Valeo Pharma Inc. (CSE: VPH) (OTCQB: VPHIF) (FSE: VP2) ("Valeo" or the "Company"), a Canadian pharmaceutical company, today announced that it has successfully entered into a Product Listing Agreement ("PLA") with the British Columbia Minister of Health, for the listing and public reimbursement of Redesca and Redesca HP, its low molecular weight heparin ("LMWH") biosimilar for the prevention and treatment of thromboembolic disorders, on the British Columbia PharmaCare list of medications, effective today.
The Company also announces that its two innovative asthma therapies; Enerzair Breezhaler and Atectura Breezhaler, have also been accepted for public reimbursement by the Saskatchewan Drug Plan and the Prince Edward Island ("P.E.I.") Pharmacare Drug Plan. The public reimbursement is currently in effect in Saskatchewan with the Prince Edward Island listing taking effect on March 28, 2022.
"We are very pleased to have secured public coverage for Redesca in British Columbia while its originator enoxaparin has been simultaneously delisted. Our biosimilar is now covered in every province and it is already our best selling drug. We anticipate further upside going forward now that it is publicly fully covered and that hospitals across the country are making the step to move to biosimilars LMWH," said Frederic Fasano, Valeo's President and Chief Operating Officer. "Public reimbursement coverage for our two asthma drugs has also progressed rapidly and we now anticipate securing the remaining two provinces in the coming weeks. With our three lead drugs almost fully covered for public and private reimbursement in Canada, we are now confidently working towards increasing their respective market shares and positioning them as industry leading medications in their respective therapeutic fields."
Public coverage in these jurisdictions also means that private payers that follow public plans will now cover these three drugs. Private coverage for Redesca, Enerzair and Atectura now exceeds 90% of privately covered lives across Canada.
About Redesca™, Redesca HP™
Redesca is a low molecular weight heparin biosimilar. LMWHs are injectable anticoagulant drugs used primarily to treat and prevent deep vein thrombosis and pulmonary embolism. Redesca has more than 8 years of proven in-market safety internationally. and more than 150 million patient days treated in Europe alone.
About Enerzair® Breezhaler®
Enerzair® Breezhaler® is indicated as a maintenance treatment of asthma in adult patients not adequately controlled with a maintenance combination of a long-acting beta2-agonist and a medium or high dose of an inhaled corticosteroid who experienced one or more asthma exacerbations in the previous 12 months. This formulation combines the bronchodilation of indacaterol acetate (a LABA) and the glycopyrronium bromide (a LAMA) with mometasone furoate (an ICS) in a precise once-daily formulation, delivered via the dose-confirming Breezhaler® device.
About Atectura® Breezhaler®
Atectura® Breezhaler® is indicated as a once-daily maintenance treatment of asthma in adults and adolescents 12 years of age and older with reversible obstructive airways disease. Atectura® Breezhaler® should be prescribed for patients not adequately controlled on a long-term asthma control medication, such as ICS or whose disease severity clearly warrants treatment with both a LABA and an ICS. Atectura® Breezhaler® combines the bronchodilation of indacaterol acetate (a LABA) with the anti-inflammatory mometasone furoate (an ICS) in a precise once-daily formulation, delivered via the dose-confirming Breezhaler® device.
Valeo Pharma Inc. became the exclusive distributor in Canada of both Enerzair® Breezhaler® and Atectura® Breezhaler® following the signing of an agreement with Novartis Pharmaceuticals Canada Inc. in March 2021. As such Valeo Pharma Inc. is responsible for all medical and commercial activities for both products which are two innovative therapies approved by Health Canada for the treatment of asthma.
About Valeo Pharma
About Valeo Pharma Valeo Pharma is a pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respirology, Neurodegenerative Diseases, Oncology and other specialty products. Headquartered in Kirkland, Quebec, Valeo Pharma has the full capability and complete infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.
Forward Looking Statements
This press release contains forward-looking statements about Valeo's objectives, strategies and businesses that involve risks and uncertainties. These statements are "forward-looking" because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.
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