Travere Therapeutics, Inc.

Travere Therapeutics, Inc., a San Diego-based for-profit biopharmaceutical manufacturer, supplies rare-disease pharmaceuticals to the Department of Veterans Affairs as a prime contractor on full-and-open federal supply schedule and blanket purchase agreements, with no subcontract footprint. The company holds two major indefinite delivery vehicles with the VA: a $14.97 million Federal Supply Schedule contract (FSS-61-IB) for Pharmaceuticals and Drugs awarded September 15, 2021, expiring September 14, 2026, and a single-award $25 million Blanket Purchase Agreement for Thiola (tiopronin) and Cholbam (chenodeoxycholic acid) under the same schedule, also expiring September 14, 2026. Travere operates under NAICS 325412 (Pharmaceutical Preparation Manufacturing) and PSC codes for drugs and biologicals; the company is not designated as a small business, 8(a), HUBZone, SDVOSB, WOSB, or other SBA set-aside category and competes on unrestricted, full-and-open procurement vehicles.

Travere's federal portfolio centers on delivery orders and purchase orders from multiple Veterans Integrated Service Networks for four core products: Thiola 100 mg and Thiola Tiopronin for cystinuria and kidney disorders; Filspari 200 mg and Filspari 400 mg for glomerulonephritis and kidney conditions; Cholbam (chenodeoxycholic acid) for primary bile acid synthesis disorders and cholestatic liver disease; and Chenodal (chenodiol) for gallstone prevention. Representative work includes a $131,523.01 firm fixed-price delivery order from Veterans Integrated Service Network 22 in February 2026 for emergency Thiola 100 mg tablets, a $236,500 purchase order from VISN 10 in October 2023 for Chenodal 250 mg pharmaceutical supply, and recurring monthly delivery orders from VISN 5 ranging from approximately $11,000 to $31,000 for Thiola and Filspari products.

Customer concentration is heavily concentrated in the VA system, with 89% of awards across five distinct customer nodes. Veterans Integrated Service Network 5 leads by award count with 45 delivery orders totaling $1.1 million combined potential value; the Department of Veterans Affairs National Acquisition Center anchors potential-value concentration with 4 awards carrying $50.2 million combined value (the two parent IDVs); VISN 12 places 10 awards worth $25.6 million; and VISN 10 holds 10 awards worth $1.7 million. All awards are issued without set-aside designations. The VA National Acquisition Center's 4 awards represent the $14.97 million FSS contract and the $25 million BPA, both of which authorize delivery orders across subordinate VISNs.

Travere places all work under the GSA Pharmaceuticals and Drugs Federal Supply Schedule (FSS-61-IB), with 82 task orders generating $52.2 million in combined potential value. The FSS vehicle and companion BPA establish pre-negotiated pricing that enables the Veterans Health Administration to issue firm fixed-price delivery orders across multiple integrated service networks without competitive resolicitation.

Award activity shows modest growth from 2022 to 2024 (9 awards to 17 awards) followed by significant decline in 2025 and 2026 (5 and 6 awards respectively), reflecting the consolidation of individual delivery orders into the standing FSS and BPA master vehicles. Combined potential value across the portfolio reaches $79.2 million, but obligated dollars total $3.4 million (4% of potential), indicating that most value sits in the ceilings of the two open IDVs rather than finalized delivery order performance. One award with ultimate completion in the next twenty-four months carries potential value of $132 thousand; however, the two master IDVs themselves expire September 14, 2026, triggering recompete exposure on both the FSS and BPA vehicles in the fourteen-month window from the current date (July 15, 2026).

Travere maintains supplementary places of performance in Foster City, California; Monroeville, Pennsylvania; and Bartlett, Tennessee, in addition to its primary San Diego headquarters. The company operates as a prime contractor exclusively, with no identified subcontracting relationships across the federal award footprint. Travere's federal posture is narrowly anchored to VA pharmaceutical procurement under full-and-open competition, with customer, product, and vehicle concentration presenting both stability (long-standing FSS and BPA relationships dating to September 2021) and recompete risk concentrated in a single September 2026 event.