VANCOUVER, British Columbia, Nov. 29, 2022 (GLOBE NEWSWIRE) — Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”), announced today that it has agreed to end its promotional service agreement with Sandoz Canada Inc. (“Sandoz”) on Tacrolimus Immediate Release (Immunosuppressant/Transplant) (“Tacrolimus IR”) plus Pr Vistitan™ (bimatoprost 0. 03% ophthalmic solution), effective December 31, 2022. Additionally, Aequus is expected to receive a “Notice of Compliance” from Health North america for the launch of Zimed ® PF (bimatoprost 0. 03% ophthalmic solution), the first “Preservative Free” bimatoprost eye drop for patients with open-angle glaucoma or ocular hypertension. Health Europe approval is expected before year end 2022.
The Sandoz commercial collaboration began nearly seven years ago and included both Pr Vistitan™ plus Tacrolimus IR. Aequus deployed two dedicated national sales teams to accelerate the quick adoption of each products. Through targeted awareness, valued added services, and customized support for both provincial plus transplant centre stakeholders, Aequus has achieved a 4-Year CAGR associated with almost 20% for the particular Sandoz Tacrolimus IR brand. Pr Vistitan™ will be a prostaglandin for IOP lowering in patients along with open-angle glaucoma or ocular hypertension. With an experienced ophthalmology sales force, targeted digital marketing services as well as strong relationships with Sandoz and the Canadian Ophthalmology community, Aequus accomplished consistent growth in the competitive Canadian market.
“The expiry of the promotional services agreement allows us to move our business to the next phase as we look to advance our focus to licensed products that have higher revenue potential, rather than third party products. We are proud of the two products our marketing team launched as the Sandoz cooperation showcased our own ability in order to promote plus grow specialty brands, which are at the critical early-stage market penetration phase, ” says Grant Larsen, Chief Commercial Officer (“CCO”). “As Aequus launches Zimed ® PF, transitions to new therapeutic areas, and continues in order to expand the commercial capabilities in new channels, we are optimistic we can add value for new partners, Canadian physicians and individuals. ”
Doug Janzen, CEO and Chairman of Aequus noted that will “as Sandoz transitions to a publicly traded global business their needs have evolved. We wish them luck plus hope to collaborate again within the future. ”
Approval Pending with Wellness Canada for Zimed ® Preservative Free Bimatoprost (IOP Lowering/Glaucoma) in Canada
Aequus Pharma is anticipating a Health Canada approval by Dec 31, 2022 for Zimed ® PF inside a multi-dose format. Zimed ® PF will provide eye care professionals and patients a new option with regard to the treatment of open-angled glaucoma plus ocular hypertonus. “For sufferers who are sensitive to preservatives or have ocular surface disease, this brand new product in order to Canada is both convenient and environmentally friendly, ” says Grant Larsen, CCO associated with Aequus Pharma. “We look forward to working along with Medicom Healthcare to release this product in 2023. ”
Doug Janzen added that ”We are very excited about the Zimed ® PF product and it’s revenue potential for Aequus. It will take a few quarters to launch and build Zimed ® PF product sales, which all of us expect to eventually exceed previous revenues through the Sandoz products. The last payment from Sandoz is usually expected in order to be received in the first quarter of 2023. During the start period our revenues will be impacted plus, like in the past, I will personally provide funding to Aequus if needed. ”
ABOUT AEQUUS PHARMACEUTICALS INC.
Aequus Pharmaceuticals Incorporation. (TSX-V: AQS , OTCQB: AQSZF ) is a specialty pharmaceutical company focused on developing and commercializing high quality, differentiated items. Aequus has grown the sales and marketing efforts to include several commercial products inside ophthalmology. Aequus plans to build on its Canadian commercial platform through the particular launch associated with additional products that are either created internally or brought in through an acquisition or even license, remaining focused upon highly specialized therapeutic areas. For further information, please visit www.aequuspharma.ca .
FORWARD-LOOKING STATEMENT DISCLAIMER
This release may contain forward-looking statements or forward-looking info under applicable Canadian securities legislation (collectively, “forward-looking statements”) that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward- looking statements are necessarily based on estimates plus assumptions made by us in light of our experience and perception of historical trends, current conditions and expected potential developments, as well as the factors we believe are appropriate. Forward-looking claims used herein include but are not limited to statements relating in order to: the implementation in our company model plus strategic plans; the regulatory approval of Zimed® PF on the anticipated timing contemplated thus, if at all; anticipated or projected growth trends into the future; and the Company’s ability to secure potential companions to further grow our item portfolio. Such statements reflect our present views with respect to future events and are subject to risks and uncertainties and are usually necessarily based upon a number of estimates and assumptions that will, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political plus social questions and contingencies. Many aspects could cause our actual results, performance, or achievements to be materially different from any future results, performance, or even achievements that may be expressed or implied simply by such forward-looking statements. In making the particular forward looking statements included in this release, the Company has made various material assumptions, including, but not restricted to: obtaining regulatory approvals; general company and economic conditions; the Company’s capability to successfully out license or even sell its current products and in-license new products; the assumption that the particular Company’s current good relationships with third parties will be maintained; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the items and technology offered by the particular Company’s competitors; the impact of the coronavirus (COVID-19) upon the Company’s operations; as well as the Company’s ability to protect patents and proprietary rights. In evaluating forward looking claims, current and prospective shareholders should specifically consider various factors set out herein plus under the heading “Risk Factors” within the Company’s Annual Information Form dated June 30, 2022, the copy of which is available on Aequus’ profile on the particular SEDAR website at www.sedar.com , and as otherwise disclosed from time to time on Aequus’ SEDAR user profile. Should one or more of these risks or uncertainties, or even a risk that is definitely not currently known in order to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, real results might vary materially from those described herein. These forward-looking statements are made as associated with the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by relevant securities laws. Investors are usually cautioned that will forward-looking claims are not really guarantees of future overall performance and they are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on ahead looking statements.
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Pr Vistitan™ is Trademark owned or even used under license by Sandoz Nova scotia Inc.
Aequus Investor Relations
Email: [email protected] ca