Valeo Pharma Obtains Public Reimbursement for Onstryv® in Quebec
- Quebec public reimbursement coverage to facilitate and expand medication access for Parkinson’s patients in Quebec
February 7, 2023 (Source) – Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE: VP2) (“Valeo” or the “Company“), a Canadian pharmaceutical company, today announced that Onstryv® (safinamide) for the treatment of patients suffering from Parkinson’s disease, is now listed for public reimbursement on the Public Prescription Drug Insurance Plan of the Quebec Régie de l’assurance maladie du Québec (“RAMQ”), effective February 1, 2023.
Onstryv® is approved by Health Canada as an add-on therapy to a regimen that includes levodopa for the treatment of the signs and symptoms of idiopathic Parkinson’s Disease in patients experiencing “off” episodes. Onstryvâ is a prescription medication available at pharmacies across Canada in 50mg and 100mg tablets.
“Securing public reimbursement coverage is an important milestone for the commercialization of Onstryv in Quebec”, said Steve Saviuk, Chief Executive Officer “Onstryv reimbursement coverage by the RAMQ will play a significant role in facilitating and expanding access to one of the few new treatments for Parkinson approved in Canada in well over a decade.”
Parkinson’s Disease is a progressive neurological disease involving the loss of dopamine producing neurons in the brain. While tremors are the best known symptom, Parkinson’s Disease also causes other symptoms including slowed movement, rigid muscles, impaired posture and balance, speech and writing difficulties. On a per capita basis, Canada has amongst the highest incidences of Parkinson’s Disease in the world and the number of patients is expected to grow significantly over the next thirty years as the median population age increases.
About Onstryv® (safinamide)
Safinamide, known as Onstryv® in Canada and Xadago® in the rest of the world, is a chemical entity with a unique mode of action including selective and reversible MAO-B inhibition. Clinical trials have established its efficacy in controlling motor symptoms and motor complications in the short term, maintaining this effect over 2 years. Results from 24 month double-blind controlled studies suggest that safinamide shows statistically significant effects on motor fluctuations (ON/OFF time) without increasing the risk of developing troublesome dyskinesia. Onstryv® is a once-daily dose and has no diet restrictions due to its high MAO-B/MAO-A selectivity.
About Valeo Pharma
Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory/Allergy, Ophthalmology and Hospital Specialty Products. Headquartered in Kirkland, Quebec Valeo Pharma has all the necessary capabilities and a complete infrastructure to register and manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.
Forward Looking Statements
This press release contains forward-looking statements about Valeo’s objectives, strategies and businesses that involve risks and uncertainties. These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.
SOURCE Valeo Pharma Inc.
For further information: Steve Saviuk, CEO, 514-693-8830, firstname.lastname@example.org or Frederic Dumais, Director, Communications and Investor Relations, 514-693-8847, email@example.com