Hoping to capitalize on consumer outrage, Imprimis Pharmaceuticals (IMMY) plans to sell a cheaper, compounded version of the Restasis dry-eye treatment that is sold by Allergan (AGN) and has been at the center of a widening controversy in recent weeks.
The company plans to sell its version for a fraction of the roughly $500 monthly cost for Restasis, which generated nearly $1.5 billion in sales last year, although may now face generic competition next year after a federal court judge last week invalidated several patents for the medicine.
“We think there is a need for an alternative, because there is demand for accessible medicines,” Imprimis chief executive Mark Baum told us. The compounded version will be made on a “customized” basis and cost 99 cents for the first month, and $79 each month thereafter, on a cash basis.
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