Tetra (TBP) is gearing up to launch REDUVO™, its first cannabinoid-derived medicine, in Canada.
REDUVO™ is a cannabinoid-derived drug indicated in chemotherapy-induced nausea and vomiting. The company's New Drug Submission to Health Canada is currently in its final stage of review by the regulator. If successful, it will provide Tetra with its first Drug Identification Number (DIN) for a THC-based prescription drug.
Several pre-launch activities have been started or completed:
- Distribution agreement
- Reimbursement strategy development
- Customer segmentation and targeting
- Medical and commercial field team staffing
- Strategy development and initiation
Steeve Néron, Chief Commercial Officer of Tetra Bio-Pharma commented on the progress.
"We are now entering in a major transformation going from a biotech company strictly focused on research into a biopharma with commercial operations. We remain confident that REDUVO™ shall receive a Notice of Compliance (NoC) from Health Canada in the coming months.
REDUVO™ will help us create our Canadian footprint with healthcare professionals to establish our leading position in cannabinoid-derived medicines."
Financial impacts:
- Over the next five years, the cumulative gross sales are expected to reach $121M in Canada.
- REDUVO™ will pave the way for the global drug launch of REDUVO™ Adversa® in 2024, a dronabinol administered product
- REDUVO™ Adversa® cumulative global gross sales are expected to reach $79M by 2026
Tetra Bio-Pharma is a leader in cannabinoid-derived drug discovery and development with an FDA and a Health Canada cleared clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers.
Tetra Bio-Pharma Inc. (TBP) opened trading at C$0.225 per share.