Tetra Bio-Pharma (TSX:TBP, OTCQB:TBPMF) Inc. said the company had achieved a “major milestone” through its first cannabinoid-derived medicine REDUVO as it announced that numerous pre-launch activities have been initiated in Canada.
REDUVO is a soft gel capsule used to treat chemotherapy-induced nausea and vomiting (CINV). It is also used to treat weight loss and severe nausea in people living with HIV infection.
The active pharmaceutical ingredient in REDUVO is dronabinol (THC), a synthetic form of the active natural substance in cannabis.
READ: Tetra Bio-Pharma says Health Canada has accepted its NDS for REDUVO
In December 2020, Tetra Bio-Pharma submitted a New Drug Submission to Health Canada which is currently in its final stage of review by the regulator.
The company indicated that a flurry of pre-launch activities for REDUVO have been started or completed, which include the following:
- Distribution agreement;
- Reimbursement strategy development;
- Customer segmentation and targeting;
- Medical and commercial field team staffing process through a Contract Sales Organization (CSO); and
- Strategy development and initiation.
In a statement, Tetra Bio-Pharma chief commercial officer Steeve Néron said: "We are now entering in a major transformation going from a biotech company strictly focused on research into a biopharma with commercial operations. We remain confident that REDUVO shall receive a Notice of Compliance (NoC) from Health Canada in the coming months.”
“REDUVO will help us create our Canadian footprint with healthcare professionals to establish our leading position in cannabinoid-derived medicines."
The five-year cumulative gross sales of REDUVO between 2022-to-2026 are expected to reach $121 million, according to Tetra Bio-Pharma.
“REDUVO will pave the way for the global drug launch of REDUVO Adversa in 2024, a dronabinol administered product through an innovative mucoadhesive tablet delivery system, including patent protection,” added the company.
Tetra noted that chemotherapy-induced nausea and vomiting is one of the most common side effects of chemotherapy treatment. Some studies indicate that untreated CINV can affect up to 70% to 80% of all people undergoing chemotherapy. Patients who poorly manage CINV may have a decreased quality of life.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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