TORONTO, Sept. 9, 2020 /CNW/ – The former heads of Canada’s most recognized domestic pharmaceutical companies have united to help combat the mental health crisis expected to impact Canadians long after the COVID-19 pandemic.
EmpowerPharm Inc., the first wholly Canadian owned and operated pharmaceutical company established in Canada in recent years, is ushering in a new era for prescription medicine. The early-stage company has identified the growing need for innovative therapies to treat anxiety and is developing a first-of-its-kind prescription drug containing synthetic CBD as the Active Pharmaceutical Ingredient (API) manufactured as tablets to treat anxiety.
Pending the results of the clinical research, Empower CBDTM may help the hundreds-of-thousands of Canadians who suffer from anxiety, an issue that continues to skyrocket in the wake of the COVID-19 pandemic. This will ‘Empower’ sufferers to use an alternative treatment to avoid the potentially addictive prescription products currently prescribed for anxiety.
A CAMH report from mid-July reported that 25% of Canadians aged 18-39 and 19% aged 40-59 continue to experience moderate to severe anxiety. Meanwhile, a Deloitte study released in August estimates Canadians will face a potentially explosive increase of mental illness for up to 10 years after the pandemic is over.
EmpowerPharm is led by three prominent leaders who pioneered Canada’s generic pharmaceutical industry, helped scale the industry globally and created thousands of Canadian jobs. Each member of the senior management team brings an average 30 years of industry experience to the company.
EmpowerPharm Inc. is helmed by:
- Aubrey Dan, O.C. – Executive Chairman & Co-Founder: Former pharmaceutical executive at Novopharm Ltd., President of Wampole Canada Inc. and Order of Canada recipient
- Peter Billiaert – President & Co-Founder: Former Vice President with Novopharm Ltd. and Teva Pharmaceuticals
- Jack Kay – Vice Chairman: Former President and CEO of Apotex Inc.
EmpowerPharm recently completed a $26 million-dollar construction of the first Canadian GMP-ready facility for the manufacture of pharmaceutical CBD. The Burlington, Ontario facility awaits Health Canada inspection as one of the final steps to receiving its Drug Establishment License (DEL).
The synthetic CBD (API) used in Empower CBDTM tablets will be 99% pure with zero THC, and will be approved by national regulatory authorities including Health Canada and the FDA based on robust clinical evidence.
Once clinical research has been completed and proven to be effective, Empower CBDTM will seek a Drug Identification Number (DIN) from Health Canada. The prescription medicine will be sold exclusively through pharmacies or dispensed in hospitals by qualified health professionals. EmpowerPharm will pursue both private and public coverage, ensuring that treatment costs for many patients will be reimbursed by insurance companies and/or provincial drug plans for wide patient accessibility.
Canada is trailblazing a new era in treatment options for anxiety!
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