SAN DIEGO, Dec. 9, 2013 /PRNewswire/ -- Imprimis Pharmaceuticals, Inc. (Nasdaq: IMMY), a pharmaceutical company focused on commercial development of novel drug formulations and drug delivery technologies announced their intention today to pursue a compounding pharmacy strategy in 2014 and beyond.
The recently passed Drug Quality and Security Act allows large drug-compounding facilities, which mix ingredients to make a custom blend of medicine, to register as "outsourcing facilities." Imprimis continues to track recent guidance from the FDA on the newly passed law and expects to participate in the discussion related to final rules for the implementation of the law and hopes to eventually establish and voluntarily register its outsourcing facilities and be subject to these requirements and regular FDA inspection.
"We believe that bipartisan passage of this law sends a clear signal that our leaders in Washington recognize the broad benefits of compounding pharmacies and the important role they play in the evolving healthcare delivery landscape and we applaud their creation of a regulatory framework to oversee the compounding industry, which we believe is favorable to our business strategy," said Mark L. Baum, Chief Executive Officer of Imprimis.
"Establishing centers of pharmacy excellence that use the highest standards to make and then efficiently distribute our growing portfolio of proprietary compounded drug formulations will advance Imprimis' business strategy of taking small ideas from the clinical interaction between pharmacists, physicians and their patients and turning them into big ideas for physicians across America to prescribe as a compounded drug for their patients. We believe that this idea in practice will reduce healthcare costs and provide Americans access to previously unavailable medicines and that our unique business of repurposing the more than 7,500 FDA-approved generic drugs for new uses will help us transform and advance personalized medicine while delivering near-term and affordable medical solutions."