Valeo Pharma’s (VPH.C) low molecular weight heparin (LMWH) drug, Redesca and Redesca HP, is now eligible for public reimbursement in seven provinces and territories across Canada, as well as increased availability to governmental agencies and 70% covered for private payer health plans.
If you’re from Canada then you can skip right onto the quote because you know all of this stuff. If you’re American, then this paragraph’s for you. It’s true we Canucks have universal healthcare and all that entails, but what you may not know is that we still get shafted (just like you!) when it comes to pharmaceuticals. So our universal healthcare handles the hospital or doctor visit, the diagnosis, and quite a few different types of treatments, but if your diagnosis involves a pharmacy visit, then we’d best be prepare to bow and scrape financially before the might of the pharmaceutical companies.
Most Canadians have options. Many of my friends and relatives get a certain percentage of coverage for their medicinal needs, often with a respectable sized deductible. If you don’t qualify, though, the toll paid can be heavy. Reimbursement is a boon not all Canadians enjoy.
“We are very pleased to have secured public reimbursement coverage for Redesca by a majority of provinces across the country and to be in advanced discussion stages for the remaining provinces. Reimbursement coverage is always a key component of any commercialization strategy in healthcare industry and we are executing according to plan with regards to our Redesca program,” said Frederic Fasano, Valeo’s president and chief operating officer.
Valeo Pharma is a Canadian pharmaceutical company located in Kirkland, Quebec, involved in putting drugs on shelves dealing with respiratory diseases (asthma), neurodegenerative diseases (Alzheimers), oncology (cancer), and hospital specialty products.
But what is Redesca
LMWH are anticoagulant drugs used to both treat and prevent nasty effects like deep vein thrombosis and pulmonary embolism. Redesca has been used for more than eight years internationally with more than 150 million patient days treated in Europe alone.
A deep vein thrombosis is when a blood clot forms in a deep vein. This happens usually in the legs or pelvis, with about 4-10% happening in the arms. Symptoms include pain, swelling, redness and enlarged veins in the affected area, but some come without symptoms. These can be life threatening due to the potential for the clot to detach from the veins (embolize), and travel tot he right side of the heart, to get lodged in a pulmonary artery that supplies blood to the lungs causing what’s called a pulmonary embolism.
“As one of our three transformative products recently launched, Redesca has already started materially impacting our financial performance. Given the positive feedback gathered from the field by our dedicated team, we are confident to see Redesca continue to grow rapidly and help us deliver on its clinical ans medical values, going forward,” said Fasano.
Canadian provinces, territories and governmental agencies presently covering Redesca and Redesca HP include Alberta, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland, Northwest Territories, Non Insured Health Benefits for registered First Nations and recognized Inuit and Veterans Affairs Canada. Public reimbursement coverage in the remaining provinces is anticipated by the end of the year.