Brent Willis on Voyageur’s Shift to Innovative Barium Contrast Formulations and an FDA Update

In a recent interview with InvestorNews host Tracy Hughes, Brent Willis, President, CEO, and Director of Voyageur Pharmaceuticals Ltd. (TSXV: VM), discussed the company's shift towards creating innovative pharmaceutical formulations and its strategic focus on vertical integration. Voyageur, a Canadian company specializing in barium and iodine Active Pharmaceutical Ingredients (API), is advancing its business model by filing new drug applications under the FDA 505(b)(2) pathway, which allows the use of existing data from similar drugs to expedite approval. "This allows us to go to the FDA with new drugs on our five barium contrast products, which are currently Health Canada approved and set to generate revenue this year in Canada," Willis explained. Willis also emphasized Voyageur's unique position in the contrast media market, which is projected to double in the next decade due to increasing chronic diseases and aging populations. He discussed the company's Frances Creek project, noting that they have discovered one of the highest-grade barium sulfate deposits, enabling them to produce their own minerals and drugs. “What propels our growth is a tenfold decrease in mineral costs,” Willis noted, referencing the stark cost difference between importing and producing their own barium sulfate. As the company moves toward production, Willis projected significant revenue growth, potentially reaching up to $10 million next year, with the long-term goal of capturing 30% of the market.