(Swedesboro, New Jersey—October 15, 2015) Wedgewood Pharmacy, one of the largest compounding pharmacies in the U.S., received the annual Award for Excellence from the New Jersey Business & Industry Association (NJBIA) at a ceremony yesterday at The Pines Manor in Edison (NJ). The award was given for Business Success to honor the company’s contribution to the state’s economic growth through the expansion of its business.
Each year, the NJBIA honors a select group of employers from among its 20,000 members for their outstanding achievements in four categories: Business Success, for exceptional business growth; Environmental Quality, for protection of the environment; Outstanding Employer, for outstanding workforce management practices; and Community Service, for dedicated community service.
All NJBIA members are eligible to be nominated for this annual award. The winners are selected by an independent panel of judges who volunteer their time to select the winners. This year’s judging panel included NJBIA Committee and Board members as well as representatives from SCORE – Counselors to America’s Small Business. The Mercaidan Group of CPAs verified the information supplied by the winning applicants.
The Wedgwood Pharmacy entry focused on the company’s initiative to embrace new technology and process improvements to keep pace with a rapidly increasing prescription demand, a key factor in the company’s 44% growth in the number of employees from 2012 to 2015.
Lucy Malmberg, R.Ph., F.A.C.A., F.A.C.V.P. , chief executive officer, said: “Although we are a relatively small company, our ability to deploy significant technology improvements and process improvements using best-in-class change-management principles is crucial. We believe these skill sets enable us to compete and grow in a dynamic industry and are useful tools in optimizing our ability to serve the needs of patients and prescribers.”
Wedgewood Pharmacy is one of the largest compounding pharmacies in the United States and the largest U.S. animal-health compounding pharmacy. It makes customized medications for people and their pets when FDA–manufactured drugs cannot meet their needs. Compounded medications are prescriptions and medication orders that are written by physicians, veterinarians and other legally authorized prescribers and prepared by specially trained pharmacists and pharmacy technicians. The company employs 266 people and is headquartered in Swedesboro, Gloucester County, where it maintains a 40,000 square-foot prescription and order intake department, a state-of-the-art laboratory and a pharmacy dispensary. More than 30,000 prescribers and hundreds of thousands of patients in the United States turn to Wedgewood Pharmacy for quality, value, choice and service. Its motto is: We Care The Way You Care®.
Malmberg added, “Our primary goal is to serve our patients. We recognized that with our growth we had to develop processes that assured high quality and prompt delivery to our customers. We’re grateful that NJBIA has acknowledged our pharmacy and our dedicated people.”
About Wedgewood Pharmacy
George (late) and Lucy Malmberg, both pharmacists, purchased Wedgewood Pharmacy in 1981; the pharmacy was founded in 1980. In its 35-year history, the company has grown from a local community pharmacy to become one of the largest compounding pharmacies in the United States, serving tens of thousands of prescribers throughout the U.S. with customized animal-health and human-health prescriptions every year. A compounding pharmacy creates customized medications in response to a licensed practitioner’s prescription. The company is located in Swedesboro, NJ and licensed throughout the United States.
Wedgewood Pharmacy is a PCAB®-Accredited compounding pharmacy, demonstrating that it meets the highest standards of quality and safety. Wedgewood Pharmacy was the first pharmacy in the Philadelphia area to earn this accreditation. PCAB was established in 2007 by eight of the nation’s leading pharmacy organizations to create a voluntary quality-accreditation designation for the compounding industry. Wedgewood Pharmacy was re-accredited in January 2015.