Imprimis enters purchase and supply agreement with PBM

Imprimis Pharmaceuticals has reached a purchase and supply agreement with the specialty pharmacy division of one of the country’s biggest pharmacy benefits managers (PBMs).
The PBM will supply Imprimis with medications that are completely formulary, compounded and inexpensive. The medications will come from the PBM’s nationwide network of specialty pharmacies.
"Health care payors in the U.S. and their patients are concerned about the rising costs of prescription drugs,” Imprimis CEO Mark Baum said. “This agreement represents a new approach to more efficiently deliver medications from the manufacturer directly to the consumer, thereby eliminating several layers of inefficiencies for the tens of millions of Americans whose prescription drug benefits are managed by this renowned PBM."
Baum believes this model is going to drive down costs significantly for their partner's insurance company customers, and that other payors will see a viable approach to lower costs while providing patients with safe, high quality, innovative solutions.
"We expect our state-of-the-art New Jersey facility, which we recently registered with the FDA as a 503B outsourcing facility, will play an important role as we begin to dispense our Imprimis Cares formulary,” Baum said.