Premier Biomedical (OTCQB:BIEI) announced it has terminated joint venture Premier Biomedical Pain Management Solutions.
As quoted in the press release:
Premier Biomedical has integrated the pain relief products business into a division of Premier, which will continue to develop and market an expanded array of natural and synthetic, 50-state legal CBD-based, generalized, neuropathic, and localized pain relief treatment products. Their products will continue to be sold through their website, www.painreliefmeds.com, as well as through an expanding network of distributors, pharmacies, healthcare professionals, and pain clinics.
Premier Biomedical earlier this week announced the introduction of topical skin patches with higher CBD content than previously. They also announced a higher CBD content topical roll-on to be introduced later this quarter.
William A. Hartman, President and CEO of Premier Biomedical, Inc. stated, “This restructuring allows us to access a wider array of resources to further our aggressive new product plans to better position us as a leader in the CBD-based pain relief products industry. The global pain relief market is currently in excess of $100 billion annually. We believe that our current and future products represent an effective alternative to opioid-based pain relief drugs without the associated health risks and addiction potential of narcotics.”