Khiron Becomes First Company to Sell Medical Cannabis in Peru, and Surpasses 3,000 Prescriptions in Colombia
- First prescriptions for Khiron's medical cannabis in Peru are filled as the Company surpasses 3,000 medical cannabis prescription milestone in Colombia
- Khiron becomes the first Company to sell and fill medical cannabis prescriptions through private pharmacies in Peru
- The Company began sales in Peru with full spectrum High CBD supplied by Khiron Colombia and distributed to patients under the previously announced agreement with Farmacia Universal S.A.C.
- Farmacia Universal is an established pharmacy chain, with 10 locations in Lima
- Quotas for Khiron's high THC medical cannabis have also been approved by DIGEMID, Peru's drug regulatory authority, with first prescriptions anticipated in Q4 2020
- With a population of 32 million, Peru's medical cannabis market is expected to be one of the largest in Latin America
TORONTO, Sept. 24, 2020 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, announced that it has filled the first prescriptions of full spectrum, high CBD medical cannabis to patients in Peru. This comes following authorization from DIGEMID, Peru's drug regulatory authority, and expands sales of Khiron's medical cannabis to a second jurisdiction in Latin America, following established sales in Colombia, where over 3,000 prescriptions have been filled to date.
"After completing successfully all export, import and distribution requirements to bring our approved high CBD medical cannabis products into Peru, we are now very proud to begin sales and give patients greater access to medical cannabis therapies in order to improve significantly their quality of life," comments Luis Marquez, Khiron Peru Country Manager.
In Peru, only registered pharmaceutical establishments that have received Good Storage Practices (GSP) certification and licenses to import and commercialize medical cannabis are authorized to participate in the wholesale import and commercialization of cannabis products. Khiron Peru is a GSP certified, registered pharmaceutical establishment, and Farmacia Universal has all required permits and licenses, including Good Manufacturing Practices (GMP) certification, to prepare magistral preparations with medical cannabis and distribute final products to patients through pharmacies under the previously announced agreement with Khiron.
"At Khiron we continue to execute on our stated strategy to deliver quality medical cannabis products to patients and to improve the quality of their lives. In a short period of time, and despite a global pandemic, we have filled over 3,000 medical cannabis prescriptions in Colombia, and today we are pleased to expand that reach, filling our first patient prescriptions in Peru, an important market of 32 million people," comments Alvaro Torres, Khiron CEO and director.
Additionally, quotas for Khiron's high THC medical cannabis product in Peru have also been approved by DIGEMID, with first patient prescriptions anticipated to be filled in Q4 2020.
Farmacia Universal S.A.C. is a well-known Peruvian pharmacy chain. The company operates ten locations in Lima and is a leader in the pharmaceutical preparations sector in Peru. In addition to selling pharmaceutical, surgical and orthopedic products, among others, the company differentiates its brand with premium service to customers and patients.
About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America. Khiron is the leading cannabis company in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution and sales, and international export of both low and high THC medical cannabis products. The Company has filled medical cannabis prescriptions in Peru and has a presence in Mexico, Uruguay, UK, Spain and also in Germany, where it is positioned to begin sales of medical cannabis.
Leveraging its first-mover advantage and patient-oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia, with Kuida™ now marketed in multiple jurisdictions in Latin America, the US and UK. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.
Visit Khiron online at investors.khiron.ca and on Instagram @khironlife.
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Khiron Life Sciences Corp.
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