Hi, good morning. Thanks for taking my questions. Firstly, could you – is there any progress in terms of taking advantage of tax losses?
Craig Mull
Yes, we’ve made a significant progress. We are in serious discussions, including drafting of agreements with a partner that will co-promote our hospital products. And with that, we believe that we will be able to access the Cardiome losses as we are conducting an active business any area that Cardiome had participated in, and we expect to be able to utilize those losses as soon as the end of 2020.
Craig Mull
Okay. So the launch of a generic is something that we are watching very closely. We’re trying to get as much information that we can about any potential launch of generic of Absorica. We have not seen it. There has been no entries in [indiscernible]. We have talked to them about different pricing strategies. We’re preparing in the event of a launch of a generic to be able to come out with an authorized generic and maintain a significant share of that market. So this is a day-to-day thing and we’re certainly in communication with Sun and we’re also doing our own reconnaissance on any potential launch of the generic.
Okay. Let me start with the second question first. The Canadian business – the Canadian commercial business continues to grow. Yes, we are having declines in the Absorica, royalty payments related to price competition primarily, which we are planning as a – the game plan there would be once the generic is launched, that we work – we will launch our own generic with Sun. And we believe that coming under the Absorica name will allow the product to maintain significant market share.
What the game plan is for the next two years or over even in the next 12 months is to continue to watch our costs and our cost structure, but to start focusing on the development of some of our different programs, including the Tattoo program. The Moberg, nail fungus program and then thirdly a number of different potential projects with Galephar, the first and foremost being Alitretinoin, which is the hand eczema product.
Your second question with regard to Bausch in the arbitration that we’re having with them, we are going through the process. We expect that the arbitrator will make a decision no later than the end of January of 2021 and unless the matter is settled between the parties before that.
Right. Okay. Fair enough. And then one follow-up, if I could with just back to the Trulance arbitration, I appreciate that there’s confidentiality provisions and you’ve got to abide by those, I know that well obviously, but the question is, has the formal part of the arbitration concluded such that it is now in the arbitrators hands to decide or is there still more additional arbitration hours that need to be had?
Craig Mull
I would say that it is in the arbitrator’s hands at this point, although I’m sure that there could be further discussion amongst the parties, but I would say that it is in the arbitrator’s hands at this point.
Peter Raytech
Okay. Fair enough. And I think we can all appreciate that the pandemic has certainly slowed all legal processes, arbitrations included and drawn them out from what they would otherwise be. And I’d expect that would have been the case in the Trulance situation as well.
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