VANCOUVER, British Columbia, Aug. 26, 2022 (GLOBE NEWSWIRE) -- LOVE Pharma (CSE:LUV) (FSE:G1Q0), an international sexual health and wellness company, has provided a shareholders’ update.
Zach Stadnyk, CEO, stated: “We welcome this opportunity to provide our shareholders with a comprehensive picture of Love's efforts in building upon its existing portfolio and establishing its future strategic imperatives. Building upon LOVE's existing product portfolio, which is primarily over the counter, the Company's strategic imperative is aimed at positioning LOVE as a leader in the area of addiction treatment and recovery, within the pharmaceutical space. LOVE is actively working to identify and assess biotechnology and pharmaceutical solutions to address addiction, with intent to grow its pharmaceutical presence in underserved addiction treatment market.”
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One of the highlights of the company’s involvement in the addiction treatment market is its partnership with researchers at John Hopkins University, announced in March. This involves a comprehensive study relating to the efficacy of psilocybin assisted treatment for cannabis use disorder, which aligns with key principles in Love Pharma's strategy as it aims to develop innovative products that establish new consumer applications, based upon science and efficacy. Pharmaceutical applications for addiction and recovery treatment represent a growing market, including in the cannabis space, where the Johns Hopkins research initiative is focused.
The numbers behind the growth in cannabis use and the related increase in cannabis use disorder are staggering.
According to research from the United Nations, 209 million marijuana users were reported globally in 2020, with a trend that has been steadily increasing since 2010. The Center for Disease Control and Prevention reported: “One study estimated that approximately 3 in 10 people who use marijuana have marijuana use disorder, meaning that they are unable to stop using marijuana even though it is causing health and/or social problems in their lives.”
A Research Report published by The National Institute on Drug Abuse stated: “Currently, the FDA has not approved any medications for the treatment of marijuana use disorder.”
The American College of Clinical Pharmacy Journal reported that current treatments, such as cognitive behavioral therapy, fail to maintain cannabis abstinence in patients, stating: “Psychotherapeutic treatments are the most widely studied and have demonstrated effectiveness in reducing frequency and quantity of use, but abstinence rates remain modest and decline after treatment.”
The World Health Organization noted: “Cannabis is the most commonly used psychoactive substance under international control, and that there is increasing demand of treatment for cannabis use disorders."
Zach Stadnyk, CEO, added: “We are looking forward to officially kicking-off our research initiative with the university this coming Fall and updating our shareholder community as we achieve milestones, for which there is no guarantee. Assuming our relationship with the researchers’ university is successful, it will allow the company to further develop its bond with the world-renowned institution and advance further clinical research initiatives.”
The company is preparing to launch the sales of its two primary products, BLOOM, a topical female stimulation gel that enhances blood circulation, improving lubrication and heightening sensations, and Auralief, a patent pending, fast-acting oral strip that discreetly delivers 20 mgs of CBD when dissolved under the tongue. With effects in as little as 15 minutes, these paper-thin strips offer a user-friendly method of delivering the benefits of CBD to provide temporary relief from pain, anxiety, stress, and inflammation.
The company recently acquired Doc Hygiene, with its established brand of DOC HYGIENE™ single-use hand sanitizing packets that meet FDA standards and exceed the recommended CDC guidelines for healthy hygiene. Doc Hygiene gives the company a strong IP along with a comprehensive e-commerce platform.
With e-commerce platforms in the process of being activated, following final testing, and initial product inventory produced and ready for sale, B2C sales are scheduled to commence in the coming weeks. With a drop ship warehouse established for fulfillment, the company will initially focus upon the B2C market to be followed with B2B clients, where larger sales volumes are anticipated in the future.
The company is well funded, having recently raised more than $2 million, with its shares currently trading at $0.03. In order to grow its shareholder base, the company is in the process of applying for an OTC listing in the United States.
For more information, please visit the company’s website www.love-pharma.com, contact Zach Stadnyk, CEO, at 604-343-2977 or by email at investors@love-pharma.com.
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