Omeros Revenues Drop Steeply with Omidria’s Temporary Loss of Pass-through Status

August 10, 2018: By Jon Swedien

Omeros reported Q3-2016 revenues for Omidria of $11.3 million.Revenues from Omidria dropped to $1.7 million in Q2-2018 from $17.2 million in Q2-2017, Seattle-based Omeros reported Aug. 9.

The 90 percent 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

CMS Allows Medicare Advantage Plans to Apply Step Therapy to Retinal Injections

Glaukos Reports Drug Collaboration with D. Western, Q2-2018 Net Sales Increase of 5 Percent

Allergan Will Co-develop Editas’ CRISPR Genome Editing Candidate for LCA10

Spark Reports Q2-2018 Net Sales of $4.3 Million for Luxturna

Aerie’s Rhopressa Posts $2.4 Million in Net Revenues in Q2-2018

Astellas Acquires Quethera, Glaucoma Gene Therapy Candidate in Potential $109 Million Deal

STAAR Surgical Completes $77.9 Million Public Offering

Rheon’s eyeWatch Adjustable Glaucoma Device Implanted in Three UK Patients

Carl Zeiss Meditec Revenues Total $356 Million in Third Quarter of FY2018, a 12.7 Percent Increase

Kedalion Therapeutics Raises $5 Million in Series A Financing

Second Sight Reports 17 Argus II Implantations in Q2-2018; Firm to Focus on Orion System

Iridex Revenues Grow 3 Percent in Q2-2018

Omeros Revenues Drop Steeply with Omidria’s Temporary Loss of Pass-through Status

Shire’s Xiidra Delivers $100 Million in Q2-2018 Revenues, an Increase of 75 Percent

STAAR Posts Q2-2018 Revenues of $33.9 Million, a 55 Percent Increase

Avedro Names Glaukos CEO Thomas Burns to its Board

Aerie Licenses DSM’s Bioerodible Implant Technology for Ophthalmic Use for $15 Million

Alimera’s Q2-2018 Revenues Increase 5 Percent

Presbyopia Therapies’ PRX Meets Phase IIb Endpoints

Clinical Study of Imprimis’ Dropless Formulation Set to Begin in Canada

Coming soon

2018 Ophthalmic Laser Report: A Global Market Analysis for 2017 to 2023 (Photocoagulation, Photodisruption, and SLT