- AmetopTM sales expected to start contributing to Valeo's revenues in the second half of 2020
MONTREAL, April 28, 2020 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH) ("Valeo" or the "Company"), a Canadian specialty pharmaceutical company, announced today that it has entered into a licensing agreement with Alliance Pharma plc (AIM: APH) ("Alliance") for the exclusive commercialization rights to AmetopTM Gel (Tetracaine hydrochloride gel) in Canada.
"The addition of AmetopTM is in line with our corporate strategy of growing our hospital specialty portfolio with products that can be rapidly accretive to our revenues and margins", said Steve Saviuk, Valeo's President and Chief Executive Officer. "Valeo's commercial infrastructure and internal capabilities are well suited to maximize AmetopTM's sales and market share in Canada. We expect to commence selling AmetopTM in the second half of 2020."
AmetopTM is currently being sold in Canada. Alliance aquired all rights to AmetopTM from Smith & Nephew plc in December 2017.
"We are excited to partner with Valeo to expand the availability of AmetopTM within healthcare settings in Canada.", said Amanda Sicvol, Alliance U.S. Country Manager. "AmetopTM offers physicians a quick-acting, long-lasting local anesthetic solution with broad applicability across patient populations. Valeo is well-positioned to bring AmetopTM to benefit even more patients."
About AmetopTM (tetracaine hydrochloride gel)
AMETOPTM Gel is a 4%w/w tetracaine hydrochloride gel indicated for percutaneous local anesthetic to produce anesthesia of the skin prior to venepuncture or venous cannulation, including intravenous injections of medications.
About Alliance Pharma plc
Alliance Pharma plc (AIM: APH) is an international healthcare group, headquartered in the UK with subsidiaries in Europe, the Far East and the US with a wide international reach through an extensive network of distributors, generating sales in more than 100 countries.
Alliance currently owns or in-licenses the rights to more than 90 consumer healthcare products and pharmaceuticals, which are managed on a portfolio basis according to their growth potential. Promotional investment is focused on a small number of brands with significant international or multi-territory reach. The remainder of the portfolio comprises products which are sold in a limited number of local markets and require little or no promotional investment.
Alliance's strategy allows them to benefit both from organic growth opportunities and through carefully selected acquisitions.
For more information on Alliance, please visit our website:
www.alliancepharmaceuticals.com
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. 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.
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SOURCE Valeo Pharma inc.
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