09-14-2023
Washington, D.C., Sept. 14 , 2023 – Modavar Pharmaceuticals announced today that it has launched Telmisartan Tablets. The launch of the three strengths of Telmisartan (20mg, 40mg and 80mg in bottles of 30’s) adds to the growing line of products in the Modavar portfolio. The product is available immediately and is AB-rated to Boehringer Ingelheim’s Micardis®. Total market sales for this product are approximately $36.8 million (IMS MAT 7/2023). Micardis® is indicated for the treatment of Hypertension and Cardiovascular Risk Reduction.
Micardis® is an angiotensin II receptor blocker (ARB). It works by blocking a substance in the body that causes blood vessels to tighten. As a result, telmisartan relaxes the blood vessels. This lowers blood pressure and increases the supply of blood and oxygen to the heart. High blood pressure (BP), or hypertension, is a common condition in which the long-term force of the blood against your artery walls is high enough that it may eventually cause health problems, such as heart disease. Nearly half of American adults have high BP. High BP is known as the “silent killer” because most of the time there are no obvious symptoms. When left untreated, the damage that high BP does to your circulatory system is a significant contributing factor to heart attack, stroke and other health threats. High BP is responsible for 7.6 million deaths per annum worldwide (13.5% of the total), more than any other risk factors. Around 54% of stroke and 47% of coronary heart disease are attributable to high BP. Approximately 10% of all global healthcare spending is attributable to high BP, and the annual worldwide cost of hypertension is estimated at $370 billion.
Jaswinder (Manji) Matharu, Chairman, stated, “Modavar’s line of products continues to grow with the introduction of Telmisartan Tablets. We are pleased to be able to provide this product to our customers and patients.”
About Modavar Pharmaceuticals
Modavar Pharmaceuticals is an emerging vertically integrated specialty pharmaceutical company that develops, manufactures, and markets generic prescription pharmaceutical products. In collaboration with Cadila Pharmaceuticals Limited, Modavar has a strong pipeline of products, and plans to manufacture ANDA and 505(b)(2) products in its FDA approved Frederick, Maryland plant as well.
For further information about Modavar Pharmaceuticals, please visit the Company’s corporate website at www.modavar.com.
Safe Harbor
The information in this release may contain various forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (“PSLRA”) and which may be based on or include assumptions concerning Modavar’s operations, future results, and prospects. Such statements may be identified using words like “plans”, “expect”, “aim”, “believe”, “projects”, “anticipate”, “commit”, “intend”, “estimate”, “will”, “should”, “could” and other expressions that indicate future events and trends.
All statements that address expectations or projections about the future, including without limitation, statements about the Company’s strategy for growth, product development, regulatory approvals, market position, acquisitions, revenues, expenditures, and other financial results, are forward-looking statements.
All forward-looking statements are based on current expectations and are subject to risk and uncertainties. In connection with the “safe harbor” provisions, Modavar provides the following cautionary statements identifying important economic, political and technology factors which, among others, could cause actual results or events to differ materially from those set forth or implied by the forward-looking statements and related assumptions.
Such factors include (but are not limited to) the following: (1) changes in the current and future business environment, including interest rates and capital and consumer spending; (2) the difficulty of predicting FDA approvals, including timing, and that any period of exclusivity may not be realized; (3) acceptance and demand for new pharmaceutical products; (4) the impact of competitive products and pricing, including as a result of so-called authorized-generic drugs; (5) new product development and launch, including the possibility that any product launch may be delayed or that product acceptance may be less than anticipated; (6) reliance on key strategic alliances; (7) the availability of raw materials; (8) the regulatory environment, including regulatory agency and judicial actions and changes in applicable law or regulations; (9) fluctuations in operating results; (10) the difficulty of predicting international regulatory approval, including timing; (11) the difficulty of predicting the pattern of inventory movements by the Company’s customers; (12) the impact of competitive response to the Company’s sales, marketing and strategic efforts; (13) risks that the Company may not ultimately prevail in litigation; and (14) the risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.
This discussion is by no means exhaustive but is designed to highlight important factors that may impact the Company’s outlook. We are under no obligation to update any of the forward-looking statements after the date of this report.