In the world of pharmaceuticals, companies are always trying to expand and further develop new products by obtaining exclusive rights to the patent. Imprimis Pharmaceuticals, Inc. (IMMY) a pharmaceutical company that is dedicating their efforts on the creation and commercialization of proprietary compounded drug developments, announced Tuesday that they now have the exclusive US commercial rights to the patented compounded alkalinized lidocaine and heparin for the treatment of interstitial cystitis, also more commonly known as painful bladder syndrome.
Imprimis was able to obtain the non exclusive US licensing rights for Hep-Lido-A from Urigen Pharmaceuticals, Inc in October of last year. Imprimis with their license agreement had the choice to change to an exclusive license during the six month and one year anniversary period from the time of the agreement. “We are pleased to now have the exclusive US commercial rights for our patented Hep-Lido-A formulation. In 2014, physicians wrote more than 80,000 prescriptions of Hep-Lido-A, generating an estimated $5.5 million in sales. In due course, we plan to capture substantially all of these legacy prescriptions, and have already begun sales to existing prescribers for their chronic care patients. Our focus going forward is to continue to serve the existing Hep-Lido-A prescribers and patients, and importantly to share their experiences with new prescribers and their patients in order to significantly grow this business. We have a positive and uplifting message we intend to share with new patients who are suffering with IC,” said Mark L. Baum, CEO of Imprimis.
Mr. Baum added his input, “Over the last several months, we have been busy building relationships with IC thought leaders and new physician customers. We are recruiting a team of seasoned urology sales and marketing professionals with experience and relationships in the IC community to lead our commercial activities. Our team is witnessing firsthand how Hep-Lido-A is benefiting patients and we are inspired and passionate about helping the millions of patients suffering with this debilitating chronic condition. We have partnered with leading IC advocacy organizations and our Defeat ICTM education campaign is gaining traction within the IC patient and physician communities. It is a very exciting time for our company and we look forward to exhibiting at the American Urological Association annual meeting next month in New Orleans and visiting with members of the urology community.”