Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has raised its revenue guidance for the fourth quarter of 2022 by 14%-18% to a record $12.5-$13.0 million, and its fiscal 2022 revenue guidance to $27.5-$28.0 million, also a record and more than double the actual 2021 revenue of $13.6 million.
The higher guidance is spurred by the continued growth of its asthma therapies Enerzair Breezhaler and Atectura Breezhaler and the low molecular weight heparin biosimilar REDESCA, as well as the additional revenues generated in the fourth quarter by the recently-added ophthalmology products XIIDRA, SIMBRINZA, and the epinephrine auto-injector ALLERJECT, the pharmaceutical company said.
"Our lead products have delivered the strong growth we forecasted for 2022. With a first full year of commercial activities for Enerzair and Atectura now completed, both products are generating strong sequential quarterly increases in the number of total prescribers, total prescriptions and revenues," said Steve Saviuk, Valeo Pharma’s CEO in a statement.
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"The recent addition of our ophthalmic and severe allergy products in early August materially impacted our fourth quarter and we expect them to significantly contribute to our overall 2023 revenues as well,” he added.
Valeo Pharma is a fast-growing pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respirology/Allergy, Ophthalmology and Specialty Products.
Headquartered in Kirkland, Quebec, Valeo Pharma has the full capability and complete infrastructure to register and properly manage its growing product portfolio through all stages of commercialization.
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