Nora Pharma, a Canadian pharmaceutical company, has entered into an exclusive agreement with a biopharmaceutical partner to acquire the commercial rights to a biosimilar drug.
”This announcement marks the culmination of a major shift for our business. Over the past 12 months, we have made a significant change in our activities, moving from the private generic sector exclusively in Quebec to a national company with a drug portfolio that will double in size over the next three years. Our announcement today will also support the objective of both private insurers and public formularies to reduce the costs of acquiring biosimilars. It also sends a powerful signal of our ambition to become a key player in the Canadian pharmaceutical landscape. Finally, the addition of a biosimilar drug to our portfolio will create new job opportunities within the organization, in addition to accelerating the growth and competitiveness of the company. ” – Malek Chamoun, president
The impact on the Canadian Healthcare System
This partnership will allow Nora Pharma to continue to grow rapidly while strengthening its mission to innovate in the Canadian pharmaceutical ecosystem as a growth partner of pharmacists by providing patients with accessibility to high quality affordable pharmaceutical products. In addition, this announcement will align Nora Pharma’s activities with the biosimilars transition policy adopted by several Canadian provinces.
Biosimilars will have a significant impact on the sustainability of drug insurance plans, ensuring patient access to these high-quality treatments for years to come.
A strategic business partner
Nora Pharma is proud to collaborate with a world-class partner that has been operating in the pharmaceutical industry for 40 years. This partner operates with the highest quality standards and is recognized by regulatory authorities around the world. The scope of this agreement will not be limited to this first announcement and further communications will follow in the coming months.
About Nora Pharma
Nora Pharma is a Canadian pharmaceutical company specializing in the distribution of generic and specialty drugs across the country. Nora Pharma is positioned as a partner of choice in optimizing the service offering to pharmacy partners and their patients.
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