SANDUSKY, Ohio , Sept. 17, 2020 /PRNewswire/ -- PAO Group, Inc. (USOTC: PAOG) today highlighted recent increased interest in the resurgence of industry wide pharmaceutical research and manufacturing in Puerto Rico.
PAOG is currently in discussions in to engage a Contract Research Organization (CRO) in Puerto Rico to advance an Investigational New Drug Application (IND) to ultimately achieve Food and Drug Administration (FDA) approval for PAOG's RespRx as a COPD treatment.
The COPD treatment, RespRx, is derived from a patented cannabis extraction method - U.S. Patent No. 9,199,960 entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT."
In an initial scientific evaluation as a treatment for COPD, RespRx has demonstrated effecting significant increases in respiration rate, tidal volume and inspiratory air flow rate. Overall data from the evaluation demonstrated that RespRx can significantly improve inspiratory lung functions in instances of moderate pulmonary fibrosis.
Puerto Rico has a long, vital history in pharmaceutical research and manufacturing that is now the focus of a reboot trend PAOG aims to capitalize upon. Puerto Rico's pharmaceutical industry took a back seat for a time to an offshoring trend. The COVID-19 pandemic is adding new motivation to the existing initiative in Puerto Rico to ramp up pharmaceutical industry activity.
Packaging Industry Digest reported, "The current COVID-19 pandemic has exposed a serious national security issue with this type of offshoring. Our pharmaceuticals come largely from outside the US, mostly from China (see chart below) and India. Many that are still made in the US rely on imported Active Pharmaceutical Ingredients (APIs). Many inactive ingredients are imported as well. Excessive reliance on imports puts us at serious risk as a nation. Should we disagree on tariffs, politics, or anything else, these other countries have immense leverage to squeeze our healthcare system."
Packaging Industry Digest described the current state of Puerto Rico's pharmaceutical industry reboot: "Puerto Rico still has a vibrant pharmaceutical industry. Many top global companies — Amgen, Eli Lilly, Bristol-Myers Squibb, Johnson & Johnson, Merck, Abbvie, Pfizer, Glaxo, and others — have major facilities here. Some have more than one plant. Companies — such as Boehringer-Ingleheim, Glaxo, Romark, and others — are setting up shop or returning to the Commonwealth. Others are expanding existing facilities."
Tomorrow, Friday, September 18, 2020, PAOG CEO James C. DiPrima will discuss in an interview with Donald Baillargeon of MoneyTV, PAOG's overall approach to engaging a Contract Research Organization (CRO) to advance an Investigational New Drug Application (IND) to ultimately achieve Food and Drug Administration (FDA) approval for PAOG's RespRx as a COPD treatment.
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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SOURCE PAO Group, Inc.