ACTON, Mass., Oct. 27, 2023 (GLOBE NEWSWIRE) -- In an era marked by relentless change and the pressing need to adapt, Psychemedics, a pioneer in the drug screening industry, proudly announces the launch of a revolutionary, Advanced 5-Panel Drug Screen. This groundbreaking offering will transform the way organizations safeguard their workplaces, shifting the spotlight from marijuana to the paramount threat of fentanyl. Complemented by the detection of cocaine, opioids, PCP, and amphetamines, the advanced panel is a leap forward in drug screening technology.
As we grapple with an ongoing labor shortage and with marijuana’s legal landscape evolving in 49 states, it’s clear that the time for a change has come. Traditional 5-panel drug tests, rooted in a four-decade-old paradigm, have failed to evolve in today’s drug market and are unable to detect the rising drug, fentanyl.
“Few challenges in the workplace have undergone as dramatic a transformation as the shifting dynamics between marijuana and fentanyl,” remarked Brian Hullinger, President and CEO at Psychemedics. “Recognizing this shift, Psychemedics has developed the Advanced 5-Panel to bridge the gap.”
For decades, Psychemedics has remained at the forefront of innovation, responding to the ever-evolving needs of our clients. The Advanced 5-Panel Drug Screen epitomizes this legacy, offering clients a cost-effective choice to adapt their testing protocols in sync with evolving priorities and employment policies. More importantly, it ensures that resources and dollars are invested in identifying the threats that matter most to organizations today.
The impact of this offering is not merely theoretical; it is supported by a recent independent study encompassing nearly 1 million drug tests. The findings demonstrate that hair testing outperforms traditional methods in detecting the most abused substances, such as opioids, cocaine, and amphetamines:
- 25 times more effective at detecting opioids.
- 23 times more accurate in identifying cocaine use.
- 13 times more adept at pinpointing amphetamine use.
The Advanced 5-Panel Drug Screen is crafted to focus exclusively on these critical threats, ensuring the highest level of security for organizations.
For more information about Psychemedics Corporation and its innovative hair testing solutions, please visit https://www.psychemedics.com.
About Psychemedics
Psychemedics Corporation is a leading global provider of innovative hair testing for drugs of abuse. With a commitment to accuracy and reliability, the company offers cutting-edge drug testing solutions. Psychemedics Corporation is dedicated to providing valuable insights and maintaining the highest standards in substance abuse testing.
Cautionary Statement for purposes of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995:
From time to time, information provided by Psychemedics may contain forward-looking information that involves risks and uncertainties. In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning earnings, earnings per share, revenues, cash flows, receivables collection dates, dividends, future business, growth opportunities, new or revised product offerings (including the Company’s Advanced 5-panel drug screen) profitability, pricing, new accounts, customer base, market share, test volume, sales and marketing strategies, market demand for drug testing services, and new test development, may be “forward-looking” statements. Actual results may differ from those stated in any forward-looking statements. Factors that may cause such differences include but are not limited to, changes in U.S. and foreign government regulations, including but not limited to FDA regulations, currency risks, R&D spending, competition (including, without limitation, competition from other companies pursuing the same growth opportunities), the Company’s ability to maintain its reputation and brand image, the ability of the Company to achieve its business plans, cost controls, leveraging of its global operating platform, risks of information technology system failures and data security breaches, the uncertain global economy, the Company’s ability to attract, develop and retain executives and other qualified employees and independent contractors, including distributors, the Company’s ability to obtain and protect intellectual property rights, litigation risks, general economic conditions and other factors disclosed in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only of the Company's expectations as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions, or circumstances on which any such statement is based.
Investor Relations:
Phone: 978-206-8220
Email: InvestorRelations@psychemedics.com
