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

China’s Innovent Plans $500 Million IPO on Hong Kong Exchange

FDA Accepts Bausch + Lomb’s NDA Filing for Loteprednol Etabonate Ophthalmic Gel

Allergan Launches Refresh Repair Lubricant Eye Drops

US Federal Trade Commission Approves Takeda’s Bid for Shire

Nikon to Acquire Ophthalmic Distributor Chuo Sangio to Merge with Optos Subsidiary

Wills Eye Hospital to Use $5 Million Gift to Support Expansion

Pixium Vision’s PRIMA Implanted in Five Patients with Atrophic Dry AMD

Iuvo BioScience Acquires Oculos Clinical Research

Alcon Will Be Worth $20 Billion to $30 Billion After Spinoff, Novartis Chairman Says

Katena Acquires Blink Medical, Adding to String of Recent Purchases

Opthea’s Phase IIb Trial for Wet AMD Candidate Reaches Midway Point for Enrollment

Ocugen Starts Phase III Trial of OCU300 for Ocular Graft Versus Host Disease

Oculocare Medical Receives US FDA 510(k) Approval for ALLEYE, an Amsler Grid App

Santen Ventures Invests $1 Million in Qura’s QSmart System

Elsalys Biotech Says New Studies Confirm Anti-CD160 Potential in Ophthalmology

Eyedaptic Presents Augmented Reality Glasses for AMD at OCTANe Summit

Quantel Medical Launches Vitra 2 Photocoagulator

Novartis Announces Plans to Spin Off Alcon

Glaukos Announces FDA Approval of iStent Inject for Lowering IOP

Aerpio Prices $45M Public Offering, Moves to Nasdaq Capital Market

Coming soon

2018 Glaucoma Device Report: A Global Market Analysis for 2017 to 2023