- Valeo (VPH) has entered into a commercialization and supply agreement with Novartis Canada
- Under the seven-year agreement, Valeo will become the exclusive Canadian distributor of XIIDRA and SIMBRINZA, a pair of ophthalmology solutions
- Valeo will begin recognizing revenue from the partnership in Q4 2022
- Valeo Pharma is a pharmaceutical company focused on the respirology, allergy, ophthalmology and specialty product spaces
- Valeo (VPH) is up by 1.59 per cent trading at $0.64 per share
Valeo (VPH) has entered into a commercialization and supply agreement with Novartis Canada.
Under the agreement, Valeo will become the exclusive Canadian distributor of XIIDRA (lifitegrast) and SIMBRINZA (brinzolamide / brimonidine tartrate) responsible for all commercial and medical activities.
XIIDRA is a prescription eye drop solution for the treatment of dry eye disease.
SIMBRINZA is a prescription eye drop solution for the reduction of intraocular pressure in adults with open-angle glaucoma or ocular hypertension.
Both Novartis products are supported by standout phase-III clinical data.
The arrangement became effective on July 29, 2022, and will continue for an initial term of seven years.
Valeo will begin recognizing revenue from the partnership in Q4 2022.
Approximately 21 per cent of Canadians (IQVIA CDH, Ocul Surf) experience ocular symptoms associated with dry eye, while 400,000 Canadians (CMAJ, CNIB Foundation) suffer from glaucoma, with open-angle glaucoma accounting for 95 per cent of cases.
“These products have significant upside revenue potential which will be supported by our dedicated ophthalmic commercial unit,” said Steve Saviuk, CEO of Valeo. “The addition of these products significantly increases our revenue base and accelerates our drive to profitability.”
Valeo Pharma is a pharmaceutical company focused on the respirology, allergy, ophthalmology and specialty product spaces.
Valeo (VPH) is up by 1.59 per cent trading at $0.64 per share as of 11:15 am EST.
