Khiron Life Sciences Enters Peruvian Cannabis Market With Approval For Commercialization Of Kuida® CBD Cosmeceutical Brand
TORONTO, Nov. 27, 2018
Entry into Peru expands access to US $110 Billion Latin American beautycare market
TORONTO, Nov. 27, 2018 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated medical cannabis company with its core operations in Colombia, announced today that the Company has received approval to commercialize and market four key products in the Company's Kuida® CBD cosmeceutical product line in Peru. This approval, from Peru's Executive Director of the Directorate of Medical Devices and Health Products of the General Directorate of Medications, Supplies and Drugs (DIGEMID) brings Kuida® product to a population of 32 Million people in Peru, and with previously announced agreements in Colombia and Mexico, positions the Kuida® brand to now be marketed to a combined population of almost 200 Million in Latin America.
Alvaro Torres, Co-founder and CEO for Khiron stated," Khiron is entirely focused on the Latin American cannabis market and meeting the needs of it's 620 million residents. With today's announcement to commercialize our Kuida® brand in Peru we expand our reach into an important new market. Peru is a region with a fast-growing cosmetic sector and an established legalized cannabis environment, which provides us with a strong foundation on which to build the Kuida® brand."
Kuida®, the first consumer brand of Khiron's Wellness unit, brings the benefits of cannabidol (CBD) to a comprehensive portfolio of skin and body care products for women. Launched in Colombia in September 2018 through retail, wholesale and online channels, an initial portfolio of four Kuida® products will now be commercialized in Peru, a market segment with a population of more than 32 Million. According to the Peruvian Committee of Cosmetics and Hygiene (COPECOH) of the Chamber of Commerce of Lima (CCL) the cosmetics and personal hygiene market is anticipated to experience growth in the range of 6% – 8% in 2018.
With a population of 32 Million, Peru is the sixth country in Latin America to create a legalized medical cannabis environment with laws that allow for the production, import and commercial sale of cannabis for medical use. Peru is experiencing strong economic growth of 2.5% GDP* and according to the World Economic Forum has seen competitive gains in recent years making it among the top ten economies in the region.
*CIA World Factbook
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. (TSXV: KRHN, OTCQB: KHRNF, Frankfurt: A2JMZC) ("Khiron" or the "Company") is positioned to be the dominant integrated medical cannabis company in Latin America. Khiron has core operations in Colombia and is fully licensed in the country for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. In May 2018, Khiron listed on the TSX Venture Exchange, becoming one of the first Colombian based medical cannabis companies to trade on any exchange globally.
With a focused regional strategy and patient oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. Khiron is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
Further information on Khiron Life Sciences can be found at www.khiron.ca.
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SOURCE Khiron Life Sciences Corp.