- With the addition of Alberta's public plan, Vascepa will be
available to more than 90% of Canadians who are eligible and
covered by a public or private plan.
TORONTO, July 29,
2024 /CNW/ - HLS Therapeutics Inc. ("HLS" or the
"Company") (TSX: HLS), a pharmaceutical company focusing on
addressing unmet needs in the treatment of psychiatric disorders
and cardiovascular disease, announces that it has entered into a
Product Listing Agreement ("PLA") with the province of Alberta, for the listing and public
reimbursement of Vascepa (icosapent ethyl). The PLA with Alberta
Health is effective August 1,
2024.
Under the terms of the PLA, Vascepa will be reimbursed as a
Special Authority product by Alberta Health for the secondary
prevention of cardiovascular events (cardiovascular death,
non-fatal myocardial infarction, non-fatal stroke, coronary
revascularization or hospitalization for unstable angina) in
statin-treated patients with established cardiovascular disease and
elevated triglycerides.
"The PLA with Alberta Health will significantly improve access
and reimbursement for Vascepa in Canada's fourth largest province," said
Craig Millian, CEO of HLS.
"Cardiovascular disease remains one of the leading causes of death
in Canada1, so we are
very pleased to now provide national coverage for Vascepa to more
than 90% of eligible Canadians covered by both public and private
plans."
Approximately 12% of all Canadians live in Alberta2. As disclosed previously,
HLS has achieved public reimbursement for Ontario, Quebec, British
Columbia, Saskatchewan,
New Brunswick, Northwest Territories, Veterans Affairs and
the NIHB program for First Nations and Inuit peoples.
ABOUT VASCEPA (ICOSAPENT ETHYL) CAPSULES
Vascepa capsules are the first-and-only prescription treatment
comprised solely of the active ingredient, icosapent ethyl (IPE), a
unique form of eicosapentaenoic acid. Vascepa was approved by
Health Canada and added to Health Canada's Register of
Innovative Drugs and benefits from data protection for a term of
eight years, as well as being the subject of multiple issued and
pending patents based on its unique clinical profile. HLS
in-licensed the exclusive rights to Vascepa for the Canadian market
from Amarin Corporation (NASDAQ:AMRN).
ABOUT HLS THERAPEUTICS INC.
Formed in 2015, HLS is a pharmaceutical company focused on the
acquisition and commercialization of late-stage development,
commercial stage promoted and established branded pharmaceutical
products in the North American markets. HLS's focus is on products
targeting the central nervous system and cardiovascular therapeutic
areas. HLS's management team is composed of seasoned pharmaceutical
executives with a strong track record of success in these
therapeutic areas and at managing products in each of these
lifecycle stages. For more information visit:
www.hlstherapeutics.com
FORWARD LOOKING INFORMATION
This release includes forward-looking statements regarding
HLS, its business and the DRI Healthcare transaction. Such
statements are based on the current expectations and views of
future events of HLS's management. In some cases the
forward-looking statements can be identified by words or phrases
such as "may", "will", "expect", "plan", "anticipate", "intend",
"potential", "estimate", "believe" or the negative of these terms,
or other similar expressions intended to identify forward-looking
statements, including, among others, statements with respect to
HLS's expectations regarding the transaction with DRI Healthcare
and the potential benefits to the Company resulting from the
transaction; the Company's use of the proceeds from the
transaction, including the potential benefits resulting from a
reduction in the principal outstanding on the Company's term loan;
potential growth opportunities, options for the productive use of
capital and HLS's expectations regarding future financial
performance. The forward-looking events and circumstances discussed
in this release may not occur and could differ materially as a
result of known and unknown risk factors and uncertainties
affecting HLS, including risks relating to the specialty
pharmaceutical industry, risks related to the regulatory approval
process, risks related to HLS' ability to realize the full value of
the transaction with DRI Healthcare, economic factors and many
other factors beyond the control of HLS. Forward-looking statements
and information by their nature are based on assumptions and
involve known and unknown risks, uncertainties and other factors
which may cause HLS's actual results, performance or achievements,
or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statement or information. Accordingly, readers
should not place undue reliance on any forward-looking statements
or information. A discussion of the material risks and assumptions
associated with this release can be found in the Company's Annual
Information Form dated March 13,
2024, and Management's Discussion and Analysis dated
May 8, 2024, both of which have been
filed on SEDAR and can be accessed at www.sedarplus.ca.
Accordingly, readers should not place undue reliance on any
forward-looking statements or information. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and HLS undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
REFERENCES
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https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1310039401
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https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710000901
SOURCE HLS Therapeutics Inc.