On Wednesday, Alexion Pharma Canada Corp., a part of AstraZeneca's Rare Disease division, announced the signing of a Letter of Intent with the pan-Canadian Pharmaceutical Alliance regarding Koselugo. This medication targets pediatric patients, aged two and older, suffering from neurofibromatosis type 1 (NF1) who have symptomatic, inoperable plexiform neurofibromas.
NF1 is an uncommon, progressive genetic disorder that manifests in symptoms such as soft lumps beneath and on the skin. The company noted that Koselugo, the brand name for selumetinib, works by inhibiting the growth of tumor cells. It has gained approval in several regions including the United States, the European Union, Japan, China, and others for certain pediatric NF1 patients.
With this agreement in place, various provinces and territories can now commence the procedure for including Koselugo in their drug formularies.
Veronique Maheux, President of L'Association de la Neurofibromatose du Quebec, expressed her excitement, stating, "The successful completion of this agreement between Alexion and pCPA is monumental for Canadian children and families facing NF1 PN." She further acknowledged the Province of Quebec for their proactive approach by being the first to list Koselugo and encouraged other regions to promptly provide access to the medication for children living with NF1 PN.
At present, AstraZeneca’s shares are trading at $65.90 on the Nasdaq, reflecting a decrease of 1.90%.
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