MONTREAL, Aug. 6, 2024
/CNW/ - Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE: VP2)
("Valeo" or the "Company"), a Canadian pharmaceutical
company, today announced that the Company's Chief Development
Officer, Mr. Al Moghaddam, has been
appointed to succeed retiring CEO Steve
Saviuk.
Mr. Saviuk will remain on Valeo's Board of Directors and assume
the role of Chairman. Mr. Richard J.
MacKay will step down from his role of Chairman of the Board
and will remain a Board member.
"I am enthusiastic to take on the role of CEO of Valeo and lead
a talented and dedicated team. Over the past nine months, the
company has undergone a transformational restructuring to
accelerate its progress towards profitability and continue its
development as a leading Canadian pharmaceutical company", said
Al Moghaddam, Valeo's new CEO. "We
have a solid portfolio of innovative products with continued growth
potential which we plan to expand upon as we seek to acquire/
in-license additional market ready products".
"We are very pleased with the appointment of Al as CEO. He has
the entrepreneurial drive and extensive pharmaceutical background
encompassing, commercial operations, strategy, business development
and financing, necessary to complete Valeo's transformation", said
Steve Saviuk.
"Valeo has grown considerably over the 5 years of my being
Chairman. I have had the opportunity and pleasure to work with some
talented people within the Company and on the Board and I look
forward to continuing to provide guidance in my Board member role",
said Richard J. MacKay, Board member
of the Company.
More about Al
Moghaddam
Mr. Moghaddam is a customer centric transformational life
sciences leader with over 25 years of global experience. His work
experience spans from large multinationals through to early-stage
companies and he has held leadership positions within pharma,
medical device, med-tech, and consumer markets. He is a strong
visionary, process driven leader, able to craft a vision and
motivate teams to achieve superior results and recognized by such
companies as Allergan, Bristol Myers Squibb, Teva &
Pharmascience for outstanding performance in creating value.
Al has cross functional experience in product life cycle
management, sales, BD&L, market access, marketing, finance
& M&A.
About Valeo Pharma Inc.
Valeo Pharma is a Canadian pharmaceutical company dedicated to
the commercialization of innovative prescription products in
Canada with a focus on
Respiratory/Allergy, Ophthalmology and Hospital Specialty Products.
Headquartered in Kirkland, Quebec
Valeo Pharma has all the required capabilities and the full
infrastructure to register and properly manage its growing product
portfolio through all stages of commercialization. For more
information, please visit www.valeopharma.com and follow us on
LinkedIn and Twitter.
Forward Looking Statements
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regarding possible events, conditions or results of operations that
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reliance on third-party suppliers and manufacturers, the
availability of additional funding, common risks for pharmaceutical
products, including product liability claims, insurance and
recalls, registration risks in certain jurisdictions, the inability
to implement Valeo's strategy to grow the business, dependence on
key management personnel and executives, competition, currency
fluctuations and the risks, uncertainties and other factors
contained in the section entitled "Risk Factors" in Valeo's annual
information form dated January 29,
2024, a copy of which is available on Valeo's Sedar+ profile
at www.sedarplus.ca.
Actual events or results may differ materially from those
anticipated in these forward-looking statements if known or unknown
risks affect Valeo's business, or if Valeo's estimates or
assumptions turn out to be inaccurate. Valeo undertakes no
obligation to update publicly, or otherwise revise, any
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or future events or otherwise, except as may be required by law. If
Valeo does update one or more forward-looking statements, no
inference should be drawn that it will make additional updates with
respect to those or other forward-looking statements, unless
required by law.
SOURCE Valeo Pharma inc.