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The Seattle biotech Omeros (OMER) lost favorable Medicare reimbursement for its only approved product — a cataract surgery drug — at the end of last year, making it likely sales will plunge this year, according to a consultant to the company.

The favorable policy meant hospitals and surgery centers where Medicare patients go for cataract procedures received a separate reimbursement for the drug, Omidria, for three years. But that policy expired when the calendar clicked over to Jan. 1, said Kevin Corcoran, president of Corcoran Consulting Group and an expert on ophthalmology reimbursement issues. Omeros is a Corcoran client.


“The implication of this event is that customers who have used Omidria in the past will seek some rebalancing of the purchase price as a result of a new, lower level of reimbursement,” Corcoran added.

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