What Belmar Pharma Solutions does

Belmar Pharma Solutions, operating as Belmar Midco, Inc., is a national compounding pharmacy founded in 1985 and headquartered in Golden, Colorado. The company operates eight facilities across seven states — six 503A compounding pharmacies in Colorado, Florida, Kansas, Arizona, and Wisconsin, and two 503B outsourcing facilities in Golden and Lakewood, Colorado — shipping patient-specific and office-use compounded medications to prescribers and patients in all 50 states plus Washington DC, Guam, and Puerto Rico. Belmar holds dual NABP accreditation and LegitScript certification, complies with USP standards, and operates under FDA oversight for its 503B facility, with a California Sterile License enabling sterile compounding in that state.

The company's core technology is pharmaceutical compounding: APIs are formulated into patient-specific medications across multiple dosage forms including sterile injectables, hormone pellets, topical creams, sublingual tablets, nasal sprays, flavored suspensions, capsules, troches, gels, and oral tablets. Its portfolio is anchored by Bioidentical Hormone Replacement Therapy (estradiol, estriol, testosterone, progesterone, DHEA) and Low Dose Naltrexone (1-5mg), with adjacent lines in thyroid medications, GLP-1 weight management, gender-affirming hormone therapy, sexual wellness, and chelation therapy. Proprietary combination injectables (e.g., testosterone cypionate/DHEA in grapeseed oil) and allergen-free formulations differentiate the offering from mass-produced pharmaceuticals.

Belmar's go-to-market is B2B2C: the company sells exclusively to licensed prescribers (men's and women's health clinicians, med spa/aesthetics practices, weight management and wellness clinics, telemedicine providers, and specialty therapeutic practitioners) through a prescriber portal, direct phone/fax, and EMR submission via NCPDP numbers. A Solutions Engineer team handles onboarding and account management, supported by free monthly webinars, clinical content, and training partnerships with the Hormonal Health Institute and Worldlink Medical Academy. Revenue is generated per-compounded-prescription on a quote-based, pay-as-you-go model; pricing is not publicly disclosed.

Name

Belmar Pharma Solutions

Legal name

Belmar Midco, Inc.

Website

https://belmarpharmasolutions.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

251–500 employees

Short description

Belmar Pharma Solutions is a national compounding pharmacy operating six 503A facilities and two 503B outsourcing facilities across seven states, providing patient-specific and office-use compounded medications — anchored by bioidentical hormone replacement therapy and low-dose naltrexone — to prescribers in all 50 states.

Ownership category

akta.pro rank

Product category

Compounding Pharmacy Services

NAICS

Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Specialty Pharmacies (Complex/High-Cost Therapies) (HLAFALAC)

Keywords

• Compounding pharmacy services
• Bioidentical hormone therapy
• 503A patient-specific prescriptions
• 503B outsourcing facility
• Personalized compounded medications

Headquarters

HQ city

Golden

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Compounded Prescription Medications: Revenue generated from preparing and dispensing patient-specific compounded medications prescribed by healthcare providers. Includes both 503A (patient-specific) and 503B (office-use) formulations across therapeutic areas including hormone replacement, thyroid medications, sexual wellness, weight management, and autoimmune support therapies.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Belmar Pharma Solutions operates six 503A compounding pharmacies and two 503B outsourcing facilities providing patient-specific and office-use compounded medications to healthcare providers nationwide. The core portfolio centers on bioidentical hormone replacement therapy (BHRT), low dose naltrexone, thyroid medications, weight management compounds, gender-affirming hormone therapy, and specialty therapeutic formulations across multiple dosage forms.

Product overview

Belmar Pharma Solutions is a national compounding pharmacy operating six 503A compounding pharmacies (Colorado, Florida, Kansas, Arizona, Wisconsin) and two 503B outsourcing facilities (Golden and Lakewood, Colorado). The company provides patient-specific and office-use compounded medications, with its core portfolio centered on Bioidentical Hormone Replacement Therapy (BHRT), which includes estradiol, estriol, testosterone, progesterone, DHEA, and hormone pellets. Additional product lines include Low Dose Naltrexone (LDN) for immune modulation and inflammation, testosterone cypionate/DHEA injectables, dimercaptosuccinic acid (DMSA) for heavy metal chelation, oxytocin therapy, glutathione for detoxification, thyroid medications (T3/T4/desiccated), weight management medications including GLP-1s, and sexual wellness therapies. All products are compounded to patient-specific prescriptions with various dosage forms including capsules, creams, gels, injectables, nasal sprays, pellets, suspensions, tablets, and troches. The company operates as a platform of geographically distributed facilities unified by NABP accreditation and LegitScript certification.

Differentiator

Problem solved

Functional benefit

Products and services

• 503A Compounding Pharmacy Services Patient-specific prescription compounding services for individualized medications, including bioidentical hormones, operating under Section 503A of the FDCA with state-board oversight across six pharmacy locations.
• 503B Outsourcing Facility Services

Named customers1 record

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and secondary.

• Hormonal Health InstitutecoreStrategic or Co-development PartnerStrategic training partnership providing in-depth BHRT education for providers. The partnership supports provider education and clinical training programs aligned with Belmar's compounding expertise.
• Worldlink Medical AcademycoreStrategic or Co-development PartnerStrategic training partnership for in-depth bioidentical hormone replacement therapy education. Worldlink Medical Academy provides educational content and certification programs for providers prescribing BHRT.
• NewBeautysecondaryGTM or Marketing PartnerCo-presentation of educational webinars including 'The 360° Aesthetic: Why Your Patients are Asking for Hormone Optimization' - joint marketing partnership for provider education in the aesthetics market.
• LDN Research TrustsecondaryGTM or Marketing PartnerPartnership with LDN Research Trust providing credibility and patient/provider resources for low dose naltrexone compounding services.
• Alliance for Pharmacy Compounding (APC)secondaryGTM or Marketing PartnerTrade association membership providing industry advocacy, standards development, and professional network for compounding pharmacy.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Empower Pharmacy: One of the largest US compounding pharmacies, operating 503A and 503B capabilities with national distribution and a similar BHRT/HRT-focused product portfolio. Closest direct competitor to Belmar in scale, scope, and customer mix.
• Wells Pharmacy Network: National compounding pharmacy operating both 503A and 503B facilities serving providers in all 50 states. Direct competitor with overlapping BHRT, men's/women's health, and provider-channel go-to-market.
• Wedgewood Pharmacy: Large specialty compounding pharmacy with a similar provider-direct model and broad therapeutic coverage. Comparable in scale and accreditation posture to Belmar.
• McGuff Compounding Pharmacy Services: 503A and 503B registered compounding pharmacy with nationwide reach and a provider-direct distribution model. Closely comparable in regulatory scope and customer segments.
• AnazaoHealth: Specialty compounding pharmacy with 503A and 503B facilities producing patient-specific and office-use medications. Overlaps with Belmar's therapeutic breadth and provider-channel focus.
• Triangle Compounding Pharmacy: Provider-focused compounding pharmacy with hormone therapy, thyroid, and wellness offerings. Smaller in scale but operates a similar prescriber-channel business model.

Others

• PCCA (Professional Compounding Centers of America): Industry supplier and membership organization for compounding pharmacies, providing APIs, bases, and training. Indirectly comparable as the ecosystem enabler that supplies many of Belmar's compounding inputs and supports prescriber education.

Broad incumbents

• Avella Specialty Pharmacy: Larger specialty pharmacy serving complex therapies including hormones and injectables. Competes in adjacent specialty pharmacy territory with broader therapeutic scope and payor relationships.
• Walgreens Specialty Pharmacy: National retail/specialty pharmacy chain with growing compounding and BHRT-adjacent offerings. Competes on scale and payor access rather than on personalization depth.

Emerging players

• Alto Pharmacy: Digital-first pharmacy with a provider-direct model and technology-led prescription experience. Emerging threat in the same prescriber-channel and personalized-medicine segment where Belmar operates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/belmarpharmacy
• LinkedInlinkedin.com/company/belmar-pharmacy
• Xx.com/BelmarPharmacy

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Belmar Pharma Solutions