TORONTO – 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 has commenced sales of its Epifractán™ products through Peruvian pharmacies. As announced on July 9th and 16th, 2020, Epifractán™ was approved and registered by Peru’s Ministry of Health (Ministerio de Salud or “MINSA”), becoming one of only a few cannabis products registered in the country. Both Epifractán™ 2% and Epifractán™ 5% have now been shipped to Peru for sale through pharmacies and will be available to patients with a medical prescription.
RAMM also continues to scale up regular shipments of Epifractán™ to Brazil under the country’s compassionate use framework.
“Sales of our registered medical products through pharmacies is significant to expanding their accessibility to patients in new markets,” stated Jack Burnett, Chief Executive Officer.
Epifractán™ was approved and registered in Peru upon the completion of rigorous testing requirements and approval by MINSA to certify consistency, stability and effective shelf life. Registered products are available at pharmacies as branded finished products and should not be confused with magistral formulas which are prepared by a pharmacist on a case-by-case basis and have not received MINSA approval and registration. Currently only very few cannabidiol products have been granted MINSA registration in Peru(1).
About the Peruvian Market
The medicinal use of cannabis was legalized in Peru in 2017 with guidelines published in 2019. 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™ (cannabidiol) 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 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. Epifractán™ is sold commercially in 2% and 5% cannabidiol (CBD) concentrations. Epifractán™ is a registered pharmaceutical product in Uruguay as well as Peru and is also sold through the compassionate use frameworks in Brazil, Argentina and other countries throughout Latin America.
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, Glediser SA and Ramm Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com