Tuesday, May 30th, OWCP put out an 8K with the headline that they’ve “Entered Into a Strategic Relationship With Germany-Based mediq Innovation Experts”.
First thing I did was look to their website for more details about who they are. Turns out they’ve been in business for 10 years — which I could also confirm by seeing that they bought their domain name back in 2007.
The 8K starts by stating that the purpose of this agreement was to introduce the Psoriasis Cream to the German market. They go onto telling us that mediq “has extensive experience, knowledge and a successful track record in enabling Israel-based companies to penetrate the European markets. mediq’s objectives for OWCP will consist of both scientific collaboration and most importantly the development of a commercial market for OWCP’s proprietary, active cannabinoid-based topical psoriasis cream in Germany.”
Jan Wende, managing director of mediq stated, “We are looking forward to initiating our efforts on behalf of OWCP in Europe, starting in our home market of Germany. Since German laws and regulations allow non-smokable forms of medical cannabis, we believe that OWCP’s proprietary cannabinoid-based topical psoriasis cream is the right product at the right time. Furthermore, Germany is the largest European healthcare market and therefore offers the perfect platform to gain local evidence and roll out the concept into other European countries. Our initial focus for OWCP is on the German market, however we’re excited about the long-term opportunities throughout Europe, a market with a population of over 740 million.”
Alon Sinai, OWCP Managing Director, went onto say, “The German market is a great opportunity for OWCP. Germany, with its population of over 81 million, and a gross domestic product of over US$3.36 trillion is the largest economy in Europe. Also, potentially beneficial to OWCP is Germany’s recent medical cannabis legislation, which currently limits the usage of smokable-products, and which also provides for reimbursement for medical cannabis by the country’s healthcare system. mediq is a great partner for OWCP, and we’re looking forward to the prospects of a long-term and mutually relationship with the company both regarding the introduction of OWCP’s cannabinoid-based psoriasis cream in the German marketplace, but also for the prospects for scientific collaboration in the country.”
At that point, the 8K typically just breaks down the generic “about” info for OWCP and then mediq, but they do remind us about the 70% improvement in a variety of inflammation markers with the Psoriasis Cream.
Tomorrow, we should see much better volume. I absolutely feel there’s more news coming in June, as there are many things the company needs to update shareholders on once they’ve had a chance to execute.
Patience, folks. It will pay. (In my honest opinion, of course.)