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An omnibus win for Omeros

March 22, 2018 10:46 PM UTC

A provision in the proposed omnibus appropriations bill approved Thursday by the House of Representatives may offer Omeros Corp. (NASDAQ:OMER) a lifeline for its struggling cataract surgery drug Omidria phenylephrine/ketorolac, sending the company's stock up $4.11 (35%) to $15.75 on Thursday. The provision would reinstate two additional years of Medicare reimbursement pass-through status beginning on Oct. 1 for certain drugs whose status had expired on Dec. 31, 2017, including Omidria.

The Medicare Part B pass-through payment provides higher reimbursement levels for a three-year period to new drugs and devices that are administered in hospital out-patient facilities or physicians’ offices. It is intended to promote the dissemination of new technologies...

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