- Q4-2022 revenue guidance raised to a record $12.5M – $13.0M
- Fiscal 2022 revenue guidance increased to a record $27.5M – $28.0M
MONTREAL, QUEBEC , November 15, 2022 – Valeo Pharma Inc. (TSX:VPH, OTCQB: VPHIF, FSE: VP2) (“Valeo” or the “Company”), a Canadian pharmaceutical company, today announced that it has raised revenue guidance for its fourth quarter of 2022 to $12.5 – $13.0 million, an increase of 14% to 18% over previously issued guidance of $11 million. The Company is also increasing its fiscal 2022 revenue guidance to $27.5 – 28.0 million, a forecasted increase exceeding 100% compared to fiscal 2021 revenues of $13.6 million.
The quarterly and yearly revenue increases result from the continued growth of the two innovative asthma therapies Enerzair® Breezhaler® and Atectura® Breezhaler® and the low molecular weight heparin biosimilar REDESCA™, as well as the additional revenues generated in the fourth quarter by the recently added ophthalmology products XIIDRA®, SIMBRINZA®, and the epinephrine auto-injector ALLERJECT®.
“Our lead products have delivered the strong growth we forecasted for 2022. With a first full year of commercial activities for Enerzair and Atectura now completed, both products are generating strong sequential quarterly increases in the number of total prescribers, total prescriptions and revenues”, said Steve Saviuk, CEO. “The recent addition of our ophthalmic and severe allergy products in early August materially impacted our fourth quarter and we expect them to significantly contribute to our overall 2023 revenues as well”.
About Valeo Pharma Inc.
Valeo Pharma is a fast growing pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respirology/Allergy, Ophthalmology and Specialty Products. Headquartered in Kirkland, Quebec, Valeo Pharma has the full capability and complete infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.
Forward Looking Statements
This press release contains forward-looking statements about Valeo’s objectives, strategies and businesses that involve risks and uncertainties. These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.
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