VANCOUVER - Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) ('Aequus' or the 'Company'), announced today that it has agreed to an extension of terms for its promotional service agreement with Sandoz Canada Inc. ('Sandoz') on tacrolimus immediate-release ('Tacrolimus IR') to December 31st, 2021.
Aequus began promotional efforts in December 2015 for Sandoz's generic tacrolimus, and has since achieved over 10x growth of the product in Canada through increased brand awareness, new patient adoption programs, and leveraging conversion experience and relationships across provinces.
'We believe there continues to be considerable room for growth over the next twelve months for tacrolimus IR, as we plan continued support for patients and physicians regarding the use of this high-quality and cost-effective alternative to branded tacrolimus,' said Doug Janzen, CEO and Chairman of Aequus. 'This extension of terms is particularly meaningful as well, as it reaffirms our commercial capabilities across specialties, from market access and reimbursement to sales force execution, which is a key driver of growth in our business. Sandoz has been a fantastic partner and while we continue to talk to them about Vistitan and other potential products, this extension allows us to seamlessly continue our efforts on Tacrolimus IR while our Eye Care team focus on the launches of the Evolve products.'
Approved Clinical Uses of Tacrolimus IR in Canada
The following information is based on the Product Monograph for tacrolimus IR. Please refer to the full Product Monograph for all labeled safety information for tacrolimus IR.
ABOUT AEQUUS PHARMACEUTICALS INC.
Aequus Pharmaceuticals Inc. (TSX-V:AQS) (OTCQB:AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus has grown its pipeline to include several commercial products in ophthalmology and transplant, and a development stage pipeline in neurology.
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation 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 and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements include but are not limited to statements relating to: potential increased revenue growth for tacrolimus IR; additional coverage would advance sales; an increase in the percentage of total revenue from its partner. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward looking statements included in this release, the Company has made various material assumptions, including, but not limited to: obtaining positive results of clinical trials; obtaining regulatory approvals; general business and economic conditions; the Company's ability to successfully outlicense or sell its current products and in-license and develop new products; the assumption that the Company's current good relationships with its manufacturer and other 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 products and technology offered by the Company's competitors and the Company's ability to protect patents and proprietary rights. In evaluating forward looking statements, current and prospective shareholders should specifically consider various factors set out herein and under the heading 'Risk Factors' in the Company's Annual Information Form dated April 30, 2018, a copy of which is available on Aequus' profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on Aequus' SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of 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 applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward looking statements.