RAMM Pharma Announces Approval and Registration of Epifractán™ 5 Percent by Peru’s Ministry of Health and Enters Distribution Agreement to Supply Pharmacies in Peru
RAMM Pharma Corp. is pleased to announce that the Company’s Epifractán™ 5% formulation has been approved and registered by Peru’s Ministry of Health (Ministerio de Salud or “MINSA”) for sale in pharmacies throughout the country for various indications as prescribed by a medical doctor.
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 Company’s Epifractán™ 5% formulation has been approved and registered by Peru’s Ministry of Health (Ministerio de Salud or “MINSA”) for sale in pharmacies throughout the country for various indications as prescribed by a medical 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 facility. The Company is also pleased to announce that it has entered into an agreement with CannFarm Peru S.A.C. to distribute its products throughout Peru. The agreement was executed July 8, 2020 for a two year term, and will renew automatically thereafter on an annual basis at the discretion of the Company.
“We are pleased with this important step forward,” stated Jack Burnett, Chief Executive Officer.
About the Peruvian Market
Cannabis oil was legalized for medicinal use in Peru in 2017 following significant awareness campaigns by parents of children suffering from epilepsy. Peru has the fourth largest population in South America with a population of approximately 33 million people. The economy of Peru 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 care spending in Peru totalled $12.5 billion in 2018 and has been increasing steadily over the past decade. Peru imports approximately $1.2 billion in pharmaceutical products annually.
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 Salud Pública) as a treatment for refractory epilepsy. The pharmaceutical product is sold commercially in 2% and 5% cannabidiol (CBD) concentrations.
About RAMM Pharma Corp.
Led by renowned cannabis industry experts and backed by successful pioneers in the cannabis sector, RAMM is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. Founded in 1988 in Montevideo, Uruguay, the Company is a well established pharmaceutical and medical product business that has developed medically registered and approved plant-derived cannabinoid pharmaceutical products. The Company currently has multiple approved and registered products that have been authorized for sale in Uruguay and compassionate use in several Latin American countries, as well as a pipeline of new products in various stages of approval and development produced in the Company’s state of the art Good Manufacturing Practice (GMP) certified cannabis formulation facility. Further to its industry leading activities in the cannabis sector, the Company operates a successful pharmaceutical, cosmetic and nutraceutical product development and medical services business which has been servicing the local market for 30 years.
RAMM Pharma Corp. includes wholly owned subsidiaries Medic Plast SA, Yurelan SA and Ramm Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com.
For further information, please contact:
Chief Operating Officer
+598 92 223 131
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, the Company’s strategies and objectives, and future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates of 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 which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: efficacy of the Company’s new product offerings; the expected timelines associated with the production, roll-out and availability of the Company’s new products; the ability to meet increased demand for the Company’s products, changes in prices of required commodities; the impact of COVID-19 on the Company’s workforce, suppliers, partners, customers, and other essential resources and what effect those impacts, if they occur, would have on the Company’s business and operations; future growth potential of the Company; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Uruguayan, Latin American, and international medical and recreational cannabis markets and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Uruguay or internationally; and employee relations. Although the forward-looking statements contained in this news release are based upon 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 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 news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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