NEW YORK, Feb. 3, 2021
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NEW YORK, Feb. 3, 2021 /PRNewswire/ -- With the onset of a world health crisis, our seniors are at a greater risk than they were a decade ago. In addition, the growing senior population has tripled in size over the past 40 years. The elderly are at a higher risk of contracting diseases such as cancers, Parkinson's, diabetes, and arthritis, which has led to increased rates of these diseases. Fortunately, with the assistance of pharmaceutical companies, this vulnerable population can seek protection against such diseases. Pharmaceutical companies involved in products to help this aging population include Moderna Inc (NASDAQ: MRNA), BioDelivery Sciences International, Inc. (NASDAQ: BDSI), Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Trillium Therapeutics Inc (NASDAQ: TRIL) (TSX: TRIL), and Valeo Pharma Inc. (OTCQB:VPHIF) (CSE:VPH).
Valeo Pharma Inc. (CSE:VPH) (OTCQB:VPHIF), a Canadian pharmaceutical company, is involved in licensing a number of products that can be used to help the aging population. One way Valeo does this is through providing their products to healthcare professionals, so they can improve the quality of life for their patients. Because of Valeo's ability to get the product registered in-house and made available as quickly as possible, our senior population can be taken care of faster.
Valeo Pharma is recognized for its expertise in the field of neurodegenerative diseases, oncology, and hospital specialty products. The company has an array of pharmaceuticals on the market, including Onstryv and Benzotropine to treat Parkinson's disease. Onstryv launched as the first new oral medication approved for Parkinson's in Canada in over 14 years. Valeo has the exclusive rights to commercialize Onstryv.
In December 2020, Valeo Pharma also secured Health Canada approval of Redesca, a drug used to treat and prevent deep vein thrombosis and pulmonary embolism, another condition that can often affect the elderly. Redesca has over 8 years of proven in-market safety internationally, and has also treated more than 150 million patients in Europe.
"The regulatory approval of Redesca is a significant corporate milestone for Valeo and also great news for the Canadian healthcare system. Mandatory use of biosimilars is increasingly being adopted across the country and is expected to help provide significant savings to provincial healthcare plans," said Steve Saviuk, President and CEO of Valeo.
When Valeo reported its Q3 2020 results, its year-to-date net revenue came in at $5.3 million, which was affected, in part, by the restrictions resulting from COVID-19. However, Valeo expects the commercial launch of Redesca to have a positive impact on its revenue in the first half of 2021. The company forecasts Redesca to have annual peak sales of $30 million.
As another biotech company looking to make a difference in the care of the elderly, Moderna Inc. (NASDAQ: MRNA) recently launched the two shot mRNA vaccine against the novel coronavirus. Still unsure of the success of the vaccine against alternative strains of the virus, the company will begin general booster studies in March. Seniors and healthcare workers are first priority to receive the vaccine. For seniors, the mRNA sequence will focus on enabling cells to produce one or more proteins, which will lead to the body fighting or preventing a disease.
BioDelivery Sciences International, Inc. (NASDAQ:BDSI), a company specializing in pharmaceutical products primarily for pain management and addiction, saw an increase in sales after the release of their product, Belbuca, which treats severe pain. In 2020, Belbuca reached a record breaking prescription volume of 114,500 during the third quarter. This resulted in a 25% growth in prescription delivery for the company.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a company qualified in pharmaceutical drugs to treat cancer, autoimmune disease, neurological disorders, cystic fibrosis, and inflammatory bowel disease. Aside from this extensive list, Vertex Pharmaceuticals is well known for its discovery and treatment of the underlying cause of cystic fibrosis, the first company on the market to do so. The company completed its third quarter with a 62% increase in product revenue. Their net revenue was mainly led by their main product, Trikafta, a prescription medication used to treat cystic fibrosis.
Trillium Therapeutics Inc (TSX:TRIL) (NASDAQ:TRIL) has established itself on the basis of potential treatments for various cancers, including those related to hematologic malignancies and lymphoma or multiple myeloma. These cancers primarily affect the blood, the bone marrow, and lymph nodes. Trillium Therapeutics continues to work on the development of advanced cancer treatments.
Each of these companies are taking steps to help with the problems arising from an aging population. With the recent approval of Redesca by Health Canada and its growing portfolio of pharmaceuticals, Valeo Pharma (CSE:VPH) (OTCQB:VPHIF) is making a name for itself in this industry.
For more information on Valeo Pharma, please visit this link.
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