Valeo Pharma Inc said it has successfully entered into a Product Listing Agreement (PLA) with the British Columbia Minister of Health for the listing and public reimbursement of Redesca and Redesca HP, its low molecular weight heparin (LMWH) biosimilar for the prevention and treatment of thromboembolic disorders.
As a result, both drugs have been added to the British Columbia PharmaCare list of medications.
The company also announced that its two innovative asthma therapies - Enerzair Breezhaler and Atectura Breezhaler - have also been accepted for public reimbursement by the Saskatchewan Drug Plan and the Prince Edward Island (PEI) Pharmacare Drug Plan. The public reimbursement is currently in effect in Saskatchewan, with the PEI listing taking effect on March 28, 2022.
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"We are very pleased to have secured public coverage for Redesca in British Columbia while its originator enoxaparin has been simultaneously delisted,” said Frederic Fasano, Valeo's president and chief operating officer, in a statement. “Our biosimilar is now covered in every province and it is already our best-selling drug. We anticipate further upside going forward now that it is publicly fully covered and that hospitals across the country are making the step to move to biosimilars LMWH.”
Fasano added: "Public reimbursement coverage for our two asthma drugs has also progressed rapidly and we now anticipate securing the remaining two provinces in the coming weeks. With our three lead drugs almost fully covered for public and private reimbursement in Canada, we are now confidently working towards increasing their respective market shares and positioning them as industry-leading medications in their respective therapeutic fields."
Public coverage in these jurisdictions also means that private payers that follow public plans will now cover these three drugs. Private coverage for Redesca, Enerzair, and Atectura now exceeds 90% of privately covered lives across Canada.
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