More News
Want to Read Locked Articles?
Already Have an Account?
Register A Corporate Account
A corporate account gives you access to licensed reports and subscriptions, the latest news, a personalized dashboard, and weekly emails with news and data.
Imprimis’ Q3-2018 Revenues Increase 66 Percent; Company Will Change Name to Harrow Health
Author: Joan McKenna
Imprimis reported Nov. 13 that its Q3-2018 revenues totaled $10.7 million, a 66 percent increase over Q3-2017 revenues of $6.5 million.
Ophthalmology revenues increased 81 percent year over year to $8.9 million.
The company reported a net loss in Q3-2018 of $2.5 million.
Imprimis CEO Mark Baum also announced that Imprimis will change its name to Harrow Health, reflecting the company’s vision of using its intellectual property as seeds planted in spinoff companies for future growth and yield. A harrow is equipment used in farming to prepare the ground for seeding.
Baum said the board has backed the name change. Shareholders still need to approve it.
Imprimis also reported that it formed two new drug development subsidiaries, Mayfield Pharmaceuticals and Radley Pharmaceuticals, with drug formulations intended to be taken through the FDA’s 505(b)(2) development pathway.
In addition, Imprimis said it has transitioned to a commission-only sales force, and it credits the change with October being the best month by far in the company’s history.
San Diego-based Imprimis was founded in 2011.