RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or “RAMM”) (CSE: RAMM), a leader in plant-derived cannabinoid pharmaceutical products, is pleased to announce that the Epifractán™ formulation at 2% of the Company has been approved and registered by the Ministry of Health of Peru (Ministerio de Salud or “MINSA”) for sale in pharmacies throughout the country for various indications prescribed by a doctor. Epifractán™ (cannabidiol) Oral Solution is a pharmaceutical formulation of highly purified plant-derived cannabidiol, formulated and manufactured at the company’s state-of-the-art GMP-certified facilities. In addition to Epifractán™ 5%, Epifractán™ 2% will be distributed throughout Peru by CannFarm Peru SAC pursuant to the Company’s previously announced supply agreement.
“As we continue the rigorous registration process in other jurisdictions, we commend our team and our products for meeting the high standards set by these regulatory authorities,” said Jack Burnett, President and CEO.
About the Peruvian market
Cannabis oil was legalized for medical purposes in Peru in 2017 following major awareness campaigns by parents of children with epilepsy. Peru has the fourth largest population in South America with a population of approximately 33 million people. Peru’s economy is the 48th largest in the world with an annual GDP of $308 billion (2019) and an income level classified as upper middle by the World Bank. Health spending in Peru totaled $12.5 billion in 2018 and has grown steadily over the past decade. Peru imports approximately $1.2 billion worth of pharmaceutical products each year.
In 2017, Epifractán™ became the first plant-derived cannabinoid pharmaceutical drug to be approved by a federal health authority, the Uruguayan Ministry of Public Health (Ministerio de Salúd Publica) as a treatment for refractory epilepsy. The pharmaceutical is sold commercially in cannabidiol (CBD) concentrations of 2% and 5%.
About RAMM Pharma Corp.
Led by renowned experts in the cannabis industry and supported by successful pioneers in the cannabis industry, RAMM is a leader in the field of cannabinoid pharmacology and the formulation of cannabis-based pharmaceuticals and other cannabis products. Founded in 1988 in Montevideo, Uruguay, the company is a well-established pharmaceutical and medical products company that has developed medically registered and approved plant-derived cannabinoid pharmaceutical products. The company currently has several products approved and registered that have been cleared for sale in Uruguay and Peru, as well as for compassionate use in several other Latin American countries. RAMM has a pipeline of new products in various stages of approval and development that are produced in the company’s state-of-the-art Good Manufacturing Practice (GMP) certified cannabis formulation facility. In addition to its leading cannabis business, the Company operates a successful pharmaceutical, cosmetic and nutraceutical development and medical services business that has served the local market for 30 years.
RAMM Pharma Corp. includes wholly owned subsidiaries Medic Plast SA, Yurelan SA, Glediser SA and Ramm Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com.
For more information, please contact:
+598 92 223 131
Caution Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that involves discussions of predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often, but not always, using expressions such as “expects to”, or “does not expect”, “is expected”, “plans” or “does not anticipate”, “plans”, “budget”, “expected”, “expects”, “estimates”, ” believes” or “intends” or variations of these words and phrases or indicating that certain actions, events or results “could” or “might”, “would”, “might” or “would” be expected to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate to, among other things, the Company’s strategies and objectives, as well as future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates made by the management of the Company at the time such statements were made. Actual future results may differ materially, as forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance or achievements future expressed or implied by these forward-looking statements. These factors include, among others: the effectiveness of the Company’s new product offerings; expected timelines associated with the production, deployment and availability of the Company’s new products; the ability to meet increased demand for the Company’s products, changes in the price of required raw materials; the impact of COVID-19 on the Company’s workforce, suppliers, partners, customers and other critical resources and the effect these impacts, if they occur, would have on the Company’s business and operations Company ; the future growth potential of the Company; fluctuations in general macroeconomic conditions; fluctuations in the securities markets; expectations regarding the size of the Uruguayan, Latin American and international medical and recreational cannabis markets and changing consumption patterns; the Company’s ability to successfully achieve its business objectives; expansion plans; political and social uncertainties; failure to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on the cultivation, production, distribution and sale of cannabis and cannabis-related products in Uruguay or abroad; and employee relations. Although the forward-looking statements contained in this press release are based on what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such statements. forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. The Company undertakes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.
RAMM Pharma Publication Announces Approval and Registration of Epifractán™ 2 Percent by Peru’s Ministry of Health appeared first on Investment News Network.
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