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Valeo Pharma Reports its Third Quarter 2020 Results and Highlights


MONTREAL, Sept. 29, 2020 /CNW/ - Valeo Pharma Inc. (CSE: VPH) (OTCQB: VPHIF) (FSE: VP2) ("Valeo" or the "Company"), a Canadian specialty pharmaceutical company, today reported its financial results for the third quarter ended July 31, 2020.

"Our third quarter revenues were impacted to some extent by the restrictions brought upon by Covid-19 as well as the impact from adjustments relating to prior periods. We are seeing revenues returning to an uptrend with the recent launch of Ametoptm in the last few weeks of the quarter and the launch of Yondelis® at the beginning of the fourth quarter, together representing 13% of our fourth quarter sales to date. HesperCotm and Ethacrynate Sodium (U.S.) are scheduled to launch in the fourth quarter driving revenues and profitability going forward", said Steve Saviuk, President and Chief Executive Officer. "We have high expectations for HesperCotm, which will be launched nationally in the coming weeks, as the immune support it provides is needed in the current healthcare environment. We continue interacting with Health Canada in the review of Redesca ( Low Molecular Weight Heparin biosimilar) and are preparing for an early 2021 launch pending its expected approval ".

Commenting on the third quarter 2020 results, Luc Mainville, Senior Vice-President and Chief Financial Officer said, "During the quarter, we continued to set the stage for exiting FY-20 as a profitable EBITDA company. While revenues will be favourably impacted in the short and medium term through our product launches and organic sales growth, we continue to implement initiatives to improve our product mix and the margins derived therefrom and retain proactive measures to constantly streamline expenses by assessing our operations and eliminating non-core obligations without sacrificing our growth strategy".

"The third quarter was very much in line with the second quarter after taking into consideration the non-recurrent nature of a number of items impacting our third quarter. We expect to see key operational metrics continuing their improvement and positioning Valeo to exit Q4-2020 as a profitable EBITDA company", added Mr. Mainville.

Third Quarter 2020 Financial Results and Highlights

Year to Date 2020 Financial Results

Third Quarter 2020 Business and Product Highlights     

Third Quarter 2020 Subsequent Events

Financial Statements and MD&A

Valeo Pharma's financial statements and Management's Discussion and Analysis for the three-month and nine-month periods ended July 31, 2020 are available on SEDAR at www.sedar.com

About Valeo Pharma

Valeo Pharma is a specialty 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. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Valeo Pharma Inc.


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