Valeo Pharma signs agreement for the listing of Redesca and Redesca HP on the Ontario Drug Benefit Formulary with effect from April 30

Valeo Pharma Inc. (CSE:VPH) (OTCQB:VPHIF) (FRA:VP2) said it has entered into a Product Listing Agreement (PLA) with the executive officer of the Ontario Public Drug Program for the listing of Redesca and Redesca HP, it’s low molecular weight heparin (LMWH) biosimilar, on the Ontario Drug Benefit Formulary with effect from April 30, 2021.

“With Ontario representing 37% of the Canadian market for LMWHs, the listing of Redesca on the Ontario public formulary is a key milestone for the Redesca commercialization program”, said Frederic Fasano, president and COO of Valeo in a statement.

READ: Valeo Pharma upsizes and closes a $6.645 million non-brokered private placement of unsecured non-convertible debenture units

“This is welcome news for millions of Canadians who rely on public insurance to access their prescription medications and for the Government of Ontario who will benefit from significant savings resulting from the listing of the first LMWH biosimilar. We anticipate additional provincial coverage will follow,” Fasano added.

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.

Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory, Neurology, Oncology and Hospital Specialty Products.

Headquartered in Kirkland, Quebec, the company has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization.

Contact the author at [email protected]

Story by ProactiveInvestors