Health Canada grants two DIN to new Tetra Bio-pharma OTC products
Category: #health  By Saipriya Iyer  Date: 2020-01-21
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Health Canada grants two DIN to new Tetra Bio-pharma OTC products

Tetra Bio-pharma, a renowned Canadian biopharmaceutical company, reportedly announced that Health Canada, the regulatory health authority of Canada, has granted two new DIN (Drug Identification Numbers) for the first OTC (over-the-counter) products to be sold under the banner of TERPACAN™.

TERPACAN (hemorrhoids) is an innovative topical formulation that would be used to treat hemorrhoids, a painful, itchy and common condition that affects thousands of Canadians. Meanwhile, TERPACAN™ (muscle and back pain) is indicated for temporary relief of pains and aches of joints and muscles associated with lumbago, backache, strains, sprains, bruises, rheumatic or arthritic pain and pain of ligaments and tendons.

The country’s hemorrhoid therapy market has reached up to $22 million, showing a steady 3% CAGR in 2019. Moreover, the heavily competitive self-care pain therapy industry has reached $432 million, recording a CAGR of 1%.

The company is currently in the process of finalizing sales, supply, and distribution contracts with several organizations, and estimates the launching of TERPACAN™ products in pharmacy retail stores of Canada by mid-2020. Furthermore, Tetra would also launch these products into the European and American markets in 2020, once the company gains final marketing approval in those regions.

CEO and Chief Regulatory Officer at Tetra Bio-Pharma, Dr. Guy Chamberland stated that the company is focusing on bringing well-differentiated treatments for patients that are looking at novel options to help relieve the discomfort and pain associated with daily living activities.

Chamberland further added that Terpacan for muscle and back pain, and Terpacan to treat hemorrhoids, are the products that fall in line with the company’s vision. Additionally, as consumers would be able to get these medicines at their corner drugstores, it means easy access for caregivers and patients.

As per the Canadian Digestive Health Foundation, about 20 million Canadians go through a digestive problem each year, and hemorrhoids are one of the associated conditions that create an opportunity for the awareness of self-help cures. Meanwhile, U.S. estimates suggest that this problem affects about 4.5% of the total U.S. population.

The company had submitted these two applications for DIN of these OTC products back in November 2019.

 

Source credit: https://ir.tetrabiopharma.com/newsroom/press-releases/news-details/2020/Tetra-Bio-Pharma-Granted-Two-OTC-Drug-Identification-Numbers-DIN-by-Health-Canada/default.aspx



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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