An Aging Population is Increasing the Need for Novel Treatments
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NEW YORK, Feb. 3, 2021 /PRNewswire/ -- With the onset of a world health crisis, our seniors are at a greater risk than they were a decade ago. In addition, the growing senior population has tripled in size over the past 40 years. The elderly are at a higher risk of contracting diseases such as cancers, Parkinson's, diabetes, and arthritis, which has led to increased rates of these diseases. Fortunately, with the assistance of pharmaceutical companies, this vulnerable population can seek protection against such diseases. Pharmaceutical companies involved in products to help this aging population include Moderna Inc (NASDAQ: MRNA), BioDelivery Sciences International, Inc. (NASDAQ: BDSI), Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), Trillium Therapeutics Inc (NASDAQ: TRIL) (TSX: TRIL), and Valeo Pharma Inc. (OTCQB:VPHIF) (CSE:VPH).
Valeo Pharma Inc. (CSE:VPH) (OTCQB:VPHIF), a Canadian pharmaceutical company, is involved in licensing a number of products that can be used to help the aging population. One way Valeo does this is through providing their products to healthcare professionals, so they can improve the quality of life for their patients. Because of Valeo's ability to get the product registered in-house and made available as quickly as possible, our senior population can be taken care of faster.
Valeo Pharma is recognized for its expertise in the field of neurodegenerative diseases, oncology, and hospital specialty products. The company has an array of pharmaceuticals on the market, including Onstryv and Benzotropine to treat Parkinson's disease. Onstryv launched as the first new oral medication approved for Parkinson's in Canada in over 14 years. Valeo has the exclusive rights to commercialize Onstryv.
In December 2020, Valeo Pharma also secured Health Canada approval of Redesca, a drug used to treat and prevent deep vein thrombosis and pulmonary embolism, another condition that can often affect the elderly. Redesca has over 8 years of proven in-market safety internationally, and has also treated more than 150 million patients in Europe.
"The regulatory approval of Redesca is a significant corporate milestone for Valeo and also great news for the Canadian healthcare system. Mandatory use of biosimilars is increasingly being adopted across the country and is expected to help provide significant savings to provincial healthcare plans," said Steve Saviuk, President and CEO of Valeo.