Steve Saviuk of Valeo Pharma talks about acquiring new therapeutic drugs and record Q3 revenue
In this interview, InvestorIntel Publisher and Editor in Chief Stephen Lautens talks to Valeo Pharma Inc.’s (TSX: VPH | OTCQB: VPHIF) Founder, CEO and Director Steve Saviuk about Valeoi’s record Q3 revenue and the addition of three new therapeutic drugs to its portfolio.
In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here to access InvestorChannel.com), Steve discusses Valeo’s acquisition of two opthalmic therapies from Novartis Pharmaceuticals under a commericalization agreement, as well as a new license with Kaleo Inc. for an auto-injector for serious allergic reactions. These three additional Health Canada approved products, Steve says, “are accretive immediately to us. The three products had existing revenues of $27 million, and we expect that to grow so our total revenue base basically doubled on the day that we made that acquisition.”
Steve also discusses Valeo’s record Q3 revenues of $6.1 million from sales ($15.1 million YTD), and Valeo’s cash position of over $27 million. Steve says that “those are trends that we expect to see continue.” He also says that with the recent hiring of former Novartis VP Kyle Steiger as Senior VP of Valeo, and the expansion of its sales team to 80-85 people, Valeo is poised for rapid commercial and revenue growth.
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About Valeo Pharma
Valeo Pharma is a 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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