Canada NewsWire
MONTREAL, Sept. 25, 2019
MONTREAL, Sept. 25, 2019 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH) (the "Company" or "Valeo"), a Canadian specialty pharmaceutical company focused on Neurodegenerative Diseases, Oncology and Hospital Specialty Products, today reported its financial results for the third quarter ended July 31, 2019.
2019 Third Quarter Financial and Business Highlights
"Two significant corporate milestones related to our growth strategy were successfully achieved during the third quarter of 2019. The first shipments of Onstryv® confirmed the pre-launch interest we saw from all channels, while the signing of an exclusive agreement for a heparin biosimilar will allow us to effectively target a significant commercial market opportunity", said Steve Saviuk, President and Chief Executive Officer of Valeo Pharma Inc. "We have set ambitious growth objectives for the Company and are confident in our abilities to deliver according to plan. Quality products such as Onstryv® and our heparin biosimilar will play a key role in achieving those objectives".
Commenting on the 2019 third quarter financial results, Luc Mainville, Sr. Vice-President and Chief Financial Officer said: "As expected, the launch of Onstryv® and other new products are having a significant impact on both our revenues and margins. Our revenues and profitability going forward will continue to benefit from the impact of more product launches starting with Ondansetron ODT and Benztropine for injection in the last quarter of our current fiscal year".
Financial Statements and MD&A
Valeo Pharma's financial statements and Management's Discussion and Analysis for the three-month and nine-month periods ending July 31, 2019 are available on SEDAR at www.sedar.com
About Valeo Pharma
Valeo Pharma is a specialty pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada. With a focus on Neurodegenerative Diseases, Oncology, Women's Health and Hospital Specialty Products, Valeo Pharma has a growing portfolio of innovative products and the full infrastructure to properly manage these products through all stages of commercialization. Headquartered in Kirkland, Quebec, Valeo Pharma has all capabilities internally to register and market health care solutions for Canadian patients. For more information, please visit http://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.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Valeo Pharma inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2019/25/c0465.html