VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 24, 2015) - VANC Pharmaceuticals Inc. (TSX VENTURE:NPH)(NUVPF) ("VANC" or the "Company"), a pharmaceutical company focused on the Canadian generic drug and over-the-counter (OTC) markets, is pleased to announce that it has received confirmation from the British Columbia (BC) Ministry of Health approving 14 of the Company's generic molecules under the Low Cost Alternative (LCA) program. The approval of these molecules makes them eligible for listing on British Columbia's provincial formulary and for reimbursement through Pharmacare. Pharmacare is the Province's coverage plan that assists residents with the cost of eligible prescription drugs and certain medical supplies.
"We are excited to have received LOA approval from the BC Ministry of Health as it signifies an important milestone in our evolution as a Company - we can now provide residents of BC with safety, quality and affordability when it comes to these 14 molecules," said Arun Nayyar, CEO of VANC. "We will continue to work with the Ministry of Health to gain approval of additional molecules during Q1-2015."
Table 1.0 provides a listing of the 14 approved products.
|Molecule Name||Presentations||Brand |
|1||VAN-Rizatriptan||5 MG Tab||Maxalt™|
|2||VAN-Amlodipine||5 MG and 10 MG Tab||Norvasc™|
|3||VAN-Losartan||25 MG, 50 MG and 100 MG Tab||Cozaar™|
|4||VAN-Losartan-HCTZ||50+12.5 MG and 100+25 MG Tab||Hyzaar™|
|5||VAN-Levetiracetam||250 MG, 500 MG and 750 MG Tab||Keppra™|
|6||VAN-Gabapentin Tab||600 MG and 800 MG Tab||Neurontin™|
|7||VAN-Omeperazole||20 MG DR Tab||Losec™|
|8||VAN-Finasteride||5 MG Tab||Proscar™|
|9||VAN-Olanzapine||2.5 MG, 5 MG, 7.5 MG, 10 MG and 15 MG Tab||Zyprexa™|
|10||VAN-Sertraline cap||25 MG, 50 MG and 100 MG Cap||Zoloft™|
|11||VAN-Pantoprazole||40 MG Tab||Pantoloc™|
|12||VAN-Gabapentin Cap||100 MG, 300 MG and 400 MG Cap||Neurontin™|
|13||VAN-Ciprofloxacin||250 MG, 500 MG and 750 MG Tab||Cipro™|
|14||VAN-Sildenafil||25 MG, 50 MG and 100 MG Tab||Viagra™|
About Low Cost Alternative (LCA) Program
The British Columbia Ministry of Health established the Low Cost Alternative (LCA) program under the Drug Price Regulation to ensure the best value is obtained for expenditures on multi-source drugs. The program works by limiting PharmaCare reimbursements for drug products subject to an LCA price.
For more information please visit: http://www.health.gov.bc.ca/pharmacare/
On behalf of:
VANC Pharmaceuticals Inc.
Arun Nayyar, President and CEO
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves VANC's expectations, lans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. VANC generally uses words such as "outlook", "will", "could", "would", "might", "remains", "to be", "plans", "believes", "may", "expects", "intends", "anticipates", "estimate", "future", "plan", "positioned", "potential", "project", "remain", "scheduled", "set to", "subject to", "upcoming", and similar expressions to help identify forward-looking statements. The forward-looking statements in this release are based upon information available to VANC as of the date of this release, and VANC assumes no obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of VANC and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.