OWC Pharmaceutical Research Corp (OTCMKTS:OWCP)
OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) is reaping big rewards from their recently announced positive efficacy results of its pre-clinical psoriasis treatment. Following the positive results, the company has been receiving expressions of interest from medical and scientific communities around the world. OWCP is based in Israel and specializes in the development of cannabinoid-based therapies for treatment of several medical conditions and disorders.
The company recently announced positive data for its active cannabinoid-based topical cream which showed a 70% rate of improvement in several inflammation markers directly linked to Psoriasis. Due to the positive results, the company has expanded the scope and size of the clinical study.
According to OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) Managing Director Mr. Ziv Turner, the company has received inquiries from countries like Czech Republic and Germany among other countries which have adopted, or are in the process of adopting, Medical Marijuana Bills.
In what must be considered good news for shareholders, OWC Pharmaceutical Research Corp seems to be keen on harnessing this market excitement. The company is currently seeking a number of marketing and scientific agreements for the product’s commercialization – expected to be ready by Q3 2017 but subject to securing the necessary regulatory approvals.
OWC Pharmaceutical Research Corp (OTCMKTS:OWCP) has announced signing an agreement with mediq Innovation Partners for marketing of the cream in the German market. Mediq, based in Frankfurt, Germany, is experienced in opening European markets for Israeli-based companies. In the agreement, mediq will be tasked with securing scientific collaboration as well as commercialization of the cream in the Germany.
Mediq’s managing director, Jan Wende, has resources in place and will be capitalizing on their ground presence and market experience to successfully roll out the product on behalf of OWCP. Germany is one of the countries that have opened the window for use of medical marijuana. Additionally, it is the largest healthcare market in Europe, hence offers the perfect platform to roll out the product and help to gain local approval in other European countries.
Psoriasis is an autoimmune skin infection that manifests in form of red, scaly patches and always linked to other serious health complications like heart disease, diabetes and depression. It causes abnormal growth of skin cells causing growth of lesions that have a burning and itching sensation. The disease affects 7.5 million people in the U.S according to data from the National Psoriasis Foundation.
OWC Pharmaceutical Research Corp (OTCMKTS:OWCP)’s stock reported a slight drop of -$0.015 or -2.08% in the Thursday trading session to trade at $0.705 per share. A total of 430,618 shares were traded during the session.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.