Imprimis Pharmaceuticals

Imprimis Pharmaceuticals
Public
Traded as NASDAQ: IMMY
Industry Pharmaceutical Industry
Headquarters San Diego, California, United States
Number of locations
 3 facilities (2016)
Key people
Products compounded medicines

Imprimis Pharmaceuticals is a publicly traded pharmaceutical company (NASDAQ: IMMY) based in San Diego.

Business

Imprimis makes eye drops, compounded medicines and other products; it has sought to create competition for generic drugs that companies have monopolies on through regulatory or other means by marketing new formulations as a compounding pharmacy,[1] a strategy that it hoped to use to avoid getting FDA approval for the drugs it markets.[2]

The company manufactures a pyrimethamine and leucovorin formulation which it argues may offer a low-cost "alternative" to Daraprim, a medication which gained public attention after its price in the United States was increased by over 5,000 percent by Martin Shkreli and Turing Pharmaceuticals.[3][4]

In 2016 it introduced a lower cost version of tiopronin, and was said to have been working on a version of Mylan's EpiPen.[1]

As of 2015, Imprimis has been led by chief executive officer Mark L. Baum, a lawyer by training.[4] Baum has been working in the HIV-related pharmacy field since 1999.[4] In October 2015, Anthony Principi was elected to the company's board of directors.[5][6]

As of 2016 Imprimis operated three facilities, located in California, New Jersey and Pennsylvania, and had a license to operate through state pharmacy boards in all 50 of the United States.[4] The company's facility in Texas shuttered in 2016 following enhancement of their site in New Jersey.[1]

In December 2017 the company received a letter from FDA notifying it that the FDA considered the marketing of some of the company's formulations to be illegal.[7]

References

  1. 1 2 3 Elvidge, Suzanne (29 September 2016). "Imprimis shuts down Texas plant, axes 8% of jobs". BioPharma Dive.
  2. ↑ "Imprimis Pharmaceuticals pushes the definition of pharmaceutical manufacturing". Pharmaceutical Commerce. 25 March 2016.
  3. ↑ Bomey, Nathan (23 October 2015). "Drug company attempts $1 alternative to Daraprim". USA TODAY. Retrieved 4 January 2016.
  4. 1 2 3 4 Kroll, David (23 October 2015). "Imprimis' Fight Against Martin Shkreli Is Part Of A Larger Battle". Forbes. Forbes Publishing Group.
  5. ↑ Raymond, Nate (16 January 2018). "Imprimis receives FDA warning over eye medication advertising". Reuters.
  6. ↑ Staff (1 October 2015). "People". Genetic Engineering & Biotechnology News (Paper). 35 (17). p. 49. Imprimis Pharmaceuticals elected Anthony J. Principi to its board of directors
  7. ↑ "2017 - Imprimis Pharmaceuticals Letter". FDA. December 21, 2017.
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