Khiron achieves United Kingdom Cannabis Sales Volume Growth of 240% in Q1 2022
- In Q1 2022, Khiron expects to surpass 1 million CAD in medical cannabis revenues in the United Kingdom ("UK") alone
- Total untapped potential for cannabis patients in the UK exceeds 1M patients
- Supported by its clinic in the UK opened in late 2021, Khiron has increased its sales volumes more than 240% in Q1 2022 compared to entire 2021
- Khiron's growing portfolio in the UK includes KHIRON 20/1, one of the best-selling THC-predominant cannabis flower in the UK market
TORONTO, May 10, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), the global medical cannabis leader expanding throughout Europe and Latin America, continues to demonstrate its market dominance in the UK's medical cannabis industry with cannabis sales volume growth of 240% in Q1 2022 compared to the entire 2021 year. This growth is generated by Khiron's end-to-end solution of government regulation, supply chain, distribution, and clinics prescribing Khiron's medical cannabis products.
With a population of almost 67 million, the UK has a potential of at least 1.5% medical cannabis patients1. Khiron addresses the great potential in the UK with its medical cannabis products and clinical services, which are increasingly used by patients and medical practitioners. In late 2021, Khiron opened its first European Zerenia™ Medical Cannabis Clinics in the UK, offering telemedicine service to patients around the country, and contributing to the Company's patient acquisition and retention growth.
"Today, Khiron has already established market leadership in the UK with it first two products on the market, and its KHIRON 20/1 THC-predominant strain is one of the best-selling medically prescribed products in the UK market," comments Franziska Katterbach, President of Khiron Europe. "In Q1 2022, we expect to surpass our first 1 million CAD in revenues in the UK, and as we expand our portfolio, and increase our patient base, Khiron will consolidate its market leadership within the country. In 2021, Europe accounted for 33% of Khiron's medical cannabis revenues, at more than 1.5 million CAD. In Q1 2022 and beyond, Europe will represent over 50% of Khiron's cannabis revenues, strengthening Khiron's position as a leader in the global medical cannabis market."
(1) Management estimates based on industry benchmarks
Khiron is headquartered in Toronto, with operations in Colombia, Germany, UK, Peru, and Brazil
About Khiron Life Sciences Corp.
Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, UK, Peru, and Brazil and is positioned to commence sales in Mexico. 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
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.
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SOURCE Khiron Life Sciences Corp.
Released May 10, 2022