Currently, Questcor operates as the autoimmune and rare diseases business of Mallinckrodt Pharmaceuticals.
In Canada, Synacthen Depot is approved for therapeutic use in patients diagnosed with many difficult-to-treat rare diseases and as a diagnostic agent to screen patients presumed to have adrenocortical insufficiency.
Under the deal, Valeo will be responsible for all sales, marketing, regulatory and quality activities for the product in Canada.
Valeo Pharma president and founder Steve Saviuk said: "The agreement for Synacthen Depot represents a further step in Valeo Pharma’s strategic shift in therapeutic focus.
"Combined with the recent sale of our dermatology division, Valeo Pharma is positioned as a rapidly growing, full-service specialty pharmaceutical company focused on bringing new and orphan specialty pharmaceutical products to the Canadian market."
Mallinckrodt is focused on developing, manufacturing, marketing and distributing specialty pharmaceutical products and medical imaging agents.