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Valeo Pharma adds chief development officer to drive growth initiatives

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) announced that Al Moghaddam will be taking up the newly created role of chief development officer and, as a result will be stepping down from the company's board of directors. The Canadian pharmaceutical company said that as CDO, Moghaddam will lead the design and implementation of strategies to identify and negotiate with financial parties to strengthen its capital structure.

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Valeo Pharma sees record 2Q revenue boosted by respiratory products and core brand growth

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) saw revenue for the second quarter of 2024 increase primarily driven by successful promotional activities for respiratory products, increased sales of Allerject, and continued growth in other core products like Redesca and Simbrinza. In its 2Q financial statement, the Canadian pharmaceutical company posted revenues of $14.1 million, up 4% from $13.6 million in the same year-ago period.

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Valeo Pharma restructures field operations to save over $5m annually

Valeo Pharma Inc said it has launched a restructuring of its field sales operations, taking cost-cutting to more than $7 million a year, including other recent measures. The latest initiative, which includes a 20% reduction of the workforce, aims to improve margins, reduce operating expenses, and accelerate the company's path to profitability.

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Valeo Pharma taps life sciences leader for board position

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has announced the appointment of Al Moghaddam to its board of directors. The Kirkland, Quebec-based pharmaceutical company highlighted that Moghaddam brings more than 25 years of global experience as a customer-centric transformational life sciences leader to the board.

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Valeo Pharma sees 1Q revenue increase on strong performance from respiratory division

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.

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Valeo Pharma unveils boardroom reshuffle

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.

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Valeo Pharma amends Novartis eye treatment distribution agreement

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.

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Valeo Pharma achieves record revenues for fiscal 2023

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has reported record revenues of $54 million for fiscal 2023, representing a 94% year-over-year increase driven by increased demand for its prescription products. The Canadian pharmaceutical company also posted a record adjusted gross profit of $16.9 million for the year, up 80% from $9.4 million in 2022.

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Valeo Pharma announces cost-reduction initiatives as it welcomes new CFO

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) told investors it expects to cut its operating expenses by more than $2 million a year by streamlining its organizational structure and commercial support activities. The series of initiatives are aimed at driving operational efficiency as it moves towards profitability, the company said in a statement.

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Valeo Pharma welcomes Richard Lajoie to board of directors

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) said Richard Lajoie has joined its board of directors while Maureen C. Brennan has retired from the board.

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Valeo Pharma CEO credits Enerzair for strong position on Canada's top-growing companies list

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) CEO Steve Saviuk joined Proactive's Stephen Gunnion to discuss the company's strong position on the Globe and Mail's Report on Business annual list of Canada's top-growing companies. The company placed 151 out of 425 companies, with a three-year growth rate of 322%.

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Valeo Pharma secures spot on Canada's top-growing companies list

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) highlighted to investors that it has placed at spot 151 on the Globe and Mail's Report on Business annual list of Canada's top-growing companies. The company said it placed 151st out of 425 companies with a three-year growth rate of 322%.

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Valeo Pharma secures $5M credit facility agreement with Accord Financial

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) told investors it has entered into a $5 million credit facility with Accord Financial (TSX:ACD) which it said provides it with additional financial liquidity and increased flexibility to support its long-term growth strategy. The pharmaceutical company noted that the credit facility is secured by a first-rank lien on its short-term assets, and bears interest at the Scotiabank (TSX:BNS)'s prime rate plus an applicable margin.

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Valeo Pharma reports record quarterly revenue or strong demand for Enerzair and Atectura therapies

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has reported its seventh consecutive rise in revenues to a quarterly record due to strong growth in its Enerzair and Atectura asthma therapies. The Canadian pharmaceutical company posted a 132% increase in revenue to $14.1 million for the third quarter of its financial year, with Enerzair and Acetura up 234%.

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Valeo Pharma raises funds totalling $4.5M

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has closed a non-brokered private placement offering, raising gross proceeds of $3.92 million. The company also secured a loan agreement with a related party for $580,000 at an interest rate of 12%, taking the amount of funds raised to $4.5 million.

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Valeo Pharma bolsters board with two new directors

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) said Tamara Close and Didier Leconte have both joined its board of directors, noting that following the appointments, Valeo's board now comprises of eight directors, five of whom are independent. "We are pleased to welcome Tamara and Didier to the Valeo Board of Directors.

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Valeo Pharma reports record quarterly revenues

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has reported record quarterly revenues of $13.6 million for its second quarter ending April 30, 2023, representing a substantial increase of 184% compared to the same period last year. The growth was primarily driven by the success of Enerzair and Atecura, which experienced a remarkable surge of 271% in revenues.

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Valeo Pharma expects 2Q revenues to set quarterly record

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) said it expects revenues in the second quarter to exceed $13.5 million, a quarterly record, with operating expenses seen remaining in line with previous quarters. In a release ahead of its second-quarter results, the Canadian pharmaceutical company said that based on currently available information, it expects its adjusted loss before interest, taxes, depreciation, and amortization (EBITDA loss) to drop below $2.0 million in the second quarter, marking a sixth consecutive quarter of loss reduction.

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Valeo Pharma reports record 1Q revenue and gross profit buoyed by new products and higher market share

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) said its revenue for the first quarter ended January 31, 2023, rose by 210% to a record $13.2 million, up from $4.2 million in the corresponding period of 2022, thanks to the inclusion of new products and the market share gained by its core products. Adjusted gross profit came in at $4.2 million compared to $1.5 million in Q1-22, a 178% increase, the Canadian pharmaceutical company said.

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Valeo Pharma obtains public reimbursement for Onstryv in Quebec expanding access to the drug for Parkinson's patients

Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) said Onstryv (safinamide) for the treatment of patients with Parkinson's disease is now listed for reimbursement on the Public Prescription Drug Insurance Plan of the Quebec Régie de l'assurance maladie du Québec (RAMQ). The company noted that 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.

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