SAN DIEGO, Nov. 10, 2016 /PRNewswire/ -- Imprimis
Pharmaceuticals, Inc. (NASDAQ: IMMY), a pharmaceutical company
focused on the production and dispensing of high quality innovative
compounded medications, today announced it has entered into a
product purchase and supply agreement with the specialty pharmacy
division of one of the nation's largest pharmacy benefit managers
(PBMs) to supply Imprimis' complete formulary of low-cost
compounded medications through the PBM's national network of
specialty pharmacies. Under the agreement:
- The Imprimis Cares® formulary will be made available through
the specialty pharmacy division of the PBM, which includes more
than 65 million covered lives.
- Imprimis will supply all formulations included under its
Imprimis Cares® formulary including the patent-pending tiopronin
delayed-release formulations, a lower cost alternative to Thiola®;
pyrimethamine and leucovorin formulations, an alternative to
Daraprim®; the company's proprietary Dropless Therapy® injectable
and LessDrops® topical formulations; as well as additional
compounded drug formulations for patient populations that may not
have available alternatives to increasingly expensive branded
medications and lacking meaningful generic competition.
- Prescription orders will flow through Imprimis' MaxRx
Prescriber Portal™, allowing for customer ordering and tracking
ease.
- Both parties shall ensure that patients continue to receive
expert personalized support needed to manage their specific
conditions.
Mark L. Baum, CEO of Imprimis,
stated, "Healthcare payors in the U.S. and their patients are
concerned about the rising costs of prescription drugs. This
agreement represents a new approach to more efficiently deliver
medications from the manufacturer directly to the consumer, thereby
eliminating several layers of inefficiencies for the tens of
millions of Americans whose prescription drug benefits are managed
by this renowned PBM. We believe this new model is going to
drive down costs significantly for our partner's insurance company
customers, and that other payors we are working with will see this
as a viable approach to lower costs while providing patients with
safe, high quality, innovative solutions."
"We expect our state-of-the-art New
Jersey facility, which we recently registered with the U.S.
Food and Drug Administration (FDA) as a 503B outsourcing facility,
will play an important role as we begin to dispense our Imprimis
Cares formulary under this new relationship. We also look
forward to expanding into new markets in which our partners seek
solutions," Mr. Baum concluded.
Imprimis' Commitment to High Quality Affordable
Medications
Imprimis is committed to the company's vision of providing
patients with affordable access to the medications they need.
The company intends to continue to expand its Imprimis
Cares formulary and introduce additional drug formulations for
patient populations that may not have available alternatives to
increasingly expensive branded medications. Imprimis is
dedicated to providing high quality compounded medications made
from FDA-approved ingredients produced at FDA-inspected and
PCAB-accredited facilities. Federal and state oversight is a
part of every aspect of the Imprimis drug supply chain from raw
material acquisition to production, testing and dispensing.
For additional information, please visit
http://www.imprimisrx.com/why-imprimisrx/quality/.
About Imprimis Pharmaceuticals
Imprimis Pharmaceuticals, Inc. (NASDAQ: IMMY) is a
pharmaceutical company dedicated to producing and dispensing high
quality innovative compounded medications in all 50 states.
The company's unique business model drives patient access and
affordability to many critical medicines. Headquartered in
San Diego, California, Imprimis
owns and operates three dispensing facilities located in
California, New Jersey and Pennsylvania. For more information about
Imprimis, please visit the corporate website at
www.ImprimisRx.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Any statements in this release that are not historical facts
may be considered such "forward looking statements."
Forward-looking statements are based on management's current
expectations and are subject to risks and uncertainties which may
cause results to differ materially and adversely from the
statements contained herein. Some of the potential risks and
uncertainties that could cause actual results to differ from those
predicted include our ability to make commercially available our
compounded formulations and technologies in a timely manner or at
all; physician interest in prescribing our formulations; risks
related to our compounding pharmacy operations; our ability to
enter into other strategic alliances, including arrangements with
pharmacies, physicians and healthcare organizations for the
development and distribution of our formulations; our ability to
obtain intellectual property protection for our assets; our ability
to accurately estimate our expenses and cash burn, and raise
additional funds when necessary; risks related to research and
development activities; the projected size of the potential market
for our technologies and formulations; unexpected new data, safety
and technical issues; regulatory and market developments impacting
compounding pharmacies, outsourcing facilities and the
pharmaceutical industry; competition; and market conditions. These
and additional risks and uncertainties are more fully described in
Imprimis' filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K and its Quarterly Reports
on Form 10-Q. Such documents may be read free of charge on the
SEC's web site at www.sec.gov. Undue reliance should not be placed
on forward looking statements, which speak only as of the date they
are made. Except as required by law, Imprimis undertakes no
obligation to update any forward looking statements to reflect new
information, events or circumstances after the date they are made,
or to reflect the occurrence of unanticipated events.
Other than drugs compounded at a registered outsourcing
facility, all Imprimis compounded formulations may only be
prescribed pursuant to a physician prescription for an individually
identified patient consistent with federal and state laws.
Imprimis Media Contact
Paul
Rabin
paul@pascalecommunications.com
516.503.0271
Imprimis Investor Contact
Bonnie Ortega
bortega@imprimispharma.com
858.704.4587
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SOURCE Imprimis Pharmaceuticals, Inc.