REDUVO™ - A Major Milestone for Tetra Bio-Pharma Inc.
Tetra Bio-Pharma is set to launch REDUVO™, its first cannabinoid-derived medicine, in Canada, with expected 5-year cumulative gross sales of $121M. The Company has initiated various pre-launch activities and is confident in receiving a Notice of Compliance from Health Canada in the coming months. Key preparations include a distribution agreement and reimbursement strategy development. Additionally, the global drug launch of REDUVO™ Adversa® is planned for 2024, with projected global gross sales of $79M by 2026.
- Expected 5-year gross sales of REDUVO™ to reach $121M in Canada.
- Initiated various pre-launch activities, enhancing market readiness.
- Confidence in receiving Notice of Compliance from Health Canada.
- None.
- Tetra is gearing up to launch REDUVO™, its first cannabinoid-derived medicine, in Canada.
- REDUVO™ 5-year cumulative gross sales expected to reach
$121M . - The Company has started numerous pre
-launch activities to prepare for the introduction of REDUVO™ on the Canadian Market.
OTTAWA, ON, Oct. 5, 2021 /PRNewswire/ - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX: TBP) (OTCQB: TBPMF) (FRA: JAM1), a leader in cannabinoid-derived drug discovery and development announced today that numerous pre-launch activities for REDUVO™ have been initiated. REDUVO™ is a cannabinoid-derived drug indicated in chemotherapy-induced nausea and vomiting (CINV). In December 2020, the Company submitted a New Drug Submission to Health Canada which is currently in its final stage of review by the regulator.
The Company is pleased to share that the following activities have been started or completed:
- Distribution agreement;
- Reimbursement strategy development;
- Customer segmentation and targeting;
- Medical and commercial field team staffing process through a Contract Sales Organization (CSO); and
- Strategy development and initiation.
Steeve Néron, Chief Commercial Officer of Tetra Bio-Pharma said "We are now entering in a major transformation going from a biotech company strictly focused on research into a biopharma with commercial operations. We remain confident that REDUVO™ shall receive a Notice of Compliance (NoC) from Health Canada in the coming months. REDUVO™ will help us create our Canadian footprint with healthcare professionals to establish our leading position in cannabinoid-derived medicines."
Financial impacts:
- 5-year plan (2022-2026) cumulative gross sales are expected to reach
$121M in Canada. - REDUVO™ will pave the way for the global drug launch of REDUVO™ Adversa® in 2024, a dronabinol administered product through an innovative mucoadhesive tablet delivery system, including patent protection.
- REDUVO™ Adversa® cumulative global gross sales are expected to reach
$79M by 2026.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX: TBP) (OTCQB: TBPMF) (FRA:JAM1) is a leader in cannabinoid-derived drug discovery and development with a FDA and a Health Canada cleared clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. Our evidence-based scientific approach has enabled us to develop a pipeline of cannabinoid-based drug products for a range of medical conditions, including pain, inflammation, and oncology. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing biopharma industry by regulators, physicians and insurance companies.
Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company's research and development strategies, including the success of this product or any other product, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
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SOURCE Tetra Bio-Pharma Inc.
FAQ
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