NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN: NBY) is a leading pharmaceutical company with a primary focus on the eye market. The company is looking to commercializing Avenova for the eye market. To do the same, the company has partnered with ImprimisRx, leading ophthalmology-focused pharmaceutical businesses, to promote the Avenova.
ImprimisRx to support the sales: As per the company announcement, ImprimisRx, a subsidiary of Harrow Health, is expected to support NovaBay with national sales. Further, ImprimisRx is expected to provide the company marketing and distribution support for Avenova. The Avenova is FDA (The U.S Food and Drug Administration) cleared 0.01% hypochlorous acid Avenova in 40 ml bottles. The drug Avenova is a proven (clinically) antimicrobial lid and lashes solution for diagnosing various chronic eye conditions. ImprimisRx, in the past, has successfully commercialized various high-quality products with the help of its vast network of ophthalmologists and optometrists. Therefore, as per the street, NovaBay opted for an ideal partner for widening the reach of Avenova.
Avenova addresses a concern of the dry eye market: Avenova is expected to address a rapidly increasing dry eye market as per the press release. Nearly 30 million Americans are suffering from blepharitis and meibomian gland dysfunction, known as chronic eye conditions. Given the success of Avenova, various Ophthalmologists and optometrists prescribe Avenova before and after Lasik and cataract procedures. Furthermore, the agreement will enable the company to expand the reach of Avenova cost-efficiently within the prescription channel. Moreover, Avenova supports the ImprimisRx product portfolio. ImprimisRs stated that the new product supports their commitment to providing customers with easy access to high-quality medications. The industry will closely monitor the commercial success of Avenova. In addition, the support of the partner to build demand within the addressable ophthalmic market.
Novabay believes that partnering with ImprimisRx will help the company to streamline its product. Further, it will strengthen its delivery pipeline, my removing various layers. Finally, the agreement will help the company sell the product cost-effectively to the end consumer.