Valeo Pharma Inc (CSE:VPH) (OTCQB:VPHIF) (FRA:VP2) has received notice of a positive recommendation from Quebec’s Institut national d’excellence en santé et en services sociaux (INESSS) to the Health Minister concerning its medications for the prevention and treatment of thromboembolic disorders.
In a statement Monday, the company said the recommendation calls for the inclusion of its Low Molecular Weight Heparin biosimilar (LMWH), Redesca and Redesc HP, on the list of medications covered by the Régie de l’assurance maladie du Québec (RAMQ).
"We are very pleased to have received a positive recommendation by INESSS, a key milestone in the coming commercial launch of Redesca," said Steve Saviuk, Valeo's CEO.
READ: Valeo Pharma appoints new president and COO; Saviuk continues as CEO and becomes vice-chairman
"Redesca has a long and strong history of safety and efficacy with more than eight years of proven in-market data internationally. Redesca will be available across Canada and Valeo intends to pursue discussions for the inclusion of Redesca on all other provincial formularies. Valeo is planning to launch Redesca during the first half of 2021," Saviuk added.
In addition to being used primarily for treating and preventing deep vein thrombosis and pulmonary embolism, Valeo said that LMWHs are also now increasingly used as a first-line defense tool in the fight against COVID-19.
The World Health Organization issued guidance regarding the prophylaxis use of LMWH to help prevent complications in the clinical management of severe acute respiratory infections when the novel coronavirus infection is suspected, the company noted.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham