Valeo Pharma Announces Additional Provincial Reimbursement Coverage for Redesca™ and Redesca HP™

Rhea-AI Summary

Valeo Pharma Inc. announced that its low molecular weight heparin biosimilars, Redesca™ and Redesca HP™, are now publicly reimbursed in 7 Canadian provinces and territories. Additionally, private payer health plan coverage has reached 70%. Provinces currently covering these products include Alberta, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland, and the Northwest Territories. Valeo's COO expressed optimism about the product's market impact and ongoing discussions for broader coverage by year-end.

Positive

• Public reimbursement for Redesca™ and Redesca HP™ secured in 7 provinces and territories.
• 70% private payer health plan coverage achieved in Canada.
• Anticipation of remaining provinces covering by year-end.

Negative

• None.

• Redesca™ and Redesca HP™ now covered for public reimbursement in 7 provinces and territories across Canada
  
• Private payer health plan coverage in Canada now at 70%  

MONTREAL, July 13, 2021 /PRNewswire/ - Valeo Pharma Inc. (CSE:VPH) (OTCQB: VPHIF) (FSE: VP2) ("Valeo" or the "Company"), a Canadian pharmaceutical company, announced today that Redesca™ and Redesca HP™, its low molecular weight heparin ("LMWH") biosimilar, is now covered for public reimbursement in 7 provinces and territories across the country in addition to several governmental agencies and 70% of privately insured lives in Canada for private payer health plans reimbursement.

Amongst Canadian provinces, territories and governmental agencies presently publicly covering Redesca™ and Redesca HP™ for reimbursement are, Alberta, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland, Northwest Territories, Non Insured Health Benefits for registered First Nations and recognized Inuit and Veterans Affairs Canada. Public reimbursement coverage in the remaining provinces is anticipated by the end of the year.   

"We are very pleased to have secured public reimbursement coverage for Redesca by a majority of provinces across the country and to be in advanced discussion stages for the remaining provinces. Reimbursement coverage is always a key component of any commercialization strategy in healthcare industry and we are executing according to plan with regards to our Redesca program", said Frederic Fasano, Valeo's President and Chief Operating Officer. "As one of our three transformative products recently launched, Redesca has already started materially impacting our financial performance. Given the positive feedback gathered from the field by our dedicated team, we are confident to see Redesca continue to grow rapidly and help us deliver on its clinical ans medical values, going forward".  

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 Valeo Pharma

Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory Diseases, Neurodegenerative Diseases, Oncology and Hospital Specialty Products. Headquartered in Kirkland, Quebec Valeo Pharma has all the required capabilities and the full 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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SOURCE Valeo Pharma Inc.

FAQ

Which Canadian provinces cover Redesca and Redesca HP for public reimbursement?

Redesca™ and Redesca HP™ are covered in Alberta, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland, and Northwest Territories.

What is the percentage of private payer health plan coverage for Redesca in Canada?

The private payer health plan coverage for Redesca in Canada is currently at 70%.

When is Valeo Pharma expecting to secure public reimbursement coverage in remaining provinces?

Valeo Pharma anticipates securing public reimbursement coverage in the remaining provinces by the end of the year.

What is the significance of reimbursement coverage for Valeo Pharma's products?

Reimbursement coverage is crucial for the commercialization strategy of Valeo Pharma as it impacts the adoption and sales of its products.