WINNIPEG, MB, March 20,
2023 /CNW/ - Waverley Pharma Inc. ("Waverley Pharma"
or the "Company") (TSXV: WAVE), a Canadian pharmaceutical company,
provides an update on its oncology products in various markets.
Currently Waverley Pharma has four generic products approved for
sale in the United Kingdom and two
generic products, Pemetrexed and Bortezomib, approved for sale in
other parts of Europe and
the United States. Similar to the
situation in Europe, Waverley
Pharma is experiencing significant price erosion on these products
in the US due to fierce generic competition. The Company has
won some contracts for its products in the United Kingdom, but in order to do so has had
to be extremely aggressive with pricing resulting in very thin
margins in an era of rising costs. Facing these realities in both
the Unites States and Europe,
Waverley Pharma is evaluating the best strategy for these products
going forward. At the same time, the PARP-1 inhibitor program is
showing promising early results and the Company is committing
additional resources to this program in order to attract a
development partner or buyer for its lead compound.
About Waverley Pharma
Waverley Pharma is a pharmaceutical company focused on the
development and commercialization of safe, effective, and
affordable cancer therapeutics in the EU, United Kingdom and North American markets. The
Company, through its subsidiary, is currently selling two generic
oncology products in the United
Kingdom, namely capecitabine and temozolomide. In addition,
the Company is developing two generic oncology products in both
Europe and the United States, namely pemetrexed and
bortezomib. Waverley Pharma is committed to providing patients with
affordable prescription medicines that lower healthcare costs and
provide a better quality of life. For more information on Waverley
Pharma please visit www.waverleypharma.com.
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Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Information: Statements
contained in this press release that are not statements of
historical fact, including, without limitation, statements
containing the words "believes", "may", "plans", "will",
"estimates", "continues", "anticipates", "intends", "expects" and
similar expressions, may constitute "forward-looking information"
within the meaning of applicable Canadian and U.S. federal
securities laws (such forward-looking information and
forward-looking statements are hereinafter collectively referred to
as "forward-looking statements"). Forward-looking statements
include estimates, analysis and opinions of management of the
Company made in light of its experience and its perception of
trends, current conditions and expected developments, as well as
other factors which the Company believes to be relevant and
reasonable in the circumstances. Inherent in forward-looking
statements are known and unknown risks, uncertainties and other
factors beyond the Company's ability to predict or control that may
cause the actual results, events or developments to be materially
different from any future results, events or developments expressed
or implied by such forward-looking statements, and as such, readers
are cautioned not to place undue reliance on forward-looking
statements. Such risk factors include, among others, the Company's
potential product revenues, stage of development, additional
capital requirements, risks associated with obtaining regulatory
approval to market the Company's products, the ability to protect
its intellectual property, dependence upon collaborative partners,
changes in government regulation or regulatory approval processes,
and rapid technological change in the industry. Such statements are
based on a number of assumptions which may prove to be incorrect,
including, but not limited to, assumptions about: general business
and economic conditions; the impact of changes in Canadian-US
dollar and other foreign exchange rates on the Company's revenues,
costs and results; the timing of the receipt of regulatory and
governmental approvals for the Company's research and development
projects; the availability of financing for the Company's
commercial operations and/or research and development projects, or
the availability of financing on reasonable terms; the
uncertainties associated with the acceptance and demand for new
products and market competition. The foregoing list of important
factors and assumptions is not exhaustive. The Company undertakes
no obligation to update publicly or otherwise revise any
forward-looking statements or the foregoing list of factors, other
than as may be required by applicable legislation. Additional
discussion regarding the risks and uncertainties relating to the
Company and its business can be found in the Company's other
filings with the applicable Canadian securities regulatory
authorities.
SOURCE Waverley Pharma Inc.
