Valeo Pharma enters into LOI with pan-Canadian Pharmaceutical Alliance over Redesca and Redesca HP to prevent and treat thromboembolic disorders

Valeo Pharma Inc (CSE:VPH) (OTCQB:VPHIF) (FRA:VP2) has completed its negotiations and entered into a letter of intent (LOI) with the pan-Canadian Pharmaceutical Alliance (pCPA) regarding Redesca and Redesca HP, its low molecular weight heparin (LMWH) biosimilar, for the prevention and treatment of thromboembolic disorders. 

“The successful conclusion of negotiations with pCPA is a significant milestone delivered for the Redesca commercialization program,” said CEO Steve Saviuk in a statement Tuesday. 

“We can now exchange with the provincial, territories and federal instances to ensure coverage under publicly-funded drug plans in Canada. While most prescriptions of LMWHs are initiated in the hospital, retail pharmacies play an important role in providing continued treatment to patients when they are discharged from hospital. Coverage by publicly funded drug plans are therefore a key component in making treatment available to Canadians.”

READ: Valeo Pharma shares get a boost as it unveils deal with Novartis on two Health Canada approved asthma therapies

Frederic Fasano, Valeo’s president and chief operating officer added: “We are particularly pleased to make Redesca available soon for Canadian patients and also for hospitals. The team at Valeo have worked tirelessly to ensure a robust supply of Redesca especially in the current pandemic conditions, where patients suffering from SARS-CoV-2 are undergoing severe coagulopathy with various thromboembolic complications. LMWHs, like Redesca, are key to prevent and treat those severe COVID-19 related thrombotic events.” 

Established in August 2010, Valeo said the pan-Canadian Pharmaceutical Alliance conducts joint provincial/territorial/federal negotiations for brand name and generic drugs in Canada to achieve greater value for publicly-funded drug programs and patients through the use of the combined negotiating power of participating jurisdictions.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Story by ProactiveInvestors