- Private payer health plan coverage in Canada for Vascepa is expected to reach more
than 80% by the end of February 2021,
up from 50% in November
2020
- Coverage effective for statin-treated patients with
elevated triglycerides, who are at high risk of cardiovascular
events due to established cardiovascular disease, or diabetics with
risk factors
- Active negotiations have also begun with the pan-Canadian
Pharmaceutical Alliance (pCPA) for reimbursement of Vascepa by
publicly funded health plans
TORONTO, Feb. 16, 2021 /CNW/ - HLS Therapeutics Inc.
("HLS" or the "Company") (TSX: HLS), a specialty pharmaceutical
company focusing on central nervous system and cardiovascular
markets, expects that by the end of February
2021, private payer health plans covering more than 80% of
the privately insured lives in Canada will have agreed to provide
reimbursement for Vascepa.
Vascepa is approved for use in Canada to reduce the risk of cardiovascular
events (cardiovascular death, non-fatal myocardial infarction,
non-fatal stroke, coronary revascularization or hospitalization for
unstable angina) in statin-treated patients with elevated
triglycerides, who are at high risk of cardiovascular events due to
established cardiovascular disease, or diabetes, and at least one
other cardiovascular risk factor.
"In a little more than a year since Vascepa's approval by Health
Canada, we will have reached reimbursement levels for the drug for
the vast majority of all privately covered lives in Canada," said Gilbert
Godin, CEO of HLS. "Vascepa reduces the risk of major
cardiac events for which no other drug is currently indicated in
this patient population in Canada
and it is supported by substantial evidence of clinical
effectiveness. We believe these product attributes helped us to
achieve this high level of private payer coverage in such a brief
timeframe, with the majority of the discussions having taken place
during the COVID-19 pandemic."
Mr. Godin continued: "On the public payer side, we have recently
begun discussions with the pCPA and we will work diligently to
achieve provincial coverage as quickly as possible."
ABOUT VASCEPA (ICOSAPENT ETHYL) CAPSULES
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 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 (NASDAQ:AMRN).
ABOUT HLS THERAPEUTICS INC.
Formed in 2015, HLS is a specialty 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, please 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 and expectations regarding 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, 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 18, 2020 and Management's
Discussion and Analysis dated November 4,
2020, 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.