SAN DIEGO, Feb. 19, 2014 /PRNewswire/ -- Imprimis Pharmaceuticals, Inc. (Nasdaq: IMMY), a specialty pharmaceutical company focused on the development and commercialization of proprietary and novel sterile and topical drug formulations, today announced that Randle House has joined the company as Vice President of Pharmacy Operations. In this role, House will head the Company's distribution and operations team to make and distribute its patent-pending proprietary drug formulations and other novel pharmaceutical solutions.
In December of 2013, Imprimis announced its intention to pursue a compounding pharmacy strategy in accordance with the Drug Quality and Security Act, and earlier this month announced that it had entered into an agreement to acquire Pharmacy Creations, a premier, state-of-the-art compounding pharmacy located in Randolph, New Jersey.
"We are pleased to welcome Randle House as a member of the Imprimis management team," said Imprimis CEO Mark L. Baum. "We believe that his deep experience establishing, growing and optimizing pharmacy operations will be a critical factor as we work to achieve our mission of making and distributing our proprietary formulations to patients and physicians across the United States. We believe our business model has the potential to advance access to personalized medicine and deliver innovative, near-term and affordable medical solutions."
House is a seasoned pharmacy industry business leader with both small and large company operational background including key roles at Rite Aid Corporation, BioScrip, Inc. and Eckerd Pharmacy. He brings a breadth of experience in compounding, specialty and retail pharmacy environments. Most recently, he was Vice President of Operations at Avella, Inc. where he oversaw compounding and specialty operations at sixteen locations across the country. Prior to Avella, in addition to managing and growing a $300 million annual revenue pharmacy business for BioScrip, Randle acted as Director of Pharmacy Acquisitions for Rite Aid Corporation after previously managing a $620 million annual revenue 250 unit pharmacy business. Randle began his career at Eckerd Pharmacy in 1999, eventually managing up to 49 pharmacies with annual sales of approximately $173 million before Eckerd was purchased by Rite Aid.
"It is inspiring to join such a visionary organization at this early stage and direct the strategic operational groundwork. My skills and experience are particularly well suited for the role I will play at Imprimis and I am excited to work together with the Imprimis team to build something that will positively impact our community of customers," said Randle House who earned his Doctor of Pharmacy degree from the University of Mississippi. "It is not every day that one has the opportunity to effect the delivery of truly personalized medicine and we are excited to use this business model to deliver high-quality, safe innovation to physicians and patients."
ABOUT IMPRIMIS PHARMACEUTICALS San Diego-based Imprimis Pharmaceuticals, Inc. (Nasdaq: IMMY) is a specialty pharmaceutical company focused on the development and commercialization of proprietary and novel sterile and topical drug formulations. Certain of Imprimis' patent-pending drug formulations are available today and are being prescribed by physicians. For more information, please visit www.imprimispharma.com or www.GoDropless.com.
SAFE HARBOR This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward looking statements." Forward looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include risks and uncertainties related to Imprimis' ability to close the acquisition of Pharmacy Creations, LLC and realize the expected benefits of the transaction, acquire, develop, commercialize and market new formulations and technologies, enter into strategic alliances and transactions, including arrangements with pharmacies, physicians and healthcare organizations for the development and distribution of its formulations, commercialize its formulations and technologies, obtain intellectual property protection for its assets, accurately estimate its expenses and cash burn, and raise additional funds when necessary, risks related to research and development activities related to its formulations and technologies, the projected size of the potential market for its technologies and formulations, unexpected new data, safety and technical issues, regulatory and market developments impacting compounding pharmacies, outsourcing facilities and the pharmaceutical industry, competition and market conditions. These and additional risks and uncertainties are more fully described in Imprimis' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Such documents may be read free of charge on the SEC's web site at www.sec.gov. Undue reliance should not be placed on forward looking statements, which speak only as of the date they are made. Except as required by law, Imprimis undertakes no obligation to update any forward looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
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SOURCE Imprimis Pharmaceuticals, Inc.