Valeo Pharma hits 7th straight consecutive quarter of revenue growth
Valeo Pharma CEO Steve Saviuk joined Proactive's Steve Darling to share news regarding the company's strong third-quarter performance.
The company has once again shattered its own records, demonstrating remarkable growth in various key areas of its business.
In 3Q 2023, the company achieved a milestone with record quarterly revenues reaching an impressive $14.1 million, a 132% increase when compared to the $6.1 million generated in the same period of the previous year.
Notably, Valeo Pharma's two flagship products for managing asthma, Enerzair and Atectura, were instrumental in driving this growth, with a 234% increase in sales.
Adjusted gross profit soared to $5.1 million, marking a 106% rise from the $2.4 million recorded in 3Q 2022.
Enerzair and Atectura have emerged as frontrunners in the Canadian asthma market, gaining prominence as essential therapies.
The company said it will focus on sales growth and improved gross margins to put it on the path to profitability, with plans to optimize costs further.
Valeo Pharma is optimistic about its future prospects and anticipates sustained growth as it continues to serve a vital role in addressing healthcare needs.
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Valeo Pharma Inc.