Miami based Omni Health, Inc., (OTC: OMHE), a healthcare company developing cannabis-based pain and anti-aging products, announced its plan last December 2017 to create a drug candidate “compelling to Big Pharma.”
Omni claimed to have started the process of reformulating its proprietary formularies to include cannabidiol (CBD), and to begin its FDA Medical Devices registration for topical pain analgesic. Omni Health’s intent is to “capitalize on a significant potential for cannabinoid bio therapeutics to transform the treatment of chronic pain and other debilitating conditions, and bring a product to the market with a strong demand and reimbursable under government payors and major insurance plans.”
However, little has been revealed since then by the company to let the pubic know its progress.
Its December 2017 update by CEO Andrey Soloviev continued: “By employing an FDA regulations-savvy, ‘fast-track’ pipeline strategy, Omni Health will quickly be in a position to partner our new drug for late-phase development…Our projections set this target date at roughly three years out. It will be a strong competitor in a lucrative medicinal niche populated by a limited number of pain management products at exponentially higher valuations. Peer analysis shows these valuations to be in the range of $100 million to $140 million.”
“Additionally, Omni Health is in the final stages of development of non-prescription CBD analgesic creams and ointments with fast absorption properties which we are able to rapidly deploy to the market.
“Simultaneous to the FDA application for this new drug, Omni will commence by manufacturing OTC analgesic creams and ointments containing CBD with rapid absorption and optimal bioavailability profiles. Given the potency of these analgesics, they will be marketed and distributed exclusively to doctors’ offices, clinics, and hospitals to ensure appropriate patient support and product usage. As per the current schedule, it’s anticipated they this product will be introduced to the North American market during Q3 2018. Based on current market trends and competitor analysis, Omni Health projects generating a recurring annual revenue exceeding $7 Million.
“The Global Market for Pain Management will grow from nearly $36.1 Billion in 2017 to $52.0 Billion by 2022 and the Cannabidiol (CBD) market is estimated to grow by 700% by 2020”, concluded Andrey Soloviev, “As such, there is a unique potential for Omni Health to truly seize the day by bringing the first FDA registered CBD pain analgesic to the market”
After this very rosy company update, Omni has released very little news. It continues to occasionally release additional claims, but rarely follows up with progress on previous claims. We hope the company starts to communicate regularly and transparently with its shareholders and the investing public.
Source Omni press release December 2017