer. However, if they are a part of the system, they still may find value through cybernetic tactics. Synchronicity for pharmacists can only occur if we learn to seize a place for ourselves within a system attempting to squeeze us out. Independents must actively seek new strategies to grow their businesses. Should they fill specialty prescriptions? Sure, if they could. However, much of that business is already gone. Should they just do more of what they've been doing…simply fill more prescriptions? Nope, that is a race to nowhere. But what if they looked at their business differently – bringing more purpose to patient counseling and meaningful clinical engagement with physicians? This leverages the cybernetic relationship established from the basic health system: patient–physician–pharmacist. No one is closer to drug dispensing and the patient than the independent pharmacist – whether they see it as a strategy to leverage is theirs to decide. Follow us on LinkedIn at Galt Phranchise System LLC and Galt Pharmaceuticals --- ## Entrepreneurism in Healthcare: A Vital Prescription - Type: Blog - URL: https://galtfranchise.com/blog/entrepreneurism-in-healthcare/ - Published: 2023-09-13 - Author: Barry Patel - Summary: Exploring how entrepreneurism can transform healthcare through innovation, agility, and patient-centric approaches to address systemic challenges. Our current healthcare system faces a myriad of challenges. From accessibility and affordability issues to outdated practices and the bureaucratic tangle, the existing system often seems more part of the problem than the solution. Herein lies the need for entrepreneurism – the infusion of innovation, agility, and a results-driven approach to disrupt the status quo and provide the transformation healthcare desperately needs. **1. Fresh Perspectives Lead to Innovative Solutions:** Entrepreneurs, by nature, think outside the box. They are solution oriented and not constrained by traditional healthcare paradigms. This fresh perspective can introduce innovative solutions, be it through technological advances or novel patient care delivery models, that can vastly improve service delivery and outcomes. **2. Agility Over Bureaucracy:** One of the main criticisms of the current healthcare system is its bureaucratic lethargy. Entrepreneurs thrive on agility. They quickly adapt, pivot, and respond to market needs, making them ideally suited to tackle the ever-evolving challenges in healthcare. **3. Patient-Centric Approaches:** In the race to treat disease and manage health crises, the individual patient's needs sometimes get overshadowed. Entrepreneurs can bring a renewed focus on patient-centric care models, leveraging technology and data to provide more personalized, efficient, and holistic care. **4. Reducing Costs and Increasing Accessibility:** Innovative solutions, particularly those leveraging efficiency, can drastically reduce healthcare delivery costs. Virtual consultations and technology-based health management can democratize healthcare access, ensuring it reaches the underserved and remote populations. **5. Collaboration and Interdisciplinary Synergies:** Entrepreneurs often operate at the intersection of various fields, leading to interdisciplinary collaborations. For instance, a collaboration between tech start-ups and biotech firms can lead to breakthroughs in personalized medicine or wearable health tech. **6. Resilience in the Face of Failure:** The entrepreneurial journey is replete with failures. However, it's this resilience and ability to learn from failures that can fast-track the evolution of effective healthcare solutions. Successful entrepreneurs ARE resilient and will find a way to learn from failure and be successful. As the world grapples with rising healthcare challenges, from an aging population and chronic diseases to pandemics and escalating costs, the need for rapid, innovative, and effective solutions has never been more urgent. Entrepreneurism, with its emphasis on innovation, agility, and results, provides the much-needed tonic to rejuvenate and revolutionize the healthcare system for the betterment of all. Follow us at [Galt Phranchise Systems LLC](https://www.linkedin.com/company/galtphranchisesystem)! --- ## Sure Med Compliance Partners with Galt Phranchise - Type: News - URL: https://galtfranchise.com/news/sure-med-compliance-announces-partnership-with-galt-phranchise-system/ - Published: 2023-06-03 - Author: Galt Phranchise™ System - Summary: Sure Med Compliance partners with Galt Phranchise System to improve patient and provider outcomes in pain management through innovative technology and non-opioid therapeutics. **MOBILE, Ala., June 3, 2023** /PRNewswire/ — Sure Med Compliance, a digital healthcare company focused on curbing the opioid-related overdose epidemic announces a partnership with Galt Phranchise™ System (GPS), the first and only franchisor that enables an entrepreneur or business entity to market and promote pharmaceutical and health-related products in their local markets. Both organizations have an aligned mission in supporting healthcare providers in the fight against the opioid epidemic through safer prescribing practices. Sure Med Compliance seeks to improve patient and provider outcomes in pain management settings through Perspectives in Care℠ (PIC), it's scientifically validated electronic patient-reported outcome (ePRO platform), while GPS partner, Galt Pharmaceuticals, is the manufacturer of a non-opioid combination prescription product for acute mild-moderate pain, that is a vital therapeutic option for healthcare providers. Founded in 2016, Sure Med Compliance's technology combines an electronic patient-reported outcome (ePRO) platform that has been shown to improve outcomes for patients and providers in pain management settings, with a private marketplace that supports the commercialization of pain management therapeutics through delivering point-of-care advertising and real-world data. This partnership will benefit both organizations by creating a new distribution channel for the PIC program through Galt Franchisees, while using the PIC platform to create provider awareness around alternative non-controlled pain therapies. Speaking on the partnership, John Bowman, CEO of Sure Med Compliance, said, "Strategies aimed at solving the current overdose epidemic must go beyond the identification of risk. To be effective, solutions must include making patients and providers aware of products that have the potential to decrease their reliance on non-novel opioid therapies. Our partnership with Galt Phranchise™ System aligns with our commitment to only partner with mission-based organizations that have the potential to improve outcomes in pain management settings." Barry Patel, Galt CEO and Co-Founder, was quoted as saying "We are excited about our partnership with Sure Med Compliance because their state-of-the art reporting platform can identify patients at risk for opioid abuse, and we have a non-opioid pain medication that can help these patients. Through our partnership with Sure Med, Galt franchisees can build valuable relationships with pain management prescribers within their territories to educate them and support better outcomes for their patients." **About Sure Med Compliance** Based in Mobile Alabama, Sure Med Compliance is a healthcare technology company dedicated to creating safer exposures to controlled substances. Their novel digital health platform, Perspectives in Care℠ has been shown in two clinical trials to improve provider and patient outcomes in pain management settings. They are currently offering a lifetime membership to Perspectives in Care℠, completely free, to the first 250 clinics to sign up. **About Galt Phranchise™ System** Based in Atlanta, GA, Galt Phranchise™ System (GPS) is the first and only franchisor to partner with a pharmaceutical company to create a unique franchise concept that allows an entrepreneur or business entity to market and promote pharmaceutical and health-related products in their local markets. With Galt Pharmaceuticals ([www.galtrx.com](https://www.galtrx.com/)) managing the high-barrier industry functions, Galt Phranchise™ System has worked hard in building the foundation and business systems that allow Phranchise Owners to focus on operating their truly patient-centric, local businesses. With over 500 territories available across the nation, GPS seeks entrepreneurial minded sales or healthcare professionals looking to disrupt the big pharma model by de-centralizing pharmaceutical sales and distribution. [www.galtps.com](https://www.galtps.com/) --- ## What I learned from Ted Lasso! - Type: Blog - URL: https://galtfranchise.com/blog/what-i-learned-from-ted-lasso/ - Published: 2023-05-31 - Author: Kevin Vora - Summary: Valuable lessons on leadership, teamwork, emotional intelligence, and personal growth from the popular Apple TV show Ted Lasso. So I am sure everyone knows Ted Lasso. A very popular Apple TV show that seems to be more than just a TV show, as it teaches a lot of valuable lessons on various aspects of our personal and professional lives. Here is what I have learned from the show: **Authentic Leadership:** Ted leads with authenticity, always displaying his true self and his values. Ted encourages everyone around him to do the same by creating a positive, welcoming and safe environment to express their thoughts and opinions. **Building a Strong Team:** As the saying goes "Teamwork makes the Dreamwork", Ted believes in the power of teamwork and instills the significance of developing a strong, cohesive and supportive team. Ted values everyone's thoughts, their strengths and weaknesses and builds a culture of true collaboration by developing trust among every team member. This helps us understand why teams are important and how a strong team can lead to huge success. **Emotional Intelligence:** I believe emotional intelligence was truly on display with Ted Lasso. Ted highlighted the importance of it by understanding everyone's emotions and empathizing with them, even when it would hurt him (You know when Rebecca told him the true reason she hired him and Ted said "I forgive you"). That teaches us how we can resolve conflicts with understanding each other and with compassion. Ted took the time to listen, reflect and understand which helped him to build strong relationships in a very new and hostile (somewhat) environment. **Positivity and Kindness:** At the core of the show is Ted Lasso's contagious positivity and kindness. Ted's untiring attitude and desire towards resolving every situation with a smile on his face and a true desire to elevate everyone around him even during difficult times, surely will teach you the power of staying positive and kind towards everyone. **Grit:** Talk about facing the biggest challenge in your life. Ted goes to a foreign country to teach a sport he has no idea about, with every fan and people within his club hating him from day 1. What does Ted do? Ted maintains his grit with a positive attitude towards succeeding and winning every single one of them by embracing each obstacle and opportunity and not letting failure distract him from the goal. As Pep Guardiola (Head Coach – Man City) said to Ted when he defeated the reigning champions "Don't worry about wins or losses, just help your team become the best version of themselves on and off the field". (Of course that's Ted's line). **Personal Growth:** With every single one of the characters in the show, through the 3rd season, you will see whether it is Ted Lasso, Kent, Jamie, Nathan, Rebecca or Keeley every one of these characters showed personal growth. Whether it was letting go of your ego (Jamie), moving on from your past (Rebecca), opening up to people (Kent) or realizing and admitting what you lost (Nathan), it teaches us that personal growth is an unending process which we should all embrace to evolve as individuals. So approach life with positivity and kindness, don't be afraid to show your true values, your authentic self because at the end of the day there is only one YOU. So I will end the article with just one word, because at the end that's the beginning of everything – **BELIEVE!** --- ## PBM Challenges and Struggles Faced by Pharmacists - Type: Blog - URL: https://galtfranchise.com/blog/challenges-with-pharmacy-benefits-managers/ - Published: 2023-05-24 - Author: Kevin Vora - Summary: Exploring the challenges pharmacists face when dealing with Pharmacy Benefits Managers (PBMs) and the impact on patient care, reimbursement, and pharmacy operations. In the complex landscape of healthcare, Pharmacy Benefits Managers (PBMs) play a significant role in managing prescription drugs benefits for health insurance plans and employers. While PBMs may aim to streamline the process and control cost, usually the impact faced by other stakeholders (Patients, Pharmacists, Doctors and Pharma companies) is quite the opposite. One such stakeholder that faces the biggest challenge is the Pharmacist as PBMs hinder their ability to provide optimal patient care. I list below a few things I have learned after being in the industry for 10+ years and want to shed some light on the challenges faced by Pharmacist in today's healthcare system. **Lack of Transparency:** Pricing model, rebate arrangements, formulary decisions, prior authorization and DIR fees are some of the areas where pharmacists have limited information and even the Doctors have limited understanding which increases the challenge to deliver quality healthcare to their patients. **Reimbursement Issues:** Many Independent Pharmacists we work with, often complain about lack of appropriate reimbursement for their services as these are highly influenced by the PBMs. These PBMs often decide the reimbursement amount, which seldom covers the cost of the medication and the quality services provided by the Pharmacist and their staff. As these negative reimbursements burns a hole in the pharmacists financial operation, it often compromises their ability to run the pharmacy, provide high level quality services to patients and impacts pharmacy operations. This is where and why many entrepreneurial minded pharmacists seek other opportunities to diversify their revenue stream. **Administrative Burden:** Prior Authorizations, Step edits, DIR fees, claims processing and other administrative traps setup by PBMs often take valuable time away from Pharmacists, which could be better spent on providing quality patient care. This time-consuming and often dead-ended administrative processes leads to high burnout among pharmacists and negatively impacts their career advancement and job satisfaction, leading to many pharmacist looking for a career change. **Restricted Network:** PBMs dictate which pharmacy a patient can choose and thereby limiting access for better quality care. This negatively impacts patients in rural or underserved areas who rely on their local community pharmacy for continuum of care. **Outcomes & Compliance:** Priority is placed on cost savings and not quality patient care. Formulary restrictions, prior-authorizations and delayed responses usually lead to lack of access to necessary and Doctor prescribed medications, which results in to non-adherence, non-compliance and poor healthcare outcomes. Patients don't interact with PBMs, so who gets to address these challenges with the patients? You guessed it, Pharmacists! Pharmacists are front-line HCPs who lead in addressing these challenges with patients and making sure patients receive the appropriate care even if that means dispensing prescriptions with low reimbursement and losing money. **Reform and Advocacy:** Pharmacist across the US are looking for reforms in addressing all the above challenges presented by PBMs. Patient first policy, adequate reimbursement and higher level of transparency will lead to better health outcomes for patients. Meaningful change needs to occur to ensure long-term survival of our community pharmacies and independent pharmacists across the US. PBMs play a vital role in the pharmaceutical access landscape and need to work collaboratively with every stakeholder to ensure best possible outcome for patients and pharmacists. In spite of all the above issues our Independent pharmacists face, they work long-hours, they are on the frontline during the difficult times (Pandemic) delivering care and vaccines, and are just seeking that patients remain front and center when making healthcare decisions. So by addressing the above challenges with PBMs and working collaboratively with Pharmacists, we can make sure the medication experts can work to provide optimal care for our most important stakeholder – Patients! --- ## An abnormal pharmacist - Type: Blog - URL: https://galtfranchise.com/blog/an-abnormal-pharmacist/ - Published: 2023-02-27 - Author: Wade Smith - Summary: Embracing abnormality in pharmacy practice and entrepreneurship to create meaningful change in an industry dominated by diminishing returns and inefficient systems. **abnormal** ab·nor·mal (ab-ˈnȯr-məl) *adjective* : deviating from the normal or average a person with abnormal [=exceptional] strength abnormal powers of concentration abnormal behavior abnormal test results --- Normal is not great, nor is it even good at times. Normal is descriptive of "the usual" and usual may be defined as that which occurs regularly. If regular occurrence is routine, then routine is the same as average. Thus, normal is average. Normal is not above average, nor is it below average; it is simply average. I seek abnormality. Entrepreneurial efforts are engaged by people of all kinds. Most start endeavors to create positive change for themselves or others. However, those with normal effort simply create a job for themselves. They accept traditional processes as normal without knowing why. They have no idea why the usual approach came to be, they simply continue it. Oh no, I certainly don't want to be normal. I seek to create value by identifying and implementing greater efficiencies in the marketplace. If I simply replicated normal in the market I've chosen to compete, then I'd also merely be creating a job for myself. This is the path of most aspiring business titans as they repeat the things which have always been done. The classic rock band Steely Dan was onto something with their now famous line "the things that pass for knowledge I can't understand" (Reeling in the Years; Fagan, Becker). If I can understand occurring conditions and how they developed into normally accepted models, then I may better facilitate effective change. Bill Bowerman wasn't normal. If he were, he would have used his waffle iron to make breakfast. However, he considered the form of rubber when molded by the iron as an inverted waffle. He believed the new form would create less surface area than traditionally normal soles. And in running, less surface area meant less time spent with the shoe touching the tract. As a result, Bowerman's University of Oregon track team ran faster and won more track meets. The abnormal waffle soles also disrupted an entire industry by launching a shoe company we recognize today by a simple "swoosh". Sir James Black wasn't normal. If he were, he would have been a chemist simply distilling hydrocarbons for testing on human disease. However, he approached drug discovery significantly different from normal. Instead of finding the disease a discovered chemical could impact, he worked "backwards" by selecting disease and then creating a compound for affect. As a result, Black changed the drug discovery process – and remains the only individual in history to invent not one, but two pharmacological drug classes; the first beta-blocker (propranolol) to treat hypertension and the first H-2 antagonist (cimetidine) to treat peptic ulcer disease. These abnormal results allowed millions of people to return towards health – as well as a knighthood and a Nobel Prize for Black. Continuing business processes which repeat negative results is analogous to addiction. Addicts normally use their substance of choice to escape uncomfortableness. And community pharmacists often continue normal processes to escape the uncomfortableness of abnormality. While treatment strategies may be similar for any addiction, the tactics often vary. If processes can be used to change the course of addiction – then they may also be applied to change other inefficiencies for example, in business. Clinical algorithms which provide pathways to treat addiction are well known and define steps to recovery. However, what options remain if those steps are continually repeated and found lacking? Only two…to try harder (e.g. filling more prescriptions/day), or to change approaches (e.g. filling the right prescriptions/day). Better outcomes are not achieved through normal; better outcomes are achieved with what often may be considered abnormal. Attempting to create a pharmaceutical company was my initiation into entrepreneurialism. After a progressively successful career in the industry, my thought was, "How difficult could it be?" I was a seasoned professional and knew the industry playbook inside out – heck, I even wrote a couple pages myself. Sticking to the comforts of my experiences became my addiction. An addiction to normal which became more entrenched even as I watched my first entrepreneurial ship go down. It took a few times, but learning to embrace the abnormal finally enabled me to experience entrepreneurial success. What kept me from changing course? Why do people knowingly maintain declining prospects? Are we simply blind to alternative options? Understanding these questions provide the path to changing normal. Just because something has always been done according to "standard operating procedures", does not mean it is the most efficient process. To say the practice of pharmacy has changed in the 30 years of my career is an understatement. However, independent pharmacy remains a staple of continuity in the community. Will this last? Today's normal is a payor system seemingly rigged against the entrepreneurial minded pharmacists which practice independently. This is not sustainable. We are told the lower dispensing fees, clawbacks and DIR expenses forced upon us create more efficient pharmaceutical care. More efficient for whom? The irony of a "middle-man" reaping financial windfalls at the expense of those actually delivering care (i.e., community pharmacists) is seemingly lost on those actually paying for the care (i.e., business/government). Irony is lost when it becomes normal. Thus, the only way for independents to survive requires the abnormal. Galt Pharmaceuticals is built for the abnormal. Let us work together in assuring tomorrow on our terms rather than the diminishing returns offered by PBM's as normalcy. --- ## The big oafs…. - Type: Blog - URL: https://galtfranchise.com/blog/the-big-oafs/ - Published: 2023-02-14 - Author: Wade Smith - Summary: How independent pharmacists can outmaneuver PBMs by evolving from service providers to market managers, just like Captain America outsmarted the bigger soldiers. My favorite scene in the Marvel movie, Captain America, is little Steve Rogers out-thinking the big oafs in his platoon. While on a long run, in full gear, the platoon comes to a flag atop a tall silver pole. The platoon Sargent challenges the platoon to retrieve the flag and awarding the one who does so with a ride back to camp in a jeep. The oafs are not able to gain a grip when attacking the pole with their sweaty hands and fail to reach the flag. Rogers, arriving to the pole after the oafs admit defeat, briefly studied the pole and surprises everyone by simply removing the pin holding it upright…and thus capturing the flag when the pole simply fell to the ground. Little guys have to outmaneuver, to do something different, when big oafs attempt to control a situation. In a world where PBMs are big oafs, is there room for us little guys, the community pharmacist? PBM revenue streams have multiplied since their inception as they identified opportunities. Initially providing benefit and utilization models for their customers, they generated income through manufacturer rebates exchanged for formulary positioning under the auspices of off-setting costs. As a new business model with low barrier to entry, additional start-ups created significant competition among PBMs that soon led to bleeding rebates as customer savvy increased. With increased competition chasing the same customers, the PBM business model became endangered as only a service provider of formulary designs. Community pharmacy seems to be stuck as a service provider. Pharmacists should consider the lessons provided by example of PBMs made aggressive leaps from service provider to marketplace manager. A provider receives set payments…a manager determines the payments. PBMs grew by identifying additional revenue streams where they uniquely influenced activities within a market. While their reliance on manufacturer rebates decreased, they began leveraging their pharmacy contracts to profit through payment spreads (what they owed the retail pharmacy vs. what they billed their own customer), administration fees (both sides, from the customer as well as their network), claims processing and DIR remuneration fees when claim data did not readily meet expectations. Additionally, PBMs transferred negative positioning with specialty and mail-order pharmacies into advantage by acquiring their own specialty and mail-order pharmacies. Perhaps the most astonishing source of new revenue was "clawbacks", where PBMs took back part of previously completed payments to pharmacies when contracted costs were discovered less than payment copayments. The point is PBMs evolved from service provider to market manager. Yet, community pharmacists often maintain their focus on providing the service of filling prescriptions. If the pharmacy margin per script decreases because of PBMs, the impulsive response of many to maintain the store's gross margin is to fill more scripts. Enterprising independents have attempted to break this response by offering new products and services to reduce reliance on prescription counts. Examples include vaccines, group purchasing options, disease specific marketing, CBD, MTM and specialty dispensing. However, even these tactics are susceptible to being niched as providing service and will eventually yield diminishing returns. We would challenge community pharmacists to become market managers by leveraging their single greatest attribute: patient engagement. The long-standing trust customers place in their pharmacist is evident each time they return to the store. Is this post yet another imploration of patient counseling? No, at least not as it is taught in today's pharmacy schools. Pharmacists largely lost the argument of being paid to counsel. The battle began over forty years ago – and – was lost soon afterwards by not monetizing the value of doing so. I remember sitting through numerous CE events in the 1980's preparing to submit counseling claims via HCFA 1500 forms – only leading to chronically stained fingertips from carbon slips! Today's PBM machinations continue to restrict independent pharmacy's ability to profit. If profit is to be had, they seem to think, then it should belong to them. Hogwash. Learning to manage a market is challenging, but it will be impossible if we continue to respond robotically to evolving PBM tactics. We asked earlier if there was room for us little guys, the independent pharmacist. Yes, there is. We started Galt Pharmaceuticals specifically to serve patients through independent pharmacies. We want to help others evolve from service provider to market manager; to create margins fifty times the insignificant dispensing fees tossed to us as scraps. Is this possible? Yes, we see it every day working with partners to outmaneuver the big oafs. Let's talk. --- ## Galt Aims to Disrupt Status Quo with 4-Day Workweek - Type: News - URL: https://galtfranchise.com/news/galt-aims-to-disrupt-status-quo-with-4-day-workweek/ - Published: 2021-09-06 - Author: Galt Phranchise™ System - Summary: Galt Pharmaceuticals implements a 4-day, 36-hour workweek, demonstrating commitment to employee satisfaction and innovative workplace policies. Galt Pharmaceuticals is just a little bit different. With a centralized business model aimed at disrupting the status quo of big pharma, the company recently implemented a 4-day, 36-hour workweek that tilts at a disruption happening across the North American workforce. The Marietta, GA-based outfit, whose trademarks include products for pain, insomnia and oral thrush, takes its name and inspiration from the protagonist, John Galt, in the novel Atlas Shrugged by Ayn Rand. Galt is of the philosophy that an individual with a strong will and work ethic can break down manmade barriers and achieve anything he or she desires, and Galt Pharmaceuticals believes the same. The company's new flexible workplace policy is a testament to its employees' drive and dedication, which shone through when the COVID-19 pandemic set in. "Our business really continued without fail," said Tracey Define, Galt's vice president corporate systems. "It was a very easy decision to make because we really learned from the pandemic that our staff is committed, and if we do need them to go an extra mile, it's never a question." The leadership came to the decision after reflecting on the lessons offered by the pandemic, along with research showing an increase in productivity and creativity brought about by the 4-day workweek model. Define summed up these takeaways. "A shorter workweek allows people to really focus on creativity because it's in the breaks when creativity happens," she said. "It's not when you're toiling at your desk, focusing on numbers or e-mails. It's when you have an actual break to just relax and let your mind be open." The three-day weekend is a central part of the strategy. "There's actual science behind why you feel more relaxed after three days. It takes that amount of time to really decompress and let go of the stress, so that you have the energy and excitement to get back at things on Monday," Define explained. Thinking outside of the box is the norm for Galt, which was founded with the mission of finding a better way to do things. Its business model is based on disrupting the inefficient models and bureaucracies of "big pharma" through a franchising model. The company consists of local business owners it calls "Phranchisees" who run Phranchises™ in 55 territories across the U.S. committed to healthcare provider engagement and product representation. These entrepreneurs employ their own sales and marketing associates, further decentralizing the operation. Co-founders Wade Smith and Barry Patel, both pharmacists with extensive knowledge of the pharmaceutical industry, were motivated to launch this model to fix the inefficiencies they experienced first-hand. Patel, who serves as Galt's chief executive officer, explained how the benefits get passed down to the patient. "The disruption piece is really allowing for the businesses in the pharmaceutical sector to be run in the way that they need to be, in the specific markets that they are in," he said. "They can be much more efficient because they can react to the needs of their individual healthcare community." While in the typical big pharma model, patient assistance and access questions are channeled through a large corporate office, Patel explained that Galt's model allows for more patient-centricity. "We can address those down on the ground, because you've got owners that have good relationships with their local pharmacists and the prescribers," he said. This allows Galt to ensure the patient receives the best product at the lowest possible cost, even in the absence of insurance. In the same vein, the company places a priority on working with independent pharmacies. "They are a lot more patient responsive than chain pharmacies and some of these other places that are driven to be more number oriented, so we're able to get to the root of any issues that patients may be having about a product a lot quicker," Patel said. Territory owners and sales partners in each territory are also given flexibility in terms of time management. Define explained that this enables better patient support. "They make decisions about where and how they spend their time, which allows for the creation of deeper relationships with the healthcare providers that they see and work with every day," she said. Patel stated that Galt's product strategy follows this same patient-centric philosophy. "As pharmacists, we have sort of nostalgia about products that worked in the past, but then ended up on the shelf or just taken off the market because [companies] didn't want to continue the marketing fees and so forth. So we look at which markets are still not satisfied from an unmet need perspective," he said. This is how Galt decided on the insomnia space, which experiences a significant amount of churn, and the pain market where Patel said there is a concentration of opioid drugs. Galt's Norgesic Forte® is a non-opioid, non-controlled medicine intended to help relieve acute musculoskeletal pain. "There's nothing else out there right now being marketed in that category, and opioids were over-marketed for years and years," he said. "So, we're bringing something older to the market, but with a fresh look." So far, Patel said that Galt's latest foray into model disruption is eliminating even more inefficiencies. "What I've seen in these few short weeks is that people are more efficient in how they get their work done during those four days, because they know there's no time for idle meetings or things that might not make sense," he shared. In the current employment climate of "The Great Resignation", Define advises any company with the capacity to try the 4-day week to give it a shot. "Employee satisfaction really should be number one on every employer's to-do list, because I know for our small company, we couldn't afford to lose one person," she said. --- ## Galt Pharmaceuticals Acquires Oravig® from Fortovia - Type: News - URL: https://galtfranchise.com/news/galt-pharmaceuticals-acquires-oravig-from-fortovia-therapeutics/ - Published: 2020-12-16 - Author: Galt Phranchise™ System - Summary: Galt Pharmaceuticals announces the acquisition of Oravig®, the first and only orally-dissolving buccal tablet for oral thrush, from Fortovia Therapeutics. **ATLANTA**–(BUSINESS WIRE)–Galt Pharmaceuticals announced the acquisition of a specialty branded product from Fortovia Therapeutics. Effective December 2, 2020, Galt added Oravig®, the first and only orally-dissolving buccal tablet for oral thrush, to its growing portfolio of pharmaceutical assets. "We are thrilled to add a branded product with distinctive clinical benefits to our growing product portfolio," stated Barry Patel, CEO and co-founder of Galt. "We are committed to offering unique products that support unmet clinical needs to improve patients' quality of life." Oral thrush is an infection of the mouth caused by the Candida fungus, also known as yeast. The condition can affect people of all ages including older adults and those with weakened immune systems. The deal represents a large market opportunity for the Atlanta-based pharmaceutical company. Of the approximately 28 million total prescriptions currently written, filled and dispensed for oral thrush annually in the U.S., more than 22 million are filled for oncology and primary care patients, according to IQVIA Health. Wade Smith, PharmD, chair and co-founder of Galt added, "Oravig® is a specialty product that fits nicely in our phranchise distribution model. It is the third product in our portfolio in as many years. We look forward to supplying Oravig® to our phranchisees – just as we have Doral® and Orphengesic Forte – both of which achieved record sales in 2020." Galt will launch Oravig® in Q1 2021 through its unique phranchise sales and distribution model that leverages collaboration with independent pharmacies. Visit [www.Oravig.com](https://www.oravig.com/) for important safety information and full prescribing information. **About Galt Pharmaceuticals** Galt Pharmaceuticals has found a better way to enhance the quality of life of patients with products that answer unmet clinical needs, while creating life-changing opportunities for entrepreneurs, our employees and the individuals within the communities we serve. Galt is the first and only company to create a unique pharmaceutical franchise or "Phranchise" concept that moves product representation away from corporate headquarters into local communities. Phranchises provide education to local healthcare providers while Galt manages functions such as drug research, regulatory approval, compliance and supply chain. Learn more at [www.GaltRX.com](https://www.galtrx.com/). **About Oravig®** Oravig® is the first and only muco-adhesive buccal tablet formulation of miconazole approved to treat oropharyngeal candidiasis (OPC), also known as oral thrush, in adult patients in the United States. Do not use Oravig® if there is a known or suspected hypersensitivity to any of its ingredients. Allergic reactions, including anaphylactic reactions and hypersensitivity, have been reported with the administration of miconazole products, including Oravig®. Discontinue Oravig® immediately at the first sign of hypersensitivity. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit [www.fda.gov/medwatch](https://www.fda.gov/medwatch) or call 1-800-FDA-1088. Please see Important Safety Information and Full Prescribing Information for more details. --- **Contact:** Christy Rosell 404.409.7759 christy@clearwingcommunications.com --- ## FDA Approves Opioid-Free Pain Med Orphengesic Forte - Type: News - URL: https://galtfranchise.com/news/opioid-free-pain-med-orphengesic-forte-approved-by-fda/ - Published: 2020-01-16 - Author: Galt Phranchise™ System - Summary: Galt Pharmaceuticals receives FDA approval for Orphengesic Forte, a non-opioid, non-controlled alternative for pain management. ATLANTA–(BUSINESS WIRE)–Pharmaceutical innovator Galt Pharmaceuticals announced a new drug approval to offer a non-opioid, non-controlled, non-addictive alternative for healthcare providers to manage patients suffering from pain. On July 8, 2020 the U.S. Food and Drug Administration approved the company's Supplemental Abbreviated New Drug Application for Orphengesic Forte, over two months ahead of the scheduled goal date. "This is a big win in the fight against the U.S. opioid epidemic and the FDA's swift early action confirms the seriousness of the issue," said CEO and co-founder Barry Patel, Pharm.D. "Orphengesic Forte is a proven safer pain management alternative healthcare providers can consider before prescribing an opioid." Orphengesic Forte is indicated for the relief of mild to moderate pain of acute musculoskeletal disorders, paired with rest, physical therapy and other measures. "The medical community is in great need of alternative therapeutic options to treat pain and Orphengesic Forte helps to meet that need because pain is very personal," said Tapan Daftari, M.D., an orthopedic surgeon with Resurgens Orthopedics. The Centers for Disease Control & Prevention reports 20% of U.S. adults are affected by chronic pain – one of the most common reasons adults seek medical care. "Management of pain in the United States is a significant issue impacting quality of life for millions of adults," said Galt Chairman and Co-Founder Wade Smith, Pharm.D. "Patients deserve more options from the best health care system in the world and that's why we're committed to expanding our portfolio with more pain medications in coming years." **About Galt Pharmaceuticals** Galt Pharmaceuticals has found a better way to enhance the quality of life of patients with products that answer unmet clinical needs, while creating life-changing opportunities for entrepreneurs, our employees and the individuals within the communities we serve. Galt is the first and only pharmaceutical company to create a unique pharmaceutical franchise or "Phranchise" concept that moves product representation away from corporate headquarters into local communities. Phranchises provide education to local healthcare providers while Galt manages functions such as drug research, regulatory approval, compliance and supply chain. Learn more at [www.GaltRX.com](https://www.galtrx.com/). **About Orphengesic Forte** **INDICATIONS AND USAGE** Orphengesic Forte (Orphenadrine Citrate, Aspirin and Caffeine 50 mg/ 770 mg/60 mg) Tablets are indicated in: 1. Symptomatic relief of mild to moderate pain of acute musculoskeletal disorders. 2. The orphenadrine component is indicated as an adjunct to rest, physical therapy, and other measures for the relief of discomfort associated with acute painful musculoskeletal conditions. The mode of action of orphenadrine has not been clearly identified, but may be related to its analgesic properties. Orphengesic Forte Tablets do not directly relax tense muscles in man. **IMPORTANT SAFETY INFORMATION (ISI)** **Contraindications** Orphengesic Forte is contraindicated in patients with glaucoma, pyloric or duodenal obstruction, achalasia, prostatic hypertrophy, obstructions at the bladder neck, myasthenia gravis, hypersensitivity to the drug, and known sensitivities to aspirin or caffeine. **Warnings and Precautions** - Orphengesic Forte is not recommended in patients with chicken pox, influenza, or flu symptoms due to the possible development of Reye's Syndrome. Reye's Syndrome is possibly associated with the use of aspirin. - Patients should be cautioned on possible impairment of the ability to engage in potentially hazardous activities such as operating machinery or driving a motor vehicle. - Aspirin should be used with extreme caution in the presence of peptic ulcers and coagulation. - Safety of use of Orphengesic Forte in pregnancy, during lactation, or in the child-bearing age has not been established; the potential benefits should be weighed against the possible hazard to mother and child. - The safe and effective use in children has not been established; Usage in children under 12 is not recommended. - Confusion, anxiety, and tremors have been reported with concomitant propoxyphene and orphenadrine. - Safety of continuous long term therapy with Orphengesic Forte has not been established; If prescribed for prolonged use, periodic monitoring of blood, urine, and liver function values is recommended. **Adverse Reactions** The side effects of Orphengesic Forte are those seen with aspirin and caffeine or those usually associated with mild anti-cholinergic agents. These may include tachycardia, palpitation, urinary hesitancy or retention, dry mouth, blurred vision, dilation of the pupil, increased intraocular tension, weakness, nausea, vomiting, headache, dizziness, constipation, and drowsiness. For more safety information and the complete list of adverse reactions, please see the Full Prescribing Information for Orphengesic Forte. --- **Contacts** Christy Rosell, 404.409.7759 christy@clearwingcommunications.com --- ## Innovative Pharma Company, Galt Signs 50th Franchise - Type: News - URL: https://galtfranchise.com/news/galt-signs-50th-franchise/ - Published: 2019-02-14 - Author: Galt Phranchise™ System - Summary: Galt Pharmaceuticals signs its 50th franchise territory, breaking barriers to pharma industry ownership through unique phranchising model. **ATLANTA** — The first and only pharmaceutical company to create a unique franchise pharma concept referred to as "phranchising," Galt Pharmaceuticals recently signed its 50th territory. "Our unique model offers the right entrepreneur the opportunity to run their own pharmaceutical company in their local market using a very patient-centric approach to educating healthcare providers," said Galt CEO and co-founder Barry Patel, Pharm.D. Validating this transformative model, Atlanta-based Galt brought on its 50th territory just 8 months after beginning to sell Galt Phranchises last April. Independent pharmacist and entrepreneur Alex Brumfield acquired the 49th and 50th territories in San Antonio, Texas. "Although I've owned and operated independent pharmacies in Louisiana and Texas, the Galt Phranchise opportunity allows me to leverage my clinical and business skills, as well as my medical network contacts, to build a whole different type of business," said Brumfield, who acquired 2 territories. Each Galt Phranchise owner has exclusive rights to represent Galt Pharmaceuticals products after receiving training and certification to promote in their local communities in accordance with FDA-approved labeling. "The traditional pharmaceutical industry model is built to prevent competition and truly needs transformation through the entrepreneurial spirit," said Galt Chairman and co-founder Wade Smith. "We believe that pharmaceutical education is best delivered through a local business owner rather than top-heavy pharma companies." Galt's founders say their goal is to help fill unmet clinical needs with FDA-approved pharmaceuticals. Galt's current lead product is Doral® (Quazepam) and will launch a non-controlled pain drug later this year. Doral® has FDA indications for the treatment of insomnia for patients having difficulty falling asleep, difficulty maintaining sleep and early morning awakenings. Entrepreneurs who would like to learn more about owning a piece of their own local pharmaceutical company can visit [www.GaltRX.com](https://www.galtrx.com/) or email phranchise@GaltRX.com. **About Galt Pharmaceuticals** Galt Pharmaceuticals enhances quality of life of patients with products that answer unmet clinical needs, while creating life-changing opportunities for entrepreneurs, our employees and the individuals within the communities we serve. Galt moves product representation away from corporate headquarters and into local communities. Phranchisees provide education to local healthcare providers about high-value medications and share a percentage of sales. Galt owns the pharmaceutical assets and manages functions such as drug research, regulatory approval, compliance and supply chain. **About Doral® (Quazepam)** Visit [www.DoralRx.com](https://www.doralrx.com/) for more details and full prescribing information.