Valeo Pharma Inc (CSE:VPH) (OTCQB:VPHIF) (FRA:VP2) has announced that private payer health plans currently covering 80% of the privately insured in Canada have agreed to provide reimbursement for Enerzair Breezhaler and Atectura Breezhaler.
Enerzair and Atectura are two new innovative asthma therapies that have been approved for use in Canada.
"Asthma therapies are largely covered by private payers representing 50% of the total market. Reimbursement of both Enerzair and Atectura are now available for the majority of privately covered lives in Canada and reimbursement proceedings with public health plans are ready to commence," said Frederic Fasano, Valeo's President and Chief Operating Officer, in a statement.
READ: Valeo Pharma projects record revenues and margins for its second quarter following Redesca launch
"Both drugs have demonstrated, in head-to-head comparison versus standard of care, significant clinical improvement of asthma-related symptoms, lung function and rate of exacerbations. These strong clinical value propositions were key in achieving the current level of private coverage," Fasano added.
The company said the Enerzair Breezhaler is indicated as a maintenance treatment of asthma in adult patients not adequately controlled with a maintenance combination of a long-acting beta2-agonist and a medium or high dose of an inhaled corticosteroid. This formulation combines the bronchodilation of indacaterol acetate (a LABA) and the glycopyrronium bromide (a LAMA) with mometasone furoate (an ICS) in a precise once-daily formulation, delivered via the dose-confirming Breezhaler device.
Valeo has struck a deal with Novartis Pharmaceuticals to commercialize the two asthma therapies. Under the agreement, Valeo will be responsible for medical and commercial activities for Enerzair and Atectura for an initial eight years, positioning it as one of the leading Canadian respiratory companies.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham