MIAMI, FL, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Omni Health, Inc., (OTC: OMHE), a vertically integrated healthcare company dedicated to the development of pharmaceutical, anti-aging products, and biotech engineering, today announced its plan already in motion to create a drug candidate compelling to Big Pharma.
Based on four decades of exemplary care, Omni Health has started the process of reformulating its most successful proprietary formularies to include cannabidiol (CBD) and commence its FDA Medical Devices registration for topical pain analgesic. It is Omni Health’s intent to capitalize on a significant potential for cannabinoid bio therapeutics to transform the treatment of chronic pain and other debilitating conditions, and bring a product to the market with a strong demand and reimbursable under government payors and major insurance plans.
“By employing an FDA regulations-savvy, ‘fast-track’ pipeline strategy, Omni Health will quickly be in a position to partner our new drug for late-phase development,” said Omni Health’s CEO, Andrey Soloviev. “Our projections set this target date at roughly three years out. It will be a strong competitor in a lucrative medicinal niche populated by a limited number of pain management products at exponentially higher valuations. Peer analysis shows these valuations to be in the range of $100 Million to $140 Million.”
Additionally, Omni Health is in the final stages of development of non-prescription CBD analgesic creams and ointments with fast absorption properties which we are able to rapidly deploy to the market.
Simultaneous to the FDA application for this new drug, the Company will commence by manufacturing OTC analgesic creams and ointments containing CBD with rapid absorption and optimal bioavailability profiles. Given the potency of these analgesics, they will be marketed and distributed exclusively to doctors’ offices, clinics, and hospitals to ensure appropriate patient support and product usage. As per the current schedule, it’s anticipated they this product will be introduced to the North American market during Q3 2018. Based on current market trends and competitor analysis, Omni Health projects generating a recurring annual revenue exceeding $7 Million.
“The Global Market for Pain Management will grow from nearly $36.1 Billion in 2017 to $52.0 Billion by 2022 and the Cannabidiol (CBD) market is estimated to grow by 700% by 2020”, concluded Andrey Soloviev, “As such, there is a unique potential for Omni Health to truly seize the day by bringing the first FDA registered CBD pain analgesic to the market”
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.