Tetra Bio-Pharma Looks to Make Cannabis Affordable
December 6th, 2016
News, Top News
Tetra Bio-Pharma Looks to Make Cannabis Affordable
Medical cannabis may be legal throughout Canada and nearly 30 U.S. states, but patients cannot always easily access the drug. The lack of clinical trials has left many physicians unwilling to prescribe the medicine, while insurance companies provide little to no coverage. Patients must pay hundreds of dollars per month out-of-pocket for access to the drug, which can be a prohibitive amount for many families – including those with the greatest need.
In this article, we will take a closer look at how Tetra Bio-Pharma Inc. (OTC: GRPOF) (CSE: TBP) could change these dynamics and make medical cannabis more affordable to everyone.
Taking a Unique Approach
Tetra Bio-Pharma is conducting clinical trials in Canada to demonstrate the safety and efficacy of cannabis in treating a range of conditions. The company is following all appropriate FDA guidelines to allow for approval in the United States. Unlike many of its competitors, the company is developing biopharmaceuticals incorporating the actual cannabis plant rather than making pharmaceuticals with synthetic compounds. This approach results in both a lower cost and a more sure-fire path to regulatory approval given the large body of existing data within the medical cannabis industry.
The company’s PPP001 is an inhaled product that consists of medical marijuana and a titanium pipe that are linked by the labeling of each component. Once approved, the company hopes to sell the product in pharmacies as a blister pack where each blister contains marijuana with a standardized amount of tetrahydrocannabinol (THC) and cannabidiol (CBD). The pipe would provide combustion and the inhaled smoke would be the delivery mechanism.
In November, the company announced that the U.S. Food and Drug Administration (FDA) completed a review of its inhalation-based medical marijuana program. The agency confirmed that the product is a combination product and assigned it to the Center for Drug Evaluation and Research (CDER) as the lead agency center for premarket review and regulation based on its determination of marijuana’s primary mode of action.
CFN recently interviewed Co-Founder and VP of Development Ryan Brown to discuss the company’s strategy within the cannabis industry:
Attractive Business Model
Tetra Bio-Pharma aims to seek reimbursement from insurance companies to make medical cannabis more affordable for patients. In addition, an approved product would be more widely accepted among physicians looking for solid clinical data to support their decisions. The combination of these factors could translate to a significantly larger market than what currently exists across both the United States and Canada.
The company’s Canada-based operations provide another advantage over many other companies operating in the space. While the cost of FDA/DEA approved medical marijuana can be upwards of $100,000 per kilogram in the U.S., the company’s agreement with a leading Canadian licensed producer means that it can acquire product at less than $3,000 per kilogram and readily access ancillary services like processing and packaging.
The United States represents the largest market for approved medical marijuana products. The country’s opioid industry generates more than $75 billion in annual revenue, according to a study published in the October issue of Medical Care, but nearly two million Americans abuse these drugs and more than 160,000 die from overdose each year. Medical cannabis’ potential in this market alone represents an enormous opportunity.
Canada’s pharmaceutical market also remains very large despite the federal approval of medical marijuana under the MMPR. According to Health Canada, the country’s medical cannabis industry could generate upwards of C$1.3 billion in sales by 2020. The company’s move to secure insurance reimbursement and clinical data could create even more value by making it easier for patients to access the drug, which translates to a significant market opportunity.
Tetra Bio-Pharma trades with a market capitalization of just C$22 million, which is a fraction of many other companies operating in the space. Investors looking for a unique approach to the market may want to check out the company as it proceeds with preclinical filings with the FDA and builds a path toward regulatory approval. If successful, the company could unlock significant value for shareholders in the U.S. and Canada.
For more information, visit the company’s website at www.tetrabiopharma.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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