Medical First: Germany strengthens reimbursement of medical cannabis
- On 16 March 2023, after five years of observational data collection the German Federal Joint Committee (G-BA) decided on the future regulations that will govern the prescription of medical cannabis as a benefit of the statutory health insurance
- After several months of discussions and thoroughly analyzing the data, the G-BA passed regulations that ensure patient care with medical cannabis and coverage by statutory health insurance
- Germany is the largest and fastest growing medical cannabis market in Europe which Khiron directly supplies via its fully owned EU-GMP certified distributor, Pharmadrug Production GmbH, with its growing product portfolio
Toronto, Ontario--(Newsfile Corp. - April 25, 2023) - Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQB: KHRNF) (FSE: A2JMZC) ("Khiron" or the "Company"), welcomes the clear affirmation of the Federal Joint Committee (G-BA) regarding the future of medical cannabis in Germany as a treatment option reimbursed by statutory health insurance (SHI). The main task of the G-BA is to define the scope of health care and to decide which services are covered by the SHI. Under the German regulations for medical cannabis:
- All doctors are authorized to prescribe. The more than 50.000 general practitioners provide a large part of patient care in Germany
- Authorization to patients granted before the new regulations continue to apply
- Only new initial medical cannabis prescriptions as well as fundamental changes in therapy require approval by health insurance funds. These may only be refused in justified exceptional cases
- Reimbursements apply for both dry-flower and extracted medical cannabis products
The decision of the G-BA, follows up on a Health Committee hearing where experts reemphasized the need to further simplify access to medical cannabis, including the complete removal of the approval requirement from SHI.
In Germany, Khiron sells its comprehensive product portfolio directly to pharmacies through its EU-GMP distribution centre Pharmadrug Production GmbH, which was acquired last year. Khiron Europe offers in Germany and the UK a complete suite of products carefully designed to meet all needs from patients and prescribers, covering the main routes of administration for the most individualized therapy possible. Its latest addition is KHIRIOX 12/14, the company's flagship full-spectrum cannabis extract, which is the most prescribed THC-containing formulation in Latin America with nearly 50,000 bottles distributed to date. Because of its long-standing trajectory, KHIRIOX 12/14 is backed by Khiron's extensive experience in gathering real-world clinical data, which grants prescribers access to clear guidelines to confidently design a treatment pathway and maximize patient-reported outcomes and satisfaction.
Franziska Katterbach, President of Khiron Europe, comments: "In recent months, there has been a lot of discussion in Germany about the future of medical cannabis - especially with regards to the reimbursement of dried flowers and extracts. This important debate was often overshadowed by the discussion about the legalisation of recreational cannabis. It is therefore even more important that patients' access to reimbursed medical cannabis products, including our Khiron product portfolio, has been confirmed while the regulatory framework for recreational cannabis remains under discussion. This illustrates the outstanding importance of medical cannabis: Patients First!"
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, the United Kingdom, Switzerland, Peru, and Brazil. The Company is led by its 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
Cautionary Statement Regarding Forward-Looking Information
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 contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to business strategy. Forward-looking information and statements contained in this news release 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, the expected benefits to be realized by Khiron's business as a result of the acquisition of the Target, and assumptions regarding market opportunities in the jurisdictions in which the Company operates and where it seeks to operate.
Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.
As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.