Medexus Reports Triamcinolone Hexacetonide Injectable Suspension Approved for Inclusion on Quebec’s RAMQ List of Medications (Basic Plan and Institutions)
MONTREAL, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Medexus Pharmaceuticals Inc. (the “Company” or “Medexus”) (TSXV: MDP, OTCQX: MEDXF) is pleased to announce that Triamcinolone Hexacetonide Injectable Suspension 20 mg/mL (TH) has been approved for inclusion as a general benefit (open listing) on the List of Medications - Basic Plan and the List of Medications - Institutions administered by the Régie de l’assurance maladie du Québec (RAMQ), effective August 19, 2020. The Institut national d'excellence en santé et en services sociaux (INESSS), Quebec’s Health Technology Assessment Agency, recommended to the Minister of Health and Social Services to have TH listed on the List of Medications covered by the basic prescription drug insurance plan and the List of Medications – Institutions which includes hospitals with no restrictions on reimbursement. 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, “We are pleased about the addition of TH to the public drug plan formularies in Quebec and look forward to advancing the commercial rollout of TH in additional provinces across Canada over the coming months. With the inclusion of our TH on RAMQ’s List of Medications, we are able to access a large group of children and adult patients suffering from debilitating forms of joint disease, who previously could not get the product due to a long-standing shortage of TH in Canada. We believe TH will transform the treatment of many subacute and chronic inflammatory joint diseases as it provides a longer duration of action, with fewer injections, compared to other corticosteroid injections and intra-articular steroids. By reducing the number of injections, TH offers a safer and more cost-effective solution, thereby reducing the number of hospital visits, which is particularly important in the current COVID-19 environment.”
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.
For more information, please contact:
Ken d’Entremont, Chief Executive Officer
Medexus Pharmaceuticals Inc.
Roland Boivin, Chief Financial Officer
Medexus Pharmaceuticals Inc.
Tel.: 514-762-2626 ext. 202
Investor Relations (U.S.):
Crescendo Communications, LLC
Investor Relations (Canada):
Direct Financial Strategies and Communication Inc.
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Forward Looking Statements
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.
Released August 24, 2020