RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or “RAMM”) (CSE:RAMM), a leader in plant-derived cannabinoid pharmaceutical products, welcomes the announcement by Brazil’s National Health Surveillance Agency (ANVISA) which establishes a legalized environment for the sale and consumption of cannabis for medical use, as announced on December 2, 2019. The new regulations will be posted to the Federal Official Gazette in the coming days and will take effect 90 days thereafter. The regulations were approved unanimously as outlined below:
- Medical cannabis products approved for sale by prescription through pharmacies and drug stores.
- Permitted products are restricted to products for oral and nasal use, in tablet or liquid form, as well as oil solutions.
- All cannabis oils and products must be imported in at least semi-prepared form; domestic cultivation continues to be prohibited.
- Products must be manufactured in a facility that is Good Manufacturing Practices (GMP) certified.
RAMM is uniquely positioned as one of the only operators to have a Good Manufacturing Practices (GMP) certified cannabis formulation facility currently in operation in South America. Since April 2018, ANVISA has permitted RAMM’s Epifractán® to be imported into Brazil as a cannabis-based product and prescribed by doctors to patients on compassionate grounds whereby the product is shipped directly to patients on a case-by-case basis. In June 2018, Epifractán® 2% became available for sale in 30ml format and a new 5% CBD concentration formula, Epifractán® 5%, in a 30ml format. The regulations announced on December 2, 2019 will allow for expanded distribution through the broader pharmacy and drug store networks.
“We are pleased with the continued evolution of cannabis regulations in South America and commend Brazil on their progressive regulations and focus on pharmaceutical quality, regulated products,” stated Jack Burnett, Chief Executive Officer. “RAMM is well positioned given our existing sales into Brazil and our GMP certified manufacturing facility which is ramping up production to meet the growing demand.”
RAMM’s state-of-the-art GMP certified facility is ideally situated within close proximity to an international airport and other export hubs. Uruguay is one of the only countries with the ability to ship both by ground or air to the Brazilian market. The facility totals approximately 36,600 sq.ft. and features dedicated cannabis and medical product laboratories along with packaging capabilities and storage/distribution facilities. In 2017 RAMM began producing registered cannabinoid pharmaceutical drugs and has been ramping up production to meet the increasing demand in South America. Brazil has a population of over 200 million and is part of Mercosur, a trade bloc which also includes Uruguay, Argentina, Paraguay and Venezuela.
About RAMM Pharma Corp.
Lead 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: the expected benefits to RAMM of the legalization of medical cannabis in Brazil; 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.