PharmaTher Secures FDA Approval for KETARx™ Ketamine Therapy
PharmaTher Achieves FDA Approval for KETARx™
PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) is thrilled to announce the approval of KETARx™, its innovative ketamine-based product, by the U.S. Food and Drug Administration (FDA). This landmark achievement is a game-changer in surgical pain management and establishes PharmaTher’s standing as a key player in the burgeoning psychedelic pharmaceutical market.
CEO's Vision for the Future
Fabio Chianelli, the driving force behind PharmaTher and its CEO, expressed his enthusiasm regarding this monumental achievement. He stated, "Today marks a new chapter for PharmaTher. Having secured FDA approval for KETARx™, we are poised to become a global leader in the ketamine pharmaceutical sector." His comments underscore the Company’s dedication to leveraging ketamine's potential across various therapeutic areas, particularly in addressing mental health, neurological issues, and pain management.
The Expanding Ketamine Market
Ketamine is unique in the world of psychedelics. It holds a distinguished place on the World Health Organization's Model List of Essential Medicines, which recognizes its importance. The global market for ketamine is currently valued at around $750 million and is projected to soar to $3.42 billion by 2034, representing an impressive compound annual growth rate of 16.4%. With the success of related products, such as SPRAVATO® (esketamine), which is expected to generate significant revenue, the landscape for ketamine-based therapies is filled with potential.
Strategic Development Areas
Part of PharmaTher’s strategy includes developing KETARx™ to target a broad spectrum of therapeutic avenues. These include tackling mental health conditions such as depression and neurodegenerative disorders like Parkinson's disease and Amyotrophic Lateral Sclerosis (ALS). Additionally, KETARx™ is positioned to address chronic and rare pain management issues, including Complex Regional Pain Syndrome (CRPS).
The Urgent Need for Reliable Ketamine Supply
Since February 2018, ketamine has consistently appeared on the FDA’s drug shortage list. This situation has led to a pressing need for a reliable supply of high-quality ketamine products. The FDA issued a risk alert highlighting concerns around compounded ketamine products and their use in psychiatric treatment, emphasizing the importance of approved therapies like KETARx™.
Supporting Mental Health Initiatives for Veterans
The focus on mental health support extends to veterans, who often face significant challenges related to PTSD, chronic pain, and depression. The Veterans Health Administration has endorsed and funds ketamine infusions, recognizing their effectiveness for military personnel. This initiative aligns with the larger mission of expanding legal access to psychedelic therapies to provide comprehensive relief for those in need.
Looking Ahead with Confidence
The FDA’s approval of KETARx™ reinforces PharmaTher’s commitment to innovation in the pharmaceutical sector. Recent initiatives by FDA Commissioner Marty Makary to expedite access to effective treatments imply that KETARx™ may enjoy further regulatory support, enhancing its availability for patients.
About PharmaTher Holdings Ltd.
PharmaTher Holdings Ltd. is dedicated to unlocking the pharmaceutical benefits of ketamine for mental health, neurological, and pain disorders. As they move forward with KETARx™, the Company remains committed to improving patient outcomes and advancing therapeutic options.
For any inquiries concerning PharmaTher Holdings Ltd., please reach out to:
Fabio Chianelli
Chief Executive Officer
PharmaTher Holdings Ltd.
Tel: 1-888-846-3171
Email: info@pharmather.com
Website: www.pharmather.com
Frequently Asked Questions
What is KETARx™?
KETARx™ is PharmaTher's ketamine-based product intended for managing surgical pain and potentially addressing various mental health disorders.
How does FDA approval impact PharmaTher?
FDA approval is a significant milestone that validates PharmaTher's efforts and opens doors for expanded clinical development and market opportunities.
What are the benefits of ketamine in mental health?
Ketamine has shown promise in treating mental health conditions like depression and PTSD by providing rapid relief for some patients.
Is there a shortage of ketamine products?
Yes, ketamine has frequently appeared on the FDA's drug shortage list, highlighting the need for reliable sources of this medication.
What is the future outlook for ketamine therapies?
The global ketamine market is projected to grow significantly, fueled by increasing acceptance of its use in mental health treatment and pain management.
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