Government of Colombia Declares Mandatory Insurance Coverage for Medical Cannabis Products

James Eaton
  • On December 30, 2022, the Ministry of Wellbeing of Colombia reaffirmed the inclusion of plant-based mostly healthcare cannabis solutions, i.e., Khiron items, in the required insurance coverage coverage process
  • Starting off January 1st, 2023, each individual coverage supplier in Colombia, is mandated to go over the fees of healthcare cannabis prescriptions for patients
  • Khiron will quickly begin filling backlogged orders of coverage-protected prescriptions in Colombia
  • New Agreement Awarded: Additionally, in December 2022, Zerenia™ Colombia entered into a agreement with the greatest Federal government-owned insurance policies company in the town of Bogota with above one million folks underneath protection, to present health care services with health care hashish for its affected individual populace

TORONTO, Jan. 5, 2023 /PRNewswire/ – Khiron Lifetime Sciences Corp. (“Khiron” or the “Firm”) (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), announces that the new Colombian Government has integrated plant-based healthcare hashish products (i.e., Khiron merchandise) in the listing of obligatory insurance plan-included medicines starting up January 1st, 2023, as very well as the signing of a first-of-its-type health-related cannabis contract with a single of Colombia´s largest coverage firms primarily based in the metropolis of Bogota.

Resolution 2808 of 2022 was signed by the Ministry of Wellness on December 30, 2022. This revision was essential to take away unintended ambiguities that had arisen irrespective of whether plant-dependent magistral preparations from health care cannabis (i.e., Khiron merchandise) were also bundled in the coverage protection. This is now at the time and for all evidently verified. The new government is thoroughly dedicated with the use of health-related hashish as a covered treatment method below the Colombian health and fitness program.

The Govt utilised this iteration to also validate clinical situations in which they come across average to potent proof that hashish is an successful therapy. These healthcare conditions evaluated by the IETS (Specialized Institute of the health and fitness Sector) include things like persistent and neuropathic ache, oncology agony, sleep problems, epilepsy, and fibromyalgia, which symbolize the major problems addressed with Khiron products.

Through the initially half of 2022, insurance policy-included prescriptions represented a lot more than 90% of the Company´s hashish product sales in Colombia. With a affected individual foundation of additional than 25,000 people, Khiron will promptly resume filling coverage-covered prescriptions via its Zerenia clinic network.

In addition, Zerenia™ Colombia (Khiron´s wholly owned health-related hashish clinic network), has entered into a agreement to supply “Integrative Health Solutions and Pharmacotherapeutic Treatment with Health care Hashish” with the most significant Government-owned insurance policy corporation in the metropolis of Bogota, with additional than 1.2 million insured folks. This is the first time an insurance policy enterprise in Latin The united states is contracting medical cannabis distinct services and merchandise. This signifies an prospect for Khiron and Zerenia to develop its shopper and client base inside of Colombia, though continuing to differentiate by itself with its unparalleled abilities in health care hashish and proprietary scientific proof.

Alvaro Torres, CEO of Khiron, feedback: “Right now is a wonderful day for sufferers in Colombia and Khiron. We welcome the choice from the new Colombian authorities to categorically mandate insurance coverage protection for our health care cannabis products and solutions. With this final decision, Khiron will immediately tackle the backlog of protected clinical cannabis goods to our clients. In parallel, we have also secured a initially-of-its-sort contractual relationship with a person of Colombia´s most significant governing administration-owned insurance businesses for medical hashish unique healthcare expert services and dispensation. These two achievements, will enable us to revert to predictable recurring revenues, shorter selection intervals and enhanced cashflow.”

About Khiron Everyday living Sciences Corp.
Khiron is a main worldwide professional medical hashish enterprise with main operations in Latin America and Europe. Leveraging wholly owned clinical wellbeing clinics and proprietary telemedicine platforms, Khiron combines a affected person-oriented method, medical professional education programs, scientific abilities, item innovation, and target on making obtain to generate prescriptions and manufacturer loyalty with sufferers throughout the world. The Enterprise has a revenue existence in Colombia, Germany, the United Kingdom, Switzerland, Peru, and Brazil. The Corporation is led by its co-founder and Main Government Officer, Alvaro Torres, with each other with an experienced and diverse executive staff and board of directors.

Check out Khiron on the net at https://investors.khiron.ca.

Linkedin https://www.linkedin.com/enterprise/khiron-existence-sciences-corp/

Cautionary Assertion About Forward-Wanting Information and facts
This push launch could contain “forward-searching facts” in just the indicating of applicable securities laws. All information contained herein that is not historical in mother nature constitutes forward-seeking facts. Ahead-seeking data contained in this news launch could include statements pertaining to the envisioned synergies and benefits to the Business from the acquisition of the Target as perfectly as statements as to company technique. Forward-seeking info and statements contained in this news launch mirror management’s recent beliefs and is based mostly on details currently accessible and on assumptions that administration thinks to be realistic. These assumptions include, but are not confined to, the anticipated gains to be recognized by Khiron’s organization as a end result of the acquisition of the Concentrate on, and assumptions relating to current market prospects in the jurisdictions in which the Business operates and where it seeks to run.

Whilst administration thinks that its anticipations and assumptions to be reasonable, forward-seeking details is constantly issue to identified and not known hazards, uncertainties, and other factors, quite a few of which are beyond the handle of management, that may possibly lead to genuine success to differ materially from these expressed or implied in this sort of forward-hunting information. These types of dangers and uncertainties include things like but are not constrained to the following: basic economic conditions, adverse disorders in capital marketplaces, political uncertainties, counterparty hazard, failing to attain demanded regulatory prerequisites and approvals, failure to manage necessary permits and licences, business integration challenges, as effectively as those other danger factors talked over in Khiron’s most current annual data sort which is available on Khiron’s SEDAR profile at www.sedar.com.

As a result of the foregoing and other challenges and uncertainties, visitors are cautioned not to location undue reliance on forward-searching info contained in this press launch. Visitors are further cautioned that the foregoing challenges and uncertainties is not exhaustive, and there could be other challenges and uncertainties, presently unidentified to management of the Enterprise, that may well result in genuine outcomes to vary materially from these expressed or implied in forward-wanting statements contained in this press launch. The ahead-seeking info contained in this push release is expressly qualified by this cautionary assertion. Khiron disclaims any intention to update or revise any forward-looking facts disclosed herein, no matter if as a consequence of new data, long term occasions or if not, apart from as necessary by law.

NEITHER THE TSX Enterprise Trade, NOR ITS REGULATION Products and services Company (AS THAT Time period IS Described IN THE Insurance policies OF THE TSX Enterprise Exchange), ACCEPTS Accountability FOR THE ADEQUACY OR Accuracy OF THIS Press Release.

Source Khiron Life Sciences Corp.

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