- Millions worldwide affected by sleep disorders
- Sleep disorder market set to exceed $50 billion by 2020
- New marketing initiative kicks off with engagement of IR firm
- Updated Crystal Equity Research report now available
Counting sheep may soon be a thing of the past, for PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) has been awarded a worldwide license to manufacture, distribute and market three Health Canada-approved sleep aids (http://cnw.fm/K2s5q). This milestone could not have come at a better time. Sleeping disorders affect around 40 percent of adults in Canada (approximately 15 million), according to a study conducted at the Université Laval, and the same unhappy state of affairs exists in the U.S. The America Sleep Association (ASA) estimates that at least 50 million American adults have a sleep disorder. All three of the products have undergone thorough testing and meet or exceed the requirements of the European Pharmacopoeia and Health Canada.
The Canadian study was led by Dr. Charles M. Morin, known for his work developing non-pharmacological therapies, such as cognitive-behavioral therapy (CBT), to treat insomnia. After surveying some 2,000 Canadians (http://cnw.fm/5YcjS), Morin’s team found that “40% of respondents had experienced one or more symptoms of insomnia at least three times a week in the preceding month, i.e., taking more than 30 minutes to fall asleep, being awake for periods longer than 30 minutes during the night, or waking up at least 30 minutes before they had planned. Moreover, 20% of the participants said they were unsatisfied with the quality of their sleep, and 13.4% of respondents displayed all the symptoms required to diagnose insomnia.”
Such alarming statistics point to an underserved market, despite the plethora of sleep aid products available. “Americans spent an estimated $41 billion on sleep aids and remedies in 2015, and that’s expected to grow to $52 billion by 2020”, according to figures cited by Consumer Reports (http://cnw.fm/tFi8D).
The three Natural Health Products (NHPs) to be manufactured and marketed under the Licensing Agreement with Asterion Cannabis Inc. are ‘Blissful Sleep’, ‘Blissful Sleep Ex.’ and ‘Skullcap Serenity’. The deal allows PRVCF to use Asterion’s intellectual property (IP) to make or have made, use, distribute, sell, offer to sell and promote the products for an initial term of five years, renewable for five consecutive one-year terms. PreveCeutical will pay Asterion a royalty equal to 20 percent of the gross product sales.
The ingredients of the products under license are some traditionally used in herbal medicine as non-addictive sleep aids. Blissful Sleep and Blissful Sleep Ex contain hops (Humulus lupulus) and root of valerian (Valeriana officinalis), while Skullcap Serenity contains powdered or extracted American Skullcap (Scutellaria lateriflora) leaves. Skullcap Serenity’s ingredients have been used in the past to calm nervousness and alleviate pain associated with menstrual cramps. For consumers using cannabis to relieve anxiety or to aid sleep, the products can be used as complementary therapies.
A recently released update of coverage for PreveCeutical is available at Crystal Equity Research (http://cnw.fm/Fxvl1).
For more information, visit the company’s website at www.PreveCeutical.com
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