MONTREAL, March 17, 2020 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH) ("Valeo" or the "Company"), a Canadian specialty pharmaceutical company, commented today on the World Health Organization's ("WHO") recently issued interim guidance regarding the prophylaxis use of low molecular weight heparin ("LMWH") to help prevent complications in the clinical management of severe acute respiratory infections when novel coronavirus (COVID-19) infection is suspected.
"The WHO guidelines call for the use of LMWHs to help reduce the incidence of venous thromboembolism which can have serious repercussions for patients with respiratory illnesses such as those associated with COVID-19", said Steve Saviuk, Valeo Pharma's President and CEO, "LMWHs remain a standard of care whenever patients are at risk of developing blood clots."
Valeo Pharma has submitted a New Drug Submission with Health Canada seeking the marketing approval of Redesca, the first LMWH Biosimilar filed in Canada. Valeo Pharma expects approval from Health Canada in Fall 2020 with commercial availability shortly thereafter.
LMWHs are injectable anticoagulant drugs used primarily to treat and prevent deep vein thrombosis and pulmonary embolism. Total Canadian sales of LMWHs exceeded $200M in 2019.
About Valeo Pharma
Valeo Pharma is a specialty pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada. With a focus on Neurodegenerative Diseases, Oncology, and Hospital Specialty Products, Valeo Pharma has a growing portfolio of innovative products and the full infrastructure to properly manage these products through all stages of commercialization. Headquartered in Kirkland, Quebec, Valeo Pharma has all capabilities internally to register and market health care solutions for Canadian patients. 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 uinknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.
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SOURCE Valeo Pharma inc.
For further information: Steve Saviuk, President and CEO, 514 693-8830, [email protected]; Frederic Dumais, Director Communications and Investor Relations, 514-782-8803, [email protected]