Omeros’ Omidria Revenues Drop 86 Percent in Q1-2018; Company Attributes Decline to Temporary Loss of Pass-through Status

May 11, 2018: By Jon Swedien

Revenues from Omidria dropped to $1.6 million in Q1-2018 from $12.3 million in Q1-2017, an 86 percent decline, Seattle-based Omeros reported May 10.

The decrease is the result of the scheduled expiration of Omidria’s pass-through reimbursement status on Jan. 1, 2018, Omeros said.

Omeros announced in April that Omidria received a two-year extension on pass-through status through the US omnibus bill signed into law March 23. Pass-through status restarts Oct. 1, 2018.

Surgeons use Omidria (phenylephrine and ketorolac injection) during cataract surgery for maintaining pupil size by preventing miosis and for reducing postoperative ocular pain.

In 2014, Omidria gained US FDA approval and pass-through status for three years. The latter allowed the Centers for Medicare and Medicaid Services (CMS) to reimburse ASCs $465 per single-use-patient vial above the cataract surgery facility fee of about $1 thousand. When pass-through status expired, the CMS rolled the cost of Omidria into the cataract facility fee.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

Carl Zeiss Meditec Announces Milestone of 1.5 Million SMILE Procedures

Heidelberg Gains US Clearance for OCT Angiography Module

ASCRS Convenes Task Force to Study CyPass Data, Make Recommendations

Bascom Palmer Treats First US Patient in Nightstar’s Trial for X-Linked Retinitis Pigmentosa

First Patient Treated in Allotex’ Trial for Allogenic Refractive Lenticules for Presbyopia

Bausch + Lomb Announces Positive Results for Loteprednol Etabonate Gel

LumiThera Set to Launch Valeda Light Delivery System for Dry AMD

Kodiak Sciences Names Jason Ehrlich, MD, PhD, Chief Medical Officer

Second Sight Receives $1.6 Million Grant from NIH to Support Orion Program

Regeneron to Invest $800 Million in New York Campus

American Women Raise Funds for Nepal Mission to Reduce Corneal Blindness

Ziemer to Add Lenticule Extraction Capabilities to LDV Z8

Stealth BioTherapeutics Raises $100 Million in Support of Elamipretide for Dry AMD

STAAR Gains US Approval of Visian Toric ICL

Sun Pharma, SPARC Announce FDA Approval for Xelpros for Open-Angle Glaucoma, Ocular Hypertension

FDA Will Review Regeneron’s Submission to Expand Eylea’s Labeling to All DR Patients

Alcon Will Locate Headquarters in Switzerland

Kodiak Sciences Files for $100 Million IPO

Iridex Announces $10 Million Public Offering

Oxford BioMedica Expands Capacity with New Facility