Khiron Serves Record Number of Patients With Khiron Products Globally in
Khiron is serving a record number of patients who are being treated with Khiron products globally. The company has recently reached a cumulative stock of more than 100.000 bottles of medical cannabis sold. This network of medical treatment clinics allows Khiron to collect evidence and conduct studies on the usage of medical cannabis. The groundbreaking analysis of the benefits of medical cannabis sets Khiron apart from any other cannabis companies in today's marketplace
Khiron has posted record 2022 Q1 numbers that included revenue of
In countries such as
Below is a status on Khiron's 2022 business developments, marking is a growth year for Khiron expansion throughout both
- Khiron has established market leadership in the
UK with its first two products on the market, and its KHIRON 20/1 THC-predominant strain is one of the best-selling medically prescribed products in theUK market. Europe , where Khiron is currently expanding through an asset light strategy, poses a large market opportunity for Khiron as additional countries beyond theUK are legalizing medical cannabis. TheUK has a potential of at least 1 million medical cannabis patients andGermany has the potential of over a million patients by 2024. Additionally,Germany offers full coverage of insurance for medical cannabis.- Khiron has acquired
Pharmadrug GmbH . The acquisition provides Khiron with a European manufacturing and distribution center for cannabinoid-based medicines withEU -GMP certification. This will have a direct positive impact on revenues and higher gross margins allowing Khiron to keep wholesale fees in-house. These fees range between 20-30%. The long-established German company will be instrumental in expanding Khiron's product portfolio with new dosage formats and bringing Khiron's full-spectrum extracts toGermany and theUnited Kingdom to grow the patient base - In Q1 2022,
Europe (theUK andGermany ) represented 53% of all medical cannabis revenue, compared to 10% in Q1 2021. Europe accounted for 33% of Khiron's medical cannabis revenues, at more than1.5 million CAD during 2021.- Khiron also announced a new product, the THC-dominant full-spectrum extract KHIRIOX 25/1, which will be available to pharmacies and patients in
Germany and theUK in the near future. KHIRIOX 25/1 combines the medicinal properties and areas of application of the established THC isolate formulations (dronabinol) with the specific advantages of a full-spectrum extract, which may have fewer side effects and are better tolerated by patients.
- Khiron foresees a positive environment with the election of the new president of
Colombia ,Gustavo Petro , who has reiterated his commitment to the consolidation of the medical cannabis industry and recognizes the potential of medical cannabis to reduce high-cost therapies that are already in place. - Khiron is the leader in medical cannabis in
Latin America with its unique vertically integrated approach and leverage of insurance coverage on its clinics. Colombia is the only country inLatin America with universal health insurance coverage for medical cannabis. Over 82% of Khiron sales were sold through insurance coverage, and over 84% of the sales were sold to returning patients.- On
May 31 2022 , Khiron broke the record of 10.000 cannabis units per month, achieving positive net profit in its Colombian clinic operations. - Khiron owns and operates 6
Zerenia Clinics inColombia that have the capacity to attend more than 1,000 patients daily through physical and virtual appointments. - In
June 2022 , Khiron opened its first retail pharmacy, fully licensed to dispense medical cannabis products to patients outside the Company's own clinic network. Three weeks since its opening, it has sold 197 prescriptions.
- Khiron owns and operates two
Zerenia Clinics inPeru and by the end ofJuly 2022 , Khiron will open two additional clinics. - Sales of Khiron products in
Peru have grown consistently and Khiron is expanding the access of Khiron products into drugstores and pharmacies. Sales have grown more than 75 percent from Q4 in 2021 to Q1 in 2022. - Khiron obtained the sanitary registries for Khiriox, THC-rich products that will be launched on the market soon. These products will be available on pharmacies shelves across the country, allowing fast and safe access to all patients.
- With the soon to be launched CBD ointment, Khiron positions itself in
Peru by offering the broadest and most complete portfolio of registered products with CBD and THC derived from a Full Spectrum extract.
- In
March 2022 , Khiron signed a partnership with Teleton, allowing it to establish its medical cannabis clinics, Zerenia, within Teleton's network acrossMexico and to distribute Khiron products in Teleton's pharmacies. Teleton has 24 Medical Centers (22 rehabilitation centers, 1 autism center and 1Children's Hospital for Cancer ) located across the country, and around 600,000 patients with disability, cancer and autism conditions. - Khiron also has a partnership with
Mexico's top university, Tecnologico deMonterrey , where Khiron provides medical education for ethical and safe prescribing of medical cannabis, launching its third course this year. To date, almost 1.000 physicians have been trained through this partnership.
Brazil is the most recent market for Khiron's Latin American expansion. Between late Q2 and early Q3 2022, Khiron will open its firstZerenia Clinic inRio de Janeiro .- The Company also expects to achieve its first import of high THC in Q3 2022.
Khiron is a leading global medical cannabis company with expanding operations in
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This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information and statements contained herein reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding the future regulatory developments and economic conditions, the Company's ability to continue its growth and reduce costs. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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