- Public reimbursement for Vascepa is now available in
Ontario, Quebec, British
Columbia, Saskatchewan,
New Brunswick, Northwest Territories, Veterans Affairs and
for the Non-Insured Health Benefits (NIHB) program for First
Nations and Inuit peoples.
- Approximately 14% of all Canadians live in British Columbia1.
- Pacific Blue Cross, British
Columbia's largest private health plan, also expected to
reimburse Vascepa starting in February.
TORONTO, Feb. 6, 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 British
Columbia ("BC"), for the listing and public reimbursement of
Vascepa (icosapent ethyl). The PLA with BC PharmaCare is effective
February 6, 2024.
Under the terms of the PLA, Vascepa will be reimbursed as a
Special Authority product by BC PharmaCare 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 BC PharmaCare also paves the way for Vascepa to be
reimbursed by Pacific Blue Cross, which provides healthcare
benefits for approximately 40%2 of the privately insured
lives in BC. The Pacific Blue Cross reimbursement process for
Vascepa is near completion and is also expected to take effect this
month.
"The Product Listing Agreement with BC PharmaCare, and the
subsequent listing by Pacific Blue Cross, will significantly
improve access and reimbursement throughout Canada's third largest province," said
Craig Millian, CEO of HLS.
"Cardiovascular disease remains one of the leading killers
worldwide, so we are very pleased that Vascepa will now be more
accessible to a greater number of BC residents who are eligible for
treatment."
Approximately 14% of all Canadians live in BC1. As
disclosed previously, HLS has achieved public reimbursement for
Ontario, Quebec, 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 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 the composition of HLS's board of
directors. 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 15, 2023, and
Management's Discussion and Analysis dated November 8, 2023, 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
1:
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710000901
2: Company Sources
SOURCE HLS Therapeutics Inc.