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Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) announced that Al Moghaddam will be taking up the newly created role of chief development officer and, as a result will be stepping down from the company's board of directors. The Canadian pharmaceutical company said that as CDO, Moghaddam will lead the design and implementation of strategies to identify and negotiate with financial parties to strengthen its capital structure.
Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) saw revenue for the second quarter of 2024 increase primarily driven by successful promotional activities for respiratory products, increased sales of Allerject, and continued growth in other core products like Redesca and Simbrinza. In its 2Q financial statement, the Canadian pharmaceutical company posted revenues of $14.1 million, up 4% from $13.6 million in the same year-ago period.
Valeo Pharma Inc said it has launched a restructuring of its field sales operations, taking cost-cutting to more than $7 million a year, including other recent measures. The latest initiative, which includes a 20% reduction of the workforce, aims to improve margins, reduce operating expenses, and accelerate the company's path to profitability.
Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has announced the appointment of Al Moghaddam to its board of directors. The Kirkland, Quebec-based pharmaceutical company highlighted that Moghaddam brings more than 25 years of global experience as a customer-centric transformational life sciences leader to the board.
Canadian pharmaceutical company Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) reported a 3% increase in first quarter revenue compared to the same period in the previous year driven by strong sales from its respiratory business unit. For the first quarter ending January 31, 2024 Valeo saw revenue of $13.5 million as prescriptions of its Total Enerzair and Atectura products surged 130% compared to the previous 12-month period to reach 78,000.
Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) announced a boardroom reshuffle that includes the addition of two new members and the departure of four. Robert Raich and Charles Bisaillon have joined as directors, bringing with them significant senior-level experience.
Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has unveiled changes to a seven-year agreement with Novartis Pharmaceuticals for the distribution of its eye treatment. Xiidra, a treatment for dry eye, will be distributed by Valeo until late this year, rather than for an initially agreed seven-year term, following Bausch and Lomb's acquisition of the brand from Novartis in September.
Valeo Pharma Inc. (TSX:VPH, OTCQB:VPHIF) has reported record revenues of $54 million for fiscal 2023, representing a 94% year-over-year increase driven by increased demand for its prescription products. The Canadian pharmaceutical company also posted a record adjusted gross profit of $16.9 million for the year, up 80% from $9.4 million in 2022.
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