Valeo Pharma Inc. (CSE:VPH, OTCQB:VPHIF) said it has completed implementation of its new corporate structure and launched full commercial activities in support of Enerzair Breezhaler triple therapy and Atectura Breezhaler dual therapy, two new asthma medications.
The company said it is now structured into two business units, Respiratory and Specialty Products, led by industry veterans Howard Wiseman and Jean-Charles Leathead respectively.
With the completion of a full national sales structure for each business unit, Valeo added, its sales team has expanded to 65 professionals out of a total of 95 full-time employees. The company has also recently expanded its head office and warehouse capacity to support its recent product launches.
READ: Valeo Pharma says Redesca is now covered for public reimbursement across much of Canada
"Our Respiratory business unit has deployed full commercial coverage across Canada and we are actively engaging with healthcare professionals in support of Enerzair and Atectura", said Steve Saviuk, Valeo CEO in a statement.
"Our recently completed medical team, headed by Nelly Komari, provides us with strong capabilties for our expanding portfolio of innovative drugs. Redesca®, Enerzair and Atectura are important launches for us and we expect these three products to lead our sales growth. Launched in April, Redesca has quickly become our fastest growing product line and we continue to believe that it will achieve peak revenues of $30M annually".
Commenting on the new corporate structure implementation completion, Frederic Fasano, Valeo's president and chief operating officer added: "We are very pleased to have been able to complete the implementation of our new corporate structure and commercially launch three transformative products in such a short period of time. This testifies to the quality of our people in place and of those recently recruited.
"The successful integration of our dedicated sales teams with the related supportive head office functions will create significant operating leverage over the coming years as we continue to add strategic assets to each business unit and take full advantage of our new corporate structure and commercial platform".
Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory Diseases, 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.
Contact the author at jon.hopkins@proactiveinvestors.com