Imprimis Pharmaceuticals has announced the acquisition of what it says are the largest compounding pharmacies for sinus drugs in the US: Topical Apothecary Group, LLC (doing business as TAG Pharmacy), Aerosol Science Laboratories, Inc. (ASL Pharmacy), and SinuTopic, Inc. (Sinus Dynamics Pharmacy). Websites for all three are nearly identical, offering compounding of unspecified antibiotic, antifungal, and anti-inflammatory drugs and a nasal atomizer for the treatment of sinusitis.
According to Imprimis, 80% of ear, nose and throat doctors in the US, a total of 8,000 active prescribers, have ordered prescriptions from TAG, ASL, or Sinus Dynamics recently, and over 38,000 patients have received prescriptions from these companies.
Imprimis CEO Mark L. Baum said of seller Thousand Oaks Holding Company, “. . . following certain changes in their structure and management, their commitment to the US chronic care otolaryngology market and other related insurance reimbursement issues for their products, former management decided to exit the business. However, the need and demand for these medicines has not abated and we believe with a focused effort, using our existing resources, and a commitment to delivering proven compounded sinus medications and proprietary delivery options, we can re-establish a market-leading position in this valuable and growing segment. With our proven track record of marketing compounded drug formulations, the fact that we are acquiring tens of thousands of potential customers, and key operational and strategic initiatives we intend to begin, we believe we will drive the potential of our new sinus business into a significant source of value for our shareholders in 2016 and beyond.”
Read the Imprimis Pharmaceuticals press release.
