TORONTO, Aug. 16, 2021 /CNW/ - HLS Therapeutics Inc. ("HLS" or the "Company") (TSX: HLS), a pharmaceutical company focusing on central nervous system ("CNS") and cardiovascular markets, announces that effective August 13, 2021 it has entered into a promotional services agreement (the "Agreement") with Pfizer Inc. ("Pfizer") for the promotion of Vascepa in Canada. Vascepa is a first-in-class treatment designed to reduce the risk of major adverse cardiac events (cardiovascular death, non-fatal myocardial infarction, non-fatal stroke, coronary revascularization or hospitalization for unstable angina) in statin-treated patients.
Under terms of the Agreement, Pfizer will deploy a team across Canada to support education about Vascepa with primary care physician ("PCP") groups. HLS's existing salesforce of approximately 30 field personnel and support staff will remain primarily focused on the specialist physician audience. HLS will retain responsibility over Vascepa's commercialization and will record all revenue related to Vascepa sales in Canada.
"We believe Vascepa has the potential to improve the lives of the many Canadians suffering from, or at risk of, cardiovascular disease and we look forward to collaborating with Pfizer to bring this innovative therapy to those in need," said Gilbert Godin, CEO at HLS. "While our cardiovascular sales team will continue to focus on specialists such as cardiologists and endocrinologists, this partnership will enable us to educate and efficiently expand interactions with a general physician audience that is 3-4 times larger. Ultimately, we believe this collaboration will benefit patients and physicians while at the same time strengthening the economic potential for the product and expanding the benefit to society."
"We look forward to building on the relationships HLS has established since the product's launch and to applying our experience in the cardiovascular market to educate primary care physicians about this medication," said James Sage, North America Regional President of Internal Medicine at Pfizer Inc. "Pfizer has a legacy in the area of cardiovascular disease as well as a strong track record of successful partnerships."
VASCEPA (icosapent ethyl) capsules are the first-and-only prescription treatment comprised solely of the active ingredient, icosapent ethyl, a unique form of eicosapentaenoic acid. Vascepa, which is included in the Canadian Cardiovascular Society's guidelines, was approved by Health Canada, was 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 plc (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 and its business. 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 pursuit of additional product and pipeline opportunities in certain therapeutic markets, statements regarding growth opportunities, expectations regarding financial performance, and the NCIB and ASPP. 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, 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 17, 2021 and Management's Discussion and Analysis dated August 4, 2021, both of which have been filed on SEDAR and can be accessed at www.sedar.com. 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.
SOURCE HLS Therapeutics Inc.