HLS Announces Reimbursement for Vascepa® under Alberta's Provincial Drug Plan
- 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
- https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1310039401
- https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710000901
SOURCE HLS Therapeutics Inc.
View original content: http://www.newswire.ca/en/releases/archive/July2024/29/c4739.html