logo-loader

Valeo Pharma rapidly advancing in bid to become leading Canada-focused specialty pharma group

Last updated: 11:49 18 Mar 2024 EDT, First published: 10:30 15 Dec 2021 EST

Snapshot

  • Valeo Pharma sees 1Q revenue increase on strong performance from respiratory division
  • Valeo Pharma Q1 numbers shows asthma product revenues increasing by 58%
Valeo Pharma Inc. -

About the company

Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Neurodegenerative Diseases, Oncology and Hospital Specialty Products. Headquartered in Kirkland, Quebec, Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization.

How it is doing

15 Mar 2024

Canadian pharmaceutical company Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) reported a 3% increase in first quarter revenue compared to the same period in the previous year driven by strong sales from its respiratory business unit.

For the first quarter ending January 31, 2024, Valeo saw revenue of $13.5 million as prescriptions of its Total Enerzair and Atectura products surged 130% compared to the previous 12-month period to reach 78,000.

Commenting on the results, Steve Saviuk, CEO of Valeo Pharma, emphasized the company's return to revenue growth momentum in Q1 2024. He attributed this growth to the strong performance of the respiratory business unit, with asthma product revenues soaring by 58% compared to the previous quarter.

"Valeo has embarked on a number of initiatives as it drives towards positive cashflow with our previously announced operational cost savings having greater impact from Q2 2024 onwards,” Saviuk said in a statement.

13 Feb 2024

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) announced a boardroom reshuffle that includes the addition of two new members and the departure of four.

Robert Raich and Charles Bisaillon have joined as directors, bringing with them significant senior-level experience.

05 Feb 2024

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has unveiled changes to a seven-year agreement with Novartis Pharmaceuticals for the distribution of its eye treatment.

Xiidra, a treatment for dry eye, will be distributed by Valeo until late this year, rather than for an initially agreed seven-year term, following Bausch and Lomb’s acquisition of the brand from Novartis in September.

What management says

18 Mar 2024

Valeo Pharma CEO Steve Saviuk joined Steve Darling from Proactive to discuss the company's financial results for the first quarter ended January 31, 2024. Valeo Pharma reported revenues of $13.5 million in Q1-24, compared to $13.1 million in Q1-23 and $13.1 million in Q4-23, representing a 3% increase. The company recorded an adjusted gross profit of $3.9 million in Q1-24, similar to the figure in Q1-23, and a significant increase from $2.1 million in Q4-23, marking an 81% rise.

Saviuk told Proactive the number of prescribing physicians for Valeo Pharma's Enerzair and Atectura reached 3,472 by the end of Q1-24, reflecting a notable 17% growth for the quarter and a remarkable 119% increase year-over-year. Saviuk expressed confidence that Valeo Pharma's major promoted brands, including Enerzair, Simbrinza, and Redesca, will contribute increasingly to revenue growth in the upcoming quarters, accompanied by greater margin contribution. Valeo Pharma has initiated several measures aimed at achieving positive cash flow, with operational cost savings expected to have a more significant impact from Q2-24 onwards. These results indicate a positive trajectory for Valeo Pharma, driven by robust revenue performance, expanding physician adoption of key products, and strategic initiatives aimed at enhancing profitability and cash flow generation.

Valeo Pharma Q1 numbers shows asthma product revenues increasing by 58%

Valeo Pharma CEO Steve Saviuk joined Steve Darling from Proactive to discuss the company's financial results for the first quarter ended January 31, 2024. Valeo Pharma reported revenues of $13.5 million in Q1-24, compared to $13.1 million in Q1-23 and $13.1 million in Q4-23, representing a 3%...

20 hours, 6 minutes ago