Valeo Pharma announces Distribution Agreement for Synacthen® Depot in Canada

MONTREAL, Feb. 19, 2015 /CNW Telbec/ - Valeo Pharma Inc., a Canadian specialty pharmaceutical company, announced today it has entered into a distribution agreement with Questcor Pharmaceuticals Inc., a subsidiary of Mallinckrodt plc, for Synacthen® Depot (cosyntropin zinc hydroxide injection) in Canada. Questcor now operates as the Autoimmune and Rare Diseases business of Mallinckrodt Pharmaceuticals.

"The agreement for Synacthen® Depot represents a further step in Valeo Pharma's strategic shift in therapeutic focus," said Steve Saviuk, President and Founder of Valeo Pharma. "Combined with the recent sale of our dermatology division, Valeo Pharma is positioned as a rapidly growing, full-service specialty pharmaceutical company focused on bringing new and orphan specialty pharmaceutical products to the Canadian market."

Synacthen® Depot has approval in Canada for therapeutic use in patients diagnosed with many difficult-to-treat rare diseases and as a diagnostic agent to screen patients presumed to have adrenocortical insufficiency. Valeo Pharma will be responsible for all sales, marketing, regulatory, and quality activities in Canada for the product.

About Mallinckrodt Pharmaceuticals
Mallinckrodt is a global specialty biopharmaceutical and medical imaging business that develops, manufactures, markets and distributes specialty pharmaceutical products and medical imaging agents. Areas of focus include therapeutic drugs for autoimmune and rare disease specialty areas like neurology, rheumatology, nephrology and pulmonology along with analgesics and central nervous system drugs for prescribing by office- and hospital-based physicians. The company's core strengths include the acquisition and management of highly regulated raw materials; deep regulatory expertise; and specialized chemistry, formulation and manufacturing capabilities. The company's Specialty Pharmaceuticals segment includes branded and specialty generic drugs and active pharmaceutical ingredients, and the Global Medical Imaging segment include contrast media and nuclear imaging agents. Mallinckrodt has more than 5,500 employees worldwide and a commercial presence in roughly 65 countries. The company's fiscal 2014 revenue totaled $2.54 billion. To learn more about Mallinckrodt, visit www.mallinckrodt.com.

About Valeo Pharmaceuticals
Valeo Pharma is a Canadian specialty pharmaceutical company founded with the commitment to provide healthcare professionals and patients with therapeutically sought after products and services.  With its experienced team of pharmaceutical professionals and through its active acquisition and in-licensing of products, Valeo is rapidly becoming a key fixture in the Canadian specialty pharmaceutical landscape.

 

SOURCE Valeo Pharma

Image with caption: "Logo - Valeo Pharma (CNW Group/Valeo Pharma)". Image available at: http://photos.newswire.ca/images/download/20150219_C7874_PHOTO_EN_12343.jpg

For further information: Steve Saviuk, President at Valeo Pharma Inc., 514-693-8830, saviuk@valeopharma.com

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