VALEO PHARMA PROVIDES UPDATE ON OPHTHALMOLOGY BUSINESS UNIT

• Novartis agrees to sell global rights to XIIDRA® and several other ophthalmology products to Baucsh + Lomb
  
• SIMBRINZA® not included in the divestiture

MONTREAL, July 4, 2023 /CNW/ - Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE:VP2) ("Valeo" or the "Company"), a Canadian pharmaceutical company, notes from the news release issued by Novartis on June 30, 2023 that Novartis has agreed to sell XIIDRA®, a prescription eye drop solution indicated for the treatment of the signs and symptoms of dry eye disease, as well as several other ophthalmology products to Bausch + Lomb Corporation. SIMBRINZA® is not part of the products that are being divested by Novartis. The sale is expected to close before the end of the year.

Valeo entered into a 7-year Commercialization and Supply Agreement with Novartis Pharmaceuticals Canada Inc. in July 2022 for the Canadian rights to XIIDRA® and SIMBRINZA® and its Ophthalmology business unit is engaged in commercial and medical activities for both products.

Valeo Pharma is a fast growing 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.

This press release contains forward-looking statements about Valeo's objectives, strategies and businesses that involve risks and uncertainties. These statements are "forward-looking" because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.

SOURCE Valeo Pharma Inc.

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