New Vizient Drug Price Forecast Estimates 3.59% Increase for 2020-2021

IRVING, Texas–(BUSINESS WIRE)–Vizient, Inc. released its Winter 2020 Drug Price Forecast projecting that health systems, including inpatient and non-acute environments, can expect a 3.59% increase for pharmaceutical purchases made from July 1 to June 30, 2021. While the forecasted percentage is lower than previous projections, the influence of expensive biologic therapies, oncology and oncology-related drugs, disease-modifying antirheumatic drugs (DMARDs), and immunomodulators on overall spend by health systems remains quite substantial. The Drug Price Forecast can be accessed here.

“Over the last three forecasts, we have seen a trend toward price increases that are meaningful but smaller. Still, we don’t want to minimize the impact that continued price increases have on providers and patients,” said Dan Kistner, group senior vice president, pharmacy solutions for Vizient. “We believe that the lower rate of price inflation can be attributed to advocacy work by industry groups, including Vizient, and improved transparency in the supply chain for pharmaceuticals. We can’t take our eye off the issue of rising drug prices yet, and we support the continued scrutiny of drug prices by the public and legislators.”

Kistner also noted that increased competition in some of the expensive biologic therapies is also helping lower costs. “One of the keys to managing costs for health systems is the adoption of biosimilars as they come on the market. There are now 12 biosimilars available and where there are two or more competitors, we have seen prices as much as 30% lower than the branded product. Providers and payers must now become better aligned to realize the full benefit that competition can offer in driving down the cost of care.”

Although biologic drugs dominate many aspects of spend, the forecast also notes that certain small-molecule medications will have a substantial cost impact on health systems. Two of these are intravenous (IV) acetaminophen and vasopressin. For IV acetaminophen, market exclusivity and patent protection are expected to expire in December 2020, and there will likely be numerous abbreviated new drug applications (ANDAs) and 505(b)(2) versions of this product entering the market. This level of competition should bring meaningful pricing relief in 2021. In the case of vasopressin, while market exclusivity has expired for this drug, numerous patents could protect it from competition until 2035.

Highlights from the forecast report include:

  • The publication of the FDA’s Drug Shortages Task Force report in late 2019 may have been a turning point. As documented in our 2019 survey, the labor cost incurred for management of drug shortages is an estimated $359 million annually. By identifying meaningful steps to address the fundamental issues that contribute to supply interruptions, the industry can begin to take action. At Vizient, we are already implementing solutions, which align with the FDA’s recommendations, through our private label program, Novaplus®. Through agreements within the Novaplus Enhanced Supply program, contracted manufacturers are held to standards of accountability and transparency and will increase available supply based on historical Vizient member utilization, which currently equates to a potential supply of 31 million additional vials of 11 essential medicines.
  • Payers’ formulary decisions and their impact on reimbursement continue to be the biggest hurdle to an even stronger adoption of biosimilars. While these therapies can offer savings approaching 30%, variations in payer formularies are requiring providers in multiple care settings to stock several versions of the same product (originator and biosimilar) to ensure reimbursement, which is definitely not the intention of manufacturers.
  • Specialty pharmaceuticals continue to dominate all aspects of drug approvals and purchasing and are having a disproportionate impact on pharmaceutical costs. The forecast notes a 3.36% increase for specialty drug price inflation rates for biologic and non-biologic products. The analysis was based on review of 108 unique drugs and 270 national drug codes (NDCs) that have either an orphan designation or would cost at least $4,000 per month per patient. Although they only account for 2.2% of total prescription volume, specialty drugs now account for 49.5% of total spending by institutional and retail pharmacy settings.
  • Pediatric pharmaceutical costs are rising as a result of the targeting of rare diseases that require specialty or orphan drugs. The forecast anticipates a 3.45% weighted average increase. Approvals of drugs for the pediatric population have been primarily in three categories: specialty drugs, gene therapy and chimeric antigen receptor T-cell (CAR-T) treatments.
  • Recent regulatory, reimbursement and drug shortage policy changes will have a significant impact on acute care providers. Specific changes health systems must focus on include antimicrobial stewardship policies, the Drug Supply Chain Security Act, compounding standards established by the U.S. Pharmacopeia and new requirements for pharmacy technicians.

“The pharmacy landscape continues to be extremely complex — regulatory issues, financial pressures and clinical requirements. We must also consider the potential impacts of the upcoming election, which could accelerate or curtail current initiatives aimed at increasing competition and market transparency that can address drug shortages and lower drug costs overall.” said Kistner. “It will be important for health systems to stay vigilant in managing cost as we continue to navigate a very turbulent marketplace.”

The Vizient Drug Price Forecast reflects the collective expertise of over two dozen employees of the Vizient pharmacy sourcing, analytics, clinical and consulting teams along with external resources, including its members. It is based on the analysis of data from Vizient’s Pharmacy Program, which compiles member participants’ purchases (price and volume) in hospital and non-acute care settings. Vizient bases inflation estimates on price change history during the last 36 months, as well as current knowledge of contract allowances and marketplace factors such as expiring patents and anticipated new competition.

The forecast is an important resource for pharmacy leaders in developing annual budget projections for their health systems. Vizient conducts the pricing analysis biannually to provide insight on factors driving pricing and practice changes in the pharmaceutical industry. The forecast may be accessed here: http://bit.ly/37BdcTs

Vizient, Inc. provides solutions and services that improve the delivery of high-value care by aligning cost, quality and market performance for more than 50% of the nation’s acute care providers, which includes 95% of the nation’s academic medical centers, and more than 20% of ambulatory providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $100 billion in annual purchasing volume, to improve patient outcomes and lower costs. Vizient has earned a World’s Most Ethical Company designation from the Ethisphere Institute every year since its inception. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.

Contacts

Angie Boliver

(972) 830-7961

angie.boliver@vizientinc.com

First Dosing in Exopharm’s PLEXOVAL Exosome Wound Healing Human Study

 HIGHLIGHTS

  • First human dosing of PlexarisTM has occurred in Exopharm’s PLEXOVAL Study
  • PLEXOVAL is a world-first study using a cell free, platelet-derived exosome product manufactured using Exopharm’s proprietary LEAP Technology for wound healing
  • Other pre-clinical development progress will be reported over coming months

MELBOURNE, Australia–(BUSINESS WIRE)–Regenerative medicine company Exopharm Limited (ASX:EX1) announces first dosing has occurred in the PLEXOVAL Phase I study using exosomes isolated from human platelets for wound healing, Exopharm’s first human clinical trial. Further participants are expected to soon follow in this study that involves up to 20 participants.

The PLEXOVAL study placed Exopharm in a worldwide leadership position in the exosome field, and first dosing is a key milestone for Exopharm as a clinical stage company developing exosome-based medicines. Dr Ian Dixon, Exopharm’s founder and CEO said “The first dosing of the PLEXOVAL study positions Exopharm as a clinical stage leader in the cell-free exosome field of regenerative medicine. It is a great achievement for our team to test our exosome product in this Phase 1 study, which is a world first. Our LEAP Technology allows us to manufacture an advanced exosome product. We believe our progress will be closely watched by industry players and potential partners.”

Exopharm seeks partnerships to leverage its exosome technology platform to develop additional products from a variety of cell sources into advanced regenerative medicines.

Exosomes show great promise across a range of age-related medical conditions including problems with mobility (e.g. osteoarthritis) and sensory function (e.g. erectile dysfunction, eye disease, hearing loss and age-related macular degeneration), but the number of companies capable of manufacturing sufficient quality and quantities of exosome products at the clinical level is still very limited. This makes Exopharm an ideal potential partner for exosome products in areas such as neurodegeneration, cardiac repair, wound healing and transplant rejection.

Exopharm was granted Human Research Ethics Committee approval to commence the PLEXOVAL wound healing study with its Plexaris™ (exosomes from platelets) autologous product under the Australian Clinical Trials Notification (CTN) scheme in 2019. “Platelets have a well-established safety profile from millions of transfusions annually, so Plexaris™ is an excellent first step in our regulatory journey toward commercialising the medical use of a variety of exosome products in humans,” said Dr. Chris Baldwin, Chief Commercial Officer.

As previously announced, dosing of Cohort 2, with up to five participants, in the PLEXOVAL Study commences first. Recruitment will now be completed on a rolling basis.

Cohort 2 testing includes histology of biopsied post treatment wound tissue for assessment of biological activity within the healed wound.

The main readouts of the PLEXOVAL study will be safety, wound closure and scarring. Subject to successful recruitment and throughput, a study report will be provided to Exopharm, at this stage expected after mid CY ’20.

“Wounds and poor wound healing are medical problems affecting thousands of Australians every year. As we age our ability to heal declines and the prevalence of chronic wounds increases. Exosomes from platelets have been shown in animal studies to improve wound closure and reduce scarring. This human study is looking at whether our Plexaris™ product might become a useful improved treatment option for medical professionals and potential partners,” said Dr. Dixon.

For additional information on the PLEXOVAL Study, see the ASX announcement dated 26 August 2019 which provides full study details.

By the Board – this announcement has been authorised for release by the board.

ABOUT EXOPHARM

Exopharm Limited (ASX:EX1) is a clinical-stage Australian regenerative medicine company developing therapeutic exosome products as alternatives to stem-cell therapies.

Exosomes are small particles naturally produced by cells, which deliver therapeutic ‘cargoes’ to other cells to reduce inflammation and promote regeneration. Exosomes are plentiful in our youth but decline with age. Recent research points to exosomes as a way to extend the number of healthy, functional years (extending health span).

Exosomes secreted by stem cells could be used instead of stem-cell therapy with equal or greater benefit – and without the problems of stem-cell therapies. They could be used to deliver targeted ‘novel’ drugs and have potential as diagnostics.

While trillions of exosomes are produced by stem cells, the real challenge is to ‘purify’ them as drug products. Exopharm owns a purification technology called Ligand-based Exosome Affinity Purification (LEAP). LEAP technology and associated know-how places Exopharm at the forefront of this emerging field worldwide. Exopharm is at clinical stage with pending and current trials for wound healing, dry agedrelated macular degeneration and osteoporosis.

Exopharm was founded in 2013 by Dr Ian Dixon, co-founder of the ASX-listed stem-cell therapy developer Cynata Therapeutics. He was also a director of Cell Therapies, which produced adult stem cells for ASXlisted stem cell company Mesoblast. Exopharm listed on the ASX in December 2018.

FORWARD LOOKING STATEMENTS

This announcement contains forward-looking statements which incorporate an element of uncertainty or risk, such as ‘intends’, ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘aims’, ‘plans’ or ‘expects’. These statements are based on an evaluation of current corporate estimates, economic and operating conditions, as well as assumptions regarding future events. These events are, as at the date of this announcement, expected to take place, but there cannot be any guarantee that such events will occur as anticipated or at all given that many of the events are outside of Exopharm’s control or subject to the success of the Development Program. Furthermore, the Company is subject to several risks as disclosed in the Prospectus dated 6 November 2018.

INHERENT RISKS OF INVESTMENT IN BIOTECHNOLOGY COMPANIES

There are a number of inherent risks associated with the development of biopharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialisation and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology. Companies such as Exopharm are dependent on the success of their research and development projects and on the ability to attract funding to support these activities. Investment in research and development projects cannot be assessed on the same fundamentals as trading and manufacturing enterprises. Therefore, investment in companies specialising in drug development must be regarded as highly speculative. Exopharm strongly recommends that professional investment advice be sought prior to such investments.

Contacts

Company and Media Enquiries
Dr Ian Dixon, MBA

Founder and Managing Director

P: +61 (0)3 9111 0026

ian.dixon@exopharm.com

Rudi Michelson

Monsoon Communications

Tel: +61 (0)3 9620 3333

Join our mailing list to receive updates:

info@exopharm.com
www.exopharm.com
P: +61 (0)3 9111 0026

Dow reports fourth quarter 2019 results

MIDLAND, Mich.–(BUSINESS WIRE)–Dow (NYSE: DOW):

FINANCIAL HIGHLIGHTS

  • GAAP loss per share from continuing operations was $3.14; Operating EPS¹ was $0.78. Operating EPS excludes significant items in the quarter, totaling $3.92 per share, primarily related to: the impairment of the remaining Coatings & Performance Monomers acquisition-related goodwill and charges related to Sadara; integration and separation costs; and a tax gain associated with Swiss tax reform.
  • Net sales were $10.2 billion, down 15% versus pro forma results in the year-ago period, primarily driven by lower local prices in all operating segments due to a decline in global energy prices.
  • Volume declined 2% versus pro forma results in the year-ago period, primarily due to lower hydrocarbon co-product sales as a result of planned turnaround activity. Excluding the Hydrocarbons & Energy business, volume rose 2%, driven by demand growth in packaging and construction chemicals applications.
  • Local price declined 12% versus pro forma results in the year-ago period. The largest declines were in Packaging & Specialty Plastics, driven by decreases in polyethylene and hydrocarbon co-products, and in Industrial Intermediates & Infrastructure, primarily due to polyurethane intermediates. Currency decreased sales by 1%.
  • Equity losses were $21 million versus pro forma equity earnings of $26 million in the year-ago period. The reduction was primarily due to lower results at the Kuwait joint ventures, driven by margin compression in monoethylene glycol (MEG) and polyethylene.
  • GAAP loss from continuing operations, net of tax, was $2.3 billion. Operating EBIT1 was $1.0 billion, down from pro forma results of $1.3 billion in the year-ago period, reflecting margin compression in Packaging & Specialty Plastics and Industrial Intermediates & Infrastructure. These factors were partly offset by margin expansion in Performance Materials & Coatings, savings from stranded cost removal, and the contribution from new polyethylene capacity on the U.S. Gulf Coast.
  • Stranded cost removal in the quarter was more than $35 million, raising the full-year, cumulative stranded cost savings to more than $160 million.
  • Cash provided by operating activities – continuing operations was $1.9 billion, up $531 million versus the year-ago period. Capital expenditures in the quarter were $577 million and free cash flow2 was $1.3 billion.
  • Returns to shareholders totaled $611 million in the quarter, including $517 million in dividends and $94 million in share repurchases. The Company achieved its full-year share repurchase target of $500 million.

SUMMARY FINANCIAL RESULTS

 

Three Months Ended December 31

Three Months Ended September 30

In millions, except per share amounts

4Q19

As Reported

4Q183

Pro Forma

vs. SQLY

[B / (W)]

3Q19

As Reported

vs. PQ

[B / (W)]

Net Sales

$10,204

$12,008

$(1,804)

$10,764

$(560)

GAAP Income (Loss) from Continuing Ops, Net of Tax

$(2,310)

$531

$(2,841)

$347

$(2,657)

Operating EBIT¹

$1,033

$1,289

$(256)

$1,117

$(84)

Operating EBIT Margin¹

10.1%

10.7%

(60) bps

10.4%

(30) bps

Operating EBITDA¹

$1,746

$2,015

$(269)

$1,856

$(110)

GAAP EPS

$(3.14)

$0.68

$(3.82)

$0.45

$(3.59)

Operating EPS¹

$0.78

$1.07

$(0.29)

$0.91

$(0.13)

Cash Provided by Operating Activities – Continuing Ops

$1,920

$1,389

$531

$1,790

$130

1.

 

Op. EPS, Op. EBIT, Op. EBIT Margin and Op. EBITDA are non-GAAP measures. See page 13 for further discussion.

2.

 

Free cash flow is defined as cash flows from operating activities – continuing operations, excluding the impact of ASU 2016-15, less capital expenditures.

3.

 

Financial information for the three months ended December 31, 2018 was prepared on a pro forma basis and determined in accordance with Article 11 of Regulation S-X.

CEO QUOTE

Jim Fitterling, chief executive officer, commented on the quarter:

We experienced similar economic headwinds in the quarter as we have seen all year – especially in the industrial sector – which included price and margin compression, in part driven by additional industry supply and uncertain macros. Yet once again, the Dow team navigated these factors by leveraging our core strengths – feedstock flexibility, a lean cost structure, and leading positions in consumer-driven end-markets. Together, these enabled us to capture demand growth, excluding our Hydrocarbons & Energy business, while also delivering another year-over-year improvement in cash from operations.

We also deployed capital to strengthen our financial flexibility and to reward our owners, reducing debt by more than $1 billion and returning more than $600 million to shareholders. We enter 2020 in a stronger competitive and financial position, poised to continue to deliver value for our customers and shareholders.”

SEGMENT HIGHLIGHTS

Packaging & Specialty Plastics

 

Three Months Ended December 31

Three Months Ended September 30

In millions, except margin percentages

4Q19

As Reported

4Q18

Pro Forma

vs. SQLY

[B / (W)]

3Q19

As Reported

vs. PQ

[B / (W)]

Net Sales

$4,840

$5,898

$(1,058)

$5,062

$(222)

Operating EBIT

$648

$839

$(191)

$798

$(150)

Operating EBIT Margin

13.4%

14.2%

(80) bps

15.8%

(240) bps

Equity Earnings

$27

$37

$(10)

$23

$4

Packaging & Specialty Plastics net sales were $4.8 billion, down 18% versus pro forma results in the year-ago period. Volume declined 3%, driven primarily by lower hydrocarbon co-product sales that resulted from planned turnaround activity in Europe. Local price declined 14%, and currency decreased net sales by 1%.

Packaging and Specialty Plastics reported a net sales decline, driven by reduced polyethylene product prices. Volume grew 4% with increases in all geographic regions except Latin America, which was flat. The business reported a double-digit demand gain in Asia Pacific. The strongest end-market growth was reported in flexible food and specialty packaging, industrial and consumer packaging, and health and hygiene applications.

Hydrocarbons & Energy reported a decline in net sales with decreases in volume, price and currency. The volume decline was primarily due to planned turnaround activity in Europe, which led to reduced hydrocarbon co-product production and sales.

Equity earnings for the segment were $27 million, down from pro forma equity earnings of $37 million in the year-ago period. The decline was driven by lower earnings from the Kuwait and Thai joint ventures.

Operating EBIT was $648 million, down from pro forma results of $839 million in the year-ago period. Lower polyethylene margins and reduced equity earnings more than offset stranded cost savings and volume gains in the Packaging and Specialty Plastics business.

Industrial Intermediates & Infrastructure

 

Three Months Ended December 31

Three Months Ended September 30

In millions, except margin percentages

4Q19

As Reported

4Q18

Pro Forma

vs. SQLY

[B / (W)]

3Q19

As Reported

vs. PQ

[B / (W)]

Net Sales

$3,253

$3,777

$(524)

$3,365

$(112)

Operating EBIT

$221

$339

$(118)

$193

$28

Operating EBIT Margin

6.8%

9.0%

(220) bps

5.7%

110 bps

Equity Losses

$(45)

$(15)

$(30)

$(70)

$25

Industrial Intermediates & Infrastructure net sales were $3.3 billion, down 14% versus pro forma results in the year-ago period. Volume was flat, local price declined 13%, and currency decreased net sales by 1%.

Polyurethanes & Construction Chemicals reported a net sales decline as modest volume growth was more than offset by local price declines which included lower prices for polyurethane intermediates. The business reported volume growth in all geographic regions except the U.S. & Canada.

Industrial Solutions reported lower net sales, primarily driven by price declines in performance intermediates, including ethyleneamines and glycol ethers. The business reported a modest decline in volume, primarily in ethylene glycols, which more than offset growth in heat transfer fluids and pharmaceutical applications.

Equity losses for the segment were $45 million, down from pro forma equity losses of $15 million in the year-ago period, primarily due to margin compression in MEG at the Kuwait joint ventures.

Operating EBIT was $221 million, down from pro forma results of $339 million in the year-ago period, primarily due to margin compression in both businesses and lower equity earnings, partially offset by lower planned maintenance turnaround costs.

Performance Materials & Coatings

 

Three Months Ended December 31

Three Months Ended September 30

In millions, except margin percentages

4Q19

As Reported

4Q18

Pro Forma

vs. SQLY

[B / (W)]

3Q19

As Reported

vs. PQ

[B / (W)]

Net Sales

$2,035

$2,269

$(234)

$2,250

$(215)

Operating EBIT

$233

$201

$32

$200

$33

Operating EBIT Margin

11.4%

8.9%

250 bps

8.9%

250 bps

Equity Earnings

$2

$ –

$2

$2

$ –

Performance Materials & Coatings net sales were $2.0 billion, down 10% versus pro forma results in the year-ago period. Volume declined 1%, local price fell 8%, and currency decreased net sales by 1%.

Consumer Solutions reported a decrease in net sales on local price declines in all geographic regions, primarily driven by lower siloxanes prices. Demand contraction, particularly in automotive and consumer electronics end-markets, was partly offset by improved demand for siloxanes in Asia Pacific and the U.S. & Canada as well as volume growth globally in differentiated infrastructure applications.

Coatings & Performance Monomers reported lower net sales on declines in both local price and volume. Coatings volume declined, primarily driven by lower demand in the U.S. & Canada and Europe for architectural binders. Volume grew modestly in functional coatings, including liquid-applied sound damping and wood coatings. Performance Monomers reported volume declines in all geographic regions except Latin America, which was up modestly.

Operating EBIT was $233 million, up from pro forma results of $201 million in the year-ago period, partly due to lower costs in Coatings & Performance Monomers, which was impacted by an extended maintenance turnaround in the same quarter last year, as well as reduced propylene feedstock costs.

OUTLOOK

Building on the consistent execution of our operational playbook in 2019, we are well-positioned to navigate the market dynamics that have carried into 2020 by focusing on the actions in our control,” said Fitterling. “We will continue to advance our pipeline of higher-return, lower-risk investments, particularly in sectors closer to the consumer where demand conditions remain favorable. By taking advantage of our unique feedstock capabilities, we will maintain our competitive cost positions. We expect to further reduce our cost structure over the course of the year as we complete the stranded cost removal. And, we plan to direct our free cash flow toward a balance of debt reduction and returns to shareholders. Taken together, these actions will give us the ability to continue to advance our strategic and financial priorities, outperform the competition and drive value for all our stakeholders.”

Conference Call

Dow will host a live webcast of its fourth quarter earnings conference call with investors to discuss its results, business outlook and other matters today at 8:00 a.m. ET. The webcast and slide presentation that accompany the conference call will be posted on the events and presentations page of investors.dow.com.

About Dow

Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure and consumer care. Dow operates 109 manufacturing sites in 31 countries and employs approximately 36,500 people. Dow delivered sales of approximately $43 billion in 2019. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.

Cautionary Statement about Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance, financial condition, and other matters, and often contain words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “opportunity,” “outlook,” “plan,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “will be,” “will continue,” “will likely result,” “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements.

Forward-looking statements include, but are not limited to, expectations as to future sales of Dow’s products; the ability to protect Dow’s intellectual property in the United States and abroad; estimates regarding Dow’s capital requirements and need for and availability of financing; estimates of Dow’s expenses, future revenues and profitability; estimates of the size of the markets for Dow’s products and services and Dow’s ability to compete in such markets; expectations related to the rate and degree of market acceptance of Dow’s products; the outcome of certain Dow contingencies, such as litigation and environmental matters; estimates of the success of competing technologies that may become available and expectations regarding the benefits and costs associated with each of the foregoing.

Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Forward-looking statements are based on certain assumptions and expectations of future events which may not be realized and speak only as of the date the statements were made. In addition, forward-looking statements also involve risks, uncertainties and other factors that are beyond Dow’s control that could cause Dow’s actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. These factors include, but are not limited to: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; significant litigation and environmental matters; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, market uncertainty, interest and currency exchange rates, and equity and commodity prices; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war; weather events and natural disasters; ability to protect, defend and enforce Dow’s intellectual property rights; increased competition; changes in relationships with Dow’s significant customers and suppliers; unanticipated expenses such as litigation or legal settlement expenses; unanticipated business disruptions; Dow’s ability to predict, identify and interpret changes in consumer preferences and demand; Dow’s ability to complete proposed divestitures or acquisitions; Dow’s ability to realize the expected benefits of acquisitions if they are completed; the availability of financing to Dow in the future and the terms and conditions of such financing; and disruptions in Dow’s information technology networks and systems. Additionally, there may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business.

Risks related to achieving the anticipated benefits of our separation from DowDuPont Inc. include, but are not limited to, a number of conditions including risks outside the control of Dow including risks related to (i) Dow’s inability to achieve some or all of the benefits that it expects to receive from the separation from DowDuPont, (ii) certain tax risks associated with the separation, (iii) Dow’s inability to make necessary changes to operate as a stand-alone company, (iv) the failure of Dow’s pro forma financial information to be a reliable indicator of Dow’s future results, (v) Dow’s inability to enjoy the same benefits of diversity, leverage and market reputation that it enjoyed as a combined company, (vi) Dow’s inability to receive third-party consents required under the separation agreement, (vii) Dow’s customers, suppliers and others’ perception of Dow’s financial stability on a stand-alone basis, (viii) non-compete restrictions under the separation agreement, (ix) receipt of less favorable terms in the commercial agreements we entered into with E. I. du Pont de Nemours and Company n/k/a/ DuPont de Nemours, Inc.(“DuPont”) and Corteva, Inc. (“Corteva”), including restrictions under intellectual property cross-license agreements, than Dow would have received from an unaffiliated third party; and (x) Dow’s obligation to indemnify DuPont and/or Corteva for certain liabilities.

Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. For a more detailed discussion of Dow’s risks and uncertainties, see the section titled “Risk Factors” contained in Dow Inc. and TDCC’s combined Quarterly Report on Form 10-Q for the quarterly period ended October 25, 2019, in the Current Report on Form 8-K of Dow Inc. and TDCC, filed with the SEC on July 25, 2019, recasting portions of the TDCC 10-K for the fiscal year ended December 31, 2018, and in Part I, Item 1A of the Annual Report on Form 10-K of TDCC for the fiscal year ended December 31, 2018. Dow Inc. and TDCC assume no obligation to update or revise publicly any forward-looking statements whether because of new information, future events or otherwise, except as required by securities and other applicable laws.

Separation from DowDuPont

On April 1, 2019, DowDuPont Inc. (“DowDuPont” and effective June 3, 2019, n/k/a DuPont de Nemours, Inc. or “DuPont”) completed the separation of its materials science business and Dow Inc. became the direct parent company of The Dow Chemical Company and its consolidated subsidiaries (“TDCC” and together with Dow Inc., “Dow” or the “Company”), owning all of the outstanding common shares of TDCC. For filings related to the period commencing April 1, 2019 and thereafter, TDCC was deemed the predecessor to Dow Inc., and the historical results of TDCC are deemed the historical results of Dow Inc. for periods prior to and including March 31, 2019. The information in this report reflects the results of Dow and its consolidated subsidiaries, after giving effect to the distribution to DowDuPont of TDCC’s agricultural sciences business (“AgCo”) and specialty products business (“SpecCo”) and the receipt of E. I. du Pont de Nemours and Company and its consolidated subsidiaries’ (“Historical DuPont”) ethylene and ethylene copolymers business (other than its ethylene acrylic elastomers business) (“ECP”).

The separation was contemplated by the merger of equals transaction effective August 31, 2017, under the Agreement and Plan of Merger, dated as of December 11, 2015, as amended on March 31, 2017. TDCC and Historical DuPont each merged with subsidiaries of DowDuPont and, as a result, TDCC and Historical DuPont became subsidiaries of DowDuPont (the “Merger”). Subsequent to the Merger, TDCC and Historical DuPont engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products. Dow Inc. was formed as a wholly owned subsidiary of DowDuPont to serve as the holding company for the materials science business.

Unaudited Pro Forma Financial Information

In order to provide the most meaningful comparison of results of operations and results by segment, supplemental unaudited pro forma financial information has been included in the following financial schedules. The unaudited pro forma financial information is based on the consolidated financial statements of TDCC, adjusted to give effect to the separation from DowDuPont as if it had been consummated on January 1, 2017. For the twelve months ended December 31, 2019 and the three and twelve months ended December 31, 2018, pro forma adjustments have been made for (1) the margin impact of various manufacturing, supply and service related agreements entered into with DuPont and Corteva in connection with the separation which provide for different pricing than the historical intercompany and intracompany pricing practices of TDCC and Historical DuPont, (2) the removal of the amortization of ECP’s inventory step-up recognized in connection with the Merger, and (3) the elimination of the impact of events directly attributable to the Merger, internal reorganization and business realignment, separation, distribution and other related transactions (e.g., one-time transaction costs). The results for the three months ended December 31, 2019, are presented under accounting principles generally accepted in the United States of America (“U.S. GAAP”).

The unaudited pro forma financial information has been presented for informational purposes only and is not necessarily indicative of what Dow’s results of operations actually would have been had the separation from DowDuPont been completed as of January 1, 2017, nor is it indicative of the future operating results of Dow. The unaudited pro forma information does not reflect restructuring or integration activities or other costs following the separation from DowDuPont that may be incurred to achieve cost or growth synergies of Dow. For further information on the unaudited pro forma financial information, please refer to the Company’s Current Report on Form 8-K dated June 3, 2019.

Non-GAAP Financial Measures

This earnings release includes information that does not conform to U.S. GAAP and are considered non-GAAP measures. These measures include the Company’s pro forma consolidated results and pro forma earnings per share on an adjusted basis. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company’s segments, including allocating resources. Dow’s management believes that these non-GAAP measures best reflect the ongoing performance of the Company during the periods presented and provide more relevant and meaningful information to investors as they provide insight with respect to ongoing operating results of the Company and a more useful comparison of year-over-year results. These non-GAAP measures supplement the Company’s U.S. GAAP disclosures and should not be viewed as alternatives to U.S. GAAP measures of performance. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies.

Contacts

For further information, please contact:

Investors:
Neal Sheorey

nrsheorey@dow.com
+1 989-636-6347

Media:
Kyle Bandlow

kbandlow@dow.com
+1 989-638-2417

Read full story here

2020 Global Meningitis Diagnostics Market: US, Japan, France, Germany, Spain, Italy & the UK – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “2020 Global Meningitis Diagnostics Market: US, Europe, Japan – Supplier Shares, Sales Segment Forecasts, Innovative Technologies and Tests, Competitive Profiles and Strategies” report has been added to ResearchAndMarkets.com’s offering.

The report presents a detailed analysis of the Meningitis diagnostics market in the US, Europe (France, Germany, Italy, Spain, UK) and Japan. Current scientific views on the Meningitis definition, epidemiology and etiology are reviewed.

The report provides the 5-year test volume and sales forecasts by country for the following market segments:

  • Hospitals
  • Commercial/Private Labs
  • Physician Offices
  • Public Health Labs

For each country, in addition to test volume and sales projections, the report presents sales and market share estimates for major suppliers of Meningitis tests.

Also, the report examines the market applications of DNA Probes, Monoclonal Antibodies, Immunoassays, IT and other technologies; profiles leading suppliers and recent market entrants developing innovative technologies and products; and identifies emerging business expansion opportunities, alternative market penetration strategies, market entry barriers and risks, and strategic planning issues and concerns.

Companies Mentioned

  • Abbott
  • Affymetrix
  • Beckman Coulter/Danaher
  • Becton Dickinson
  • bioMerieux
  • Bio-Rad
  • Cepheid
  • Diamedix
  • DiaSorin
  • Eiken Chemical
  • Elitech Group
  • Enzo Biochem
  • Fujirebio
  • Grifols
  • GSK Biologicals
  • Hologic
  • Leica Biosystems
  • Lonza
  • Ortho-Clinical Diagnostics
  • PerkinElmer
  • Qiagen
  • Roche
  • Scienion
  • Sequenom
  • SeraCare
  • Siemens Healthineers
  • Takara Bio
  • Thermo Fisher
  • Wako

For more information about this report visit https://www.researchandmarkets.com/r/4pfdjy

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

2020 Global Chancroid Diagnostics Market: Supplier Shares, Sales Segment Forecasts, Innovative Technologies & Tests, Competitive Profiles & Strategies – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “2020 Global Chancroid Diagnostics Market: US, Europe, Japan – Supplier Shares, Sales Segment Forecasts, Innovative Technologies and Tests, Competitive Profiles and Strategies” report has been added to ResearchAndMarkets.com’s offering.

The report presents a detailed analysis of the Chancroid diagnostics market in the US, Europe (France, Germany, Italy, Spain, UK) and Japan. Current scientific views on the Chancroid definition, epidemiology and etiology are reviewed.

The report provides the 5-year test volume and sales forecasts by country for the following market segments:

  • Hospitals
  • Commercial/Private Labs
  • Physician Offices
  • Public Health Labs

In addition to test volume and sales projections, the report presents sales and market share estimates for major suppliers of Chancroid tests.

Also, the report examines the market applications of DNA Probes, Monoclonal Antibodies, Immunoassays, IT and other technologies; reviews features and operating characteristics of automated analyzers; profiles leading suppliers and recent market entrants developing innovative technologies and products; and identifies emerging business expansion opportunities, alternative market penetration strategies, market entry barriers and risks, and strategic planning issues and concerns.

Companies Mentioned

  • Abbott
  • Affymetrix
  • Beckman Coulter/Danaher
  • Becton Dickinson
  • bioMerieux
  • Bio-Rad
  • Cepheid
  • Diamedix
  • DiaSorin
  • Eiken Chemical
  • Elitech Group
  • Enzo Biochem
  • Fujirebio
  • Grifols
  • GSK Biologicals
  • Hologic
  • Leica Biosystems
  • Lonza
  • Ortho-Clinical Diagnostics
  • PerkinElmer
  • Qiagen
  • Roche
  • Scienion
  • Sequenom
  • SeraCare
  • Siemens Healthineers
  • Takara Bio
  • Thermo Fisher
  • Wako

For more information about this report visit https://www.researchandmarkets.com/r/342znr

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Iron Deficiency Anemia, Pipeline Review, H1 2020 – Akebia Therapeutics Inc, Novartis AG & Rockwell Medical Inc – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Iron Deficiency Anemia – Pipeline Review, H1 2020” drug pipelines has been added to ResearchAndMarkets.com’s offering.

Iron Deficiency Anemia – Pipeline Review, H1 2020

Summary

The latest Pharmaceutical and Healthcare disease pipeline guide Iron Deficiency Anemia – Pipeline Review, H1 2020, provides an overview of the Iron Deficiency Anemia (Hematological Disorders) pipeline landscape.

Anemia is a condition in which the body does not have enough healthy red blood cells. Iron helps make red blood cells. When body does not have enough iron, it will make fewer red blood cells or red blood cells that are too small. This is called iron deficiency anemia. Symptoms include feeling grumpy, headaches and problems concentrating or thinking. Treatment includes iron supplements and eating iron-rich foods.

Report Highlights

The Pharmaceutical and Healthcare latest pipeline guide Iron Deficiency Anemia – Pipeline Review, H1 2020, provides comprehensive information on the therapeutics under development for Iron Deficiency Anemia (Hematological Disorders), complete with analysis by stage of development, drug target, mechanism of action (MoA), route of administration (RoA) and molecule type. The guide covers the descriptive pharmacological action of the therapeutics, its complete research and development history and latest news and press releases.

The Iron Deficiency Anemia (Hematological Disorders) pipeline guide also reviews of key players involved in therapeutic development for Iron Deficiency Anemia and features dormant and discontinued projects. The guide covers therapeutics under Development by Companies /Universities /Institutes, the molecules developed by Companies in Pre-Registration, Phase III, Phase II, Phase I and Preclinical stages are 1, 4, 3, 2 and 4 respectively. Similarly, the Universities portfolio in Preclinical stages comprises 1 molecules, respectively.

Iron Deficiency Anemia (Hematological Disorders) pipeline guide helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage. The guide is built using data and information sourced from a proprietary databases, company/university websites, clinical trial registries, conferences, SEC filings, investor presentations and featured press releases from company/university sites and industry-specific third party sources. Additionally, various dynamic tracking processes ensure that the most recent developments are captured on a real time basis.

Scope

  • The pipeline guide provides a snapshot of the global therapeutic landscape of Iron Deficiency Anemia (Hematological Disorders).
  • The pipeline guide reviews pipeline therapeutics for Iron Deficiency Anemia (Hematological Disorders) by companies and universities/research institutes based on information derived from company and industry-specific sources.
  • The pipeline guide covers pipeline products based on several stages of development ranging from pre-registration till discovery and undisclosed stages.
  • The pipeline guide features descriptive drug profiles for the pipeline products which comprise, product description, descriptive licensing and collaboration details, R&D brief, MoA & other developmental activities.
  • The pipeline guide reviews key companies involved in Iron Deficiency Anemia (Hematological Disorders) therapeutics and enlists all their major and minor projects.
  • The pipeline guide evaluates Iron Deficiency Anemia (Hematological Disorders) therapeutics based on mechanism of action (MoA), drug target, route of administration (RoA) and molecule type.
  • The pipeline guide encapsulates all the dormant and discontinued pipeline projects.
  • The pipeline guide reviews latest news related to pipeline therapeutics for Iron Deficiency Anemia (Hematological Disorders)

Reasons to buy

  • Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
  • Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
  • Find and recognize significant and varied types of therapeutics under development for Iron Deficiency Anemia (Hematological Disorders).
  • Classify potential new clients or partners in the target demographic.
  • Develop tactical initiatives by understanding the focus areas of leading companies.
  • Plan mergers and acquisitions meritoriously by identifying key players and it’s most promising pipeline therapeutics.
  • Formulate corrective measures for pipeline projects by understanding Iron Deficiency Anemia (Hematological Disorders) pipeline depth and focus of Indication therapeutics.
  • Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and scope.
  • Adjust the therapeutic portfolio by recognizing discontinued projects and understand from the know-how what drove them from pipeline.

Key Topics Covered:

  • Introduction
  • Iron Deficiency Anemia – Overview
  • Iron Deficiency Anemia – Therapeutics Development
  • Iron Deficiency Anemia – Therapeutics Assessment
  • Iron Deficiency Anemia – Companies Involved in Therapeutics Development
  • Iron Deficiency Anemia – Drug Profiles
  • Iron Deficiency Anemia – Dormant Projects
  • Iron Deficiency Anemia – Product Development Milestones
  • Appendix

Companies Mentioned

  • Akebia Therapeutics Inc
  • Fe3 Medical Inc
  • Iron4u Aps
  • Jiangsu Aosaikang Pharmaceutical Co Ltd
  • MegaPro Biomedical Co Ltd
  • Novartis AG
  • Panion & Bf Biotech Inc
  • Pharmacosmos AS
  • Pieris Pharmaceuticals Inc
  • Rockwell Medical Inc
  • Shield Therapeutics Plc
  • Silarus Therapeutics Inc
  • Vifor Pharma Ltd

For more information about this drug pipelines report visit https://www.researchandmarkets.com/r/56ewv7

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

BrainStorm Receives Notice of Intention to Grant Additional EU patent for NurOwn®

NEW YORK, Jan. 29, 2020 (GLOBE NEWSWIRE) — BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of adult stem cell therapeutics for neurodegenerative diseases, today announced that the European Patent Office (EPO) has communicated its intention to grant a European patent titled ‘Methods of Generating Mesenchymal Stem Cells which secrete Neurotrophic Factors’. Allowed claims cover the method for manufacturing MSC-NTF cells (NurOwn®).

“We continue to protect our technology through strategic intellectual property achievements and the intention to grant this patent by the European Patent Office is a welcome addition to our IP portfolio. This patent covers the industrial manufacturing process for NurOwn® developed by Brainstorm’s scientists,” commented Brainstorm’s CEO Chaim Lebovits. “Adding this EU patent to our patents granted in the United States, Canada, Israel and Japan, should increase our ability to enter into new commercial partnerships for NurOwn in the EU and worldwide.”

About NurOwn®

NurOwn® (autologous MSC-NTF cells) represent a promising investigational approach to targeting disease pathways important in neurodegenerative disorders. MSC-NTF cells are produced from autologous, bone marrow-derived mesenchymal stem cells (MSCs) that have been expanded and differentiated ex vivo. MSCs are converted into MSC-NTF cells by growing them under patented conditions that induce the cells to secrete high levels of neurotrophic factors. Autologous MSC-NTF cells can effectively deliver multiple NTFs and immunomodulatory cytokines directly to the site of damage to elicit a desired biological effect and ultimately slow or stabilize disease progression. NurOwn® is currently being evaluated in a Phase 3 ALS randomized placebo-controlled trial and in a Phase 2 open-label multicenter trial in Progressive MS.

About BrainStorm Cell Therapeutics Inc.   

BrainStorm Cell Therapeutics Inc. is a leading developer of innovative autologous adult stem cell therapeutics for debilitating neurodegenerative diseases. The Company holds the rights to clinical development and commercialization of the NurOwn® Cellular Therapeutic Technology Platform used to produce autologous MSC-NTF cells through an exclusive, worldwide licensing agreement as well as through its own patents, patent applications and proprietary know-how. Autologous MSC-NTF cells have received Orphan Drug status designation from the U.S. Food and Drug Administration (U.S. FDA) and the European Medicines Agency (EMA) in ALS. Brainstorm has fully enrolled the Phase 3 pivotal trial in ALS (NCT03280056), investigating repeat-administration of autologous MSC-NTF cells at six sites in the U.S., supported by a grant from the California Institute for Regenerative Medicine (CIRM CLIN2-0989). The pivotal study is intended to support a BLA filing for U.S. FDA approval of autologous MSC-NTF cells in ALS. Brainstorm received U.S. FDA clearance to initiate a Phase 2 open-label multi-center trial of repeat intrathecal dosing of MSC-NTF cells in Progressive Multiple Sclerosis (NCT03799718) in December 2018 and has been enrolling clinical trial participants since March 2019. For more information, visit the company’s website.

Safe-Harbor Statement        

Statements in this announcement other than historical data and information, including statements regarding future clinical trial enrollment and data, constitute “forward-looking statements” and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc.’s actual results to differ materially from those stated or implied by such forward-looking statements. Terms and phrases such as “may”, “should”, “would”, “could”, “will”, “expect”, “likely”, “believe”, “plan”, “estimate”, “predict”, “potential”, and similar terms and phrases are intended to identify these forward-looking statements. The potential risks and uncertainties include, without limitation, BrainStorm’s need to raise additional capital, BrainStorm’s ability to continue as a going concern, regulatory approval of BrainStorm’s NurOwn® treatment candidate, the success of BrainStorm’s product development programs and research, regulatory and personnel issues, development of a global market for our services, the ability to secure and maintain research institutions to conduct our clinical trials, the ability to generate significant revenue, the ability of BrainStorm’s NurOwn® treatment candidate to achieve broad acceptance as a treatment option for ALS or other neurodegenerative diseases, BrainStorm’s ability to manufacture and commercialize the NurOwn® treatment candidate, obtaining patents that provide meaningful protection, competition and market developments, BrainStorm’s ability to protect our intellectual property from infringement by third parties, heath reform legislation, demand for our services, currency exchange rates and product liability claims and litigation,; and other factors detailed in BrainStorm’s annual report on Form 10-K and quarterly reports on Form 10-Q available at http://www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on BrainStorm’s forward-looking statements. The forward-looking statements contained in this press release are based on the beliefs, expectations and opinions of management as of the date of this press release. We do not assume any obligation to update forward-looking statements to reflect actual results or assumptions if circumstances or management’s beliefs, expectations or opinions should change, unless otherwise required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

CONTACTS

Corporate
Uri Yablonka 
Chief Business Officer 
BrainStorm Cell Therapeutics Inc. 
Phone: 646-666-3188 
uri@brainstorm-cell.com

Media:
Sean Leous
Westwicke/ICR PR
Phone: +1.646.677.1839
sean.leous@icrinc.com

AgraFlora Reports Construction at Winnipeg Edibles Facility to be Completed Within Next 60 Days

VANCOUVER, British Columbia, Jan. 29, 2020 (GLOBE NEWSWIRE) — AgraFlora Organics International Inc.  (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF), a growth oriented and diversified international cannabis company, is pleased to announce that construction at the Company’s industry-leading automated edibles manufacturing facility (the “Winnipeg Edibles Facility”) is expected to be completed in the next 60 days, with approximately 75% of the work having been completed. The Company anticipates the Winnipeg Edibles Facility will submit its Health Canada affirmation of readiness and video evidence package (the “Evidence Package”) shortly after completion of construction. The Company is working with industry-leading experts to manage the timing and quality of the Evidence Package Submission and expects the Standard Processing License to be granted at the Winnipeg’s Edibles Facility by summer 2020.

“Completing the construction and licensing of the Winnipeg Edibles Facility is a strategic priority for AgraFlora in 2020,” said Brandon Boddy, CEO of the Company. “Edibles have only been broadly available to Canadian consumers starting in 2020 and the industry is still struggling to manage quality and inventory levels. Our team in Winnipeg has a century of candy making experience, and our facility is designed to produce high-quality, consistently dosed edibles using smart automation investments to reduce costs as much as possible. Once licensed, we expect to be disruptive in the edibles space.”

The Winnipeg Edibles Facility is a state-of-the-art commercial scale edibles facility that features industry leading manufacturing equipment and automation for the production of cannabis edibles. The facility’s initial focus will be the production of THC and CBD infused cannabis gummies which management believes will be the largest category of cannabis edibles in Canada. The facility is designed and operated by the Company’s joint-venture partner holding nearly a century of confectionary manufacturing experience. The facility design, workflow and equipment will allow the production of cannabis edibles with unparalleled quality and consistency of dosing. In addition, strategic investments in automation will allow the Winnipeg Edibles Facility to reduce its operating costs. Some key facility highlights include:

  • Automated Manufacturing:  the custom developed confectionary line utilizes automated mixing, cooking and depositing systems to allow cannabis edibles to be produced from raw materials and cannabis inputs with little human intervention. This process reduces labour costs versus more manual manufacturing systems, increases throughput and increases product consistency.
  • Smart Recipe Management: the facility’s manufacturing equipment is all computer controlled with each recipe custom programed to the exact required specifications. This ensures that recipes are followed exactly, increasing the consistency and predictability of the final product.  In addition, the smart recipe management facilitates faster recipe changes, increasing the flexibility of the production line.
  • Pharmaceutical Grade Dose Management: consistent dosing of the cannabis edibles is vital to maintain regulatory compliance and consumer confidence. The equipment utilized by the Winnipeg Edibles Facility is pharmaceutical grade meaning it is capable of precisely dosing the edibles with cannabinoids. Furthermore, the best-in-class design means the cannabinoids are deposited into the edibles after the mixing and cooking process, removing the requirement to blend bulk batches of in-process edibles, which can create challenges to the maintenance of consistent dosing.
  • Rapid Batch Turn-Over: the depositing system utilizes a double-headed design which facilitates rapid switching between recipes. The system has been designed to facilitate this rapid turnover without creating a risk of cross-contamination between batches. This increases the facility’s flexibility to produce additional SKU’s as compared to a single-headed depositing system.
  • Robust Clean-In-Place Systems: the equipment has been fitted with an automated clean in place system that utilizes advanced systems to rapidly and effectively clean and sanitize the production equipment without disassembly or transportation to a cleaning bay. This will greatly reduce the labour required to maintain a sanitary production environment and increase daily throughput by reducing equipment downtime due to cleaning.

“We have seen in the data from the United States and the early sales in Canada that gummies are the preferred edible form factor, and our JV partner has circa 100 years of experience producing candy confectionaries such as gummies,” continued Brandon Boddy. “We’ve been strategic in our investments in automation to ensure our line is industry leading from a cost perspective, but also very flexible to accommodate different sizes of production run, flavours and cannabinoid contents. Over time, our equipment will allow us to branch out beyond gummies into chocolates, caramels, hard candies and more complex infused confections.”

About Edibles and Infusions Corporation

Edibles and Infusions Corporation operates a 51,000 square foot edibles manufacturing facility located in Winnipeg, Manitoba (the “Winnipeg Edibles Facility”). The Winnipeg Edibles Facility is equipped with over 30,000 square feet of dedicated edibles production space, as well as a 750 square foot pharmaceutical-grade research and development laboratory. Once activated, the Winnipeg Edibles Facility will be operated by a roster of third-generation chocolatiers/confectioners and includes manufacturing equipment capable of producing an assortment of both cannabinoid/terpene-infused products for medicinal, functional and adult use at scale. Edibles and Infusions holds a cannabis research licence from Health Canada under the Cannabis Regulations Act.

About AgraFlora Organics International Inc.

AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Services Canada Inc. and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company is also retrofitting a 51,500-square-foot good manufacturing practice (“GMP”) edibles manufacturing facility in Winnipeg, Manitoba. AgraFlora has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: www.agraflora.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Brandon Boddy
Chairman & CEO
T: (604) 398-3147 

For additional information:
AgraFlora Organics International Inc.
Tim McNulty
E: ir@agraflora.com
T: (800) 783-6056
For French inquiries:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca 
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for AgraFlora Organics described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.