HLS Therapeutics Inc. has secured a significant reimbursement milestone for its cardiovascular drug Vascepa (icosapent ethyl), entering into a Product Listing Agreement with the Province of Nova Scotia that takes effect July 1, 2025. The agreement positions the company to serve more than 95% of eligible patients covered by public plans and private insurance across Canada.
Reimbursement Coverage Details
Under the terms of the Product Listing Agreement, Vascepa will be reimbursed as an exception status product by the Nova Scotia formulary for the secondary prevention of cardiovascular events. The coverage specifically targets cardiovascular death, non-fatal myocardial infarction, non-fatal stroke, coronary revascularization, or hospitalization for unstable angina in statin-treated patients with established cardiovascular disease and elevated triglycerides.
"The PLA with Nova Scotia Pharmacare will significantly improve access and reimbursement for Vascepa in Atlantic Canada," said Craig Millian, CEO of HLS Therapeutics. "This milestone, combined with the recent in-licensing of two new products into our cardiovascular portfolio, supports our efforts to position HLS as a leading Canadian-based company focused on reducing cardiovascular risk for Canadians."
Unique Drug Profile and Market Position
Vascepa capsules represent the first and only prescription treatment comprised solely of the active ingredient icosapent ethyl (IPE), a unique form of eicosapentaenoic acid. The drug has received approval from Health Canada and was added to Health Canada's Register of Innovative Drugs, benefiting from data protection for eight years and multiple issued and pending patents based on its unique clinical profile.
HLS in-licensed the exclusive rights to Vascepa for the Canadian market from Amarin Corporation, strengthening its cardiovascular therapeutic portfolio. The company, formed in 2015, focuses on the acquisition and commercialization of late-stage development and commercial-stage branded pharmaceutical products in North American markets, with particular emphasis on central nervous system and cardiovascular therapeutic areas.
Strategic Market Expansion
The Nova Scotia agreement represents a strategic expansion of Vascepa's accessibility across Canada's healthcare system. With this latest provincial coverage, the drug becomes available to an expanded patient population in Atlantic Canada, building on existing reimbursement arrangements across the country.
HLS's management team, composed of seasoned pharmaceutical executives with established track records in cardiovascular and central nervous system therapeutics, continues to pursue additional product and pipeline opportunities to strengthen the company's position in these specialized therapeutic markets.
