MONTREAL, July 09, 2020 (GLOBE NEWSWIRE) -- Medexus Pharmaceuticals Inc. (the “Company” or “Medexus”) (TSXV: MDP, OTCQB: PDDPF) is pleased to announce that Triamcinolone Hexacetonide Injectable Suspension 20 mg/mL (TH) has been approved for inclusion on the Alberta Drug Benefit List (ADBL), the Saskatchewan Drug Plan, the Newfoundland and Labrador Prescription Drug Program (NLPDP) and the Yukon Drug Formulary for the treatment of Juvenile Idiopathic Arthritis (JIA). TH has also been approved for inclusion on the Ontario Drug Benefit Formulary/Comparative Drug Index (ODB Formulary/CDI) and the Non-Insured Health Benefits – Drug Benefit List for its full Health Canada-approved indication which includes approved use in both adults and adolescents. TH is the longest acting corticosteroid for intra-articular injection, often lasting twice as long as comparator products.
Ken d’Entremont, Chief Executive Officer of Medexus, commented, “The inclusion of our TH on these public drug plan formularies in Canada enhances the accessibility of this therapy for pediatric and adult patients suffering from chronic inflammatory diseases including JIA and RA. Previously, both younger and adult patients with subacute and chronic inflammatory joint diseases have had difficulty getting TH due to a long-standing shortage of Triamcinolone Hexacetonide in Canada. We look forward to advancing the commercial rollout of our TH in additional provinces across Canada. Moreover, we believe our formulation has the potential to become the standard of care for the treatment of many severe joint diseases, as it significantly impacts the safety and cost-effectiveness of treatment by providing longer duration of action, with fewer injections, compared to other corticosteroid injections and intra-articular steroids. The longer duration of TH is also noteworthy in the current COVID-19 healthcare environment where patient visits to hospitals should be reduced and focused on urgent patient needs.”
Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform. The Company’s vision is to provide the best healthcare products to healthcare professionals and patients, through our core values of Quality, Innovation, Customer Service and Teamwork. Medexus Pharmaceuticals is focused on the therapeutic areas of auto-immune disease, hematology and allergy. The Company’s leading products are: Rasuvo™ and Metoject®, a unique formulation of methotrexate (auto-pen and pre-filled syringe) designed to treat rheumatoid arthritis and other auto-immune diseases; IXINITY®, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with Hemophilia B – a hereditary bleeding disorder characterized by a deficiency of clotting factor IX in the blood, which is necessary to control bleeding; and Rupall®, an innovative allergy medication with a unique mode of action.
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Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). The words “anticipates”, “believes”, “expects”, “will”, “plans” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements contained in this news release include, but are not limited to, statements with respect to future business operations, the timing of regulatory applications and approvals and the efficacy and success of certain drug therapies. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors include those set out in the Company's most recent MD&A; future capital requirements and dilution; intellectual property protection and infringement risks; competition (including potential for generic competition); reliance on key management personnel; the Company’s ability to implement its business plan; the Company’s ability to leverage its United States and Canadian infrastructure to promote additional growth, including with respect to the infrastructure of Medexus Inc. and Medac Pharma, Inc. and the potential benefits the Company expects to derive therefrom;, regulatory approval by the Canadian health authorities; product reimbursement by third party payers; patent litigation or patent expiry; litigation risk; stock price volatility; government regulation; and potential third party claims. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.