TORONTO, Feb. 6th, 2019 Abacus Health Products, Inc (CSE: ABCS) (“Abacus”) announced today that it is launching an advanced skincare line, within its CBDMEDIC family of products, for the treatment of Acne, Eczema, and Itch & Rash. All products utilize FDA monograph Active Pharmaceutical Ingredients, cannabinoids, and are blended with natural and organic ingredients.
This new line of CBDMEDIC products will include four new topical products, including ointments, creams and facial cleansers for Acne, Eczema and Itch & Rash. The market for Acne was estimated to be US$1.4 billion in 2018 by [Grand View Research] while Eczema is one of the most common skin conditions with more than 30 million people in the US alone having some form of this condition. The market for chronic pruritis (skin itching) was estimated to be [•] $ in 2018.
Abacus continues to be focused on establishing strong relationships with, and distribution by, retail pharmacy, mass and grocery store markets, and to support sales through its e-commerce platform. Abacus expects to start selling through these channels in 2019 and for the retail pharmacy channel to be a key distribution channel and a driver of sales.
“The ability of Abacus to develop and launch new pipeline products such as our new skincare and treatment line is a reflection of our pharmaceutical heritage and capabilities and a testament to over a decade of research and investment in formulation optimization” said Abacus CEO, Perry Antelman. “We continue to lead the market in the commercialization of OTC products, blended with cannabinoids and natural ingredients, for the treatment of medical indications for which there is a significant market need.”
About Abacus Health Products, Inc.
Abacus is a company engaged in the development and commercialization of over-the-counter (OTC) FDA-registered topical medications which contain organic and natural ingredients, including CBD, a cannabinoid-rich hemp extract from Cannabis sativa L plant. The products of Abacus are aimed at the rapidly growing markets for topical pain relief and skin care and are based on proprietary patent-pending technologies developed by Abacus. Abacus’ formulations combine advanced science with organic and natural ingredients to provide safe relief. All products commercialized by Abacus are registered with the FDA and utilize FDA-approved
ingredients. Abacus currently offers two lines of products: (i) CBD CLINIC, marketed to the professional practitioner market, and (ii) CBDMEDIC, marketed to the consumer market. Abacus is also developing a pipeline of other CBD products addressing additional medical indications and targeting the health and wellness segments. The products of Abacus are currently offered across the United States and are produced in an FDA-compliant and audited manufacturing facility.
CBDMEDIC Skincare, Beauty and First Aid Line of Products, February 2019
CBDMEDIC Family of Products, February 2019
Forward Looking Information contained in this release is made as of the date hereof and the Company assumes no obligation to update or revise any forward looking statements or forward-looking information that are incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Additional information about the risks and uncertainties is contained under “Risk Factors” in the Listing Statement, which is available under the Company’s SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. The foregoing statements expressly qualify any forward-looking information contained herein. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
For further information: please contact Hank Hague, CFO, of the Company, at 416-848-1457 or