Khiron (KHRN.V) has been backed by the Colombian Association of Gerontology and Geriatrics (CAGG), bolstering the company’s reach with the key demographic of Latin American seniors.
A May 2019 University of Colorado study found cannabis use among U.S. seniors increased tenfold over a decade, and over one million Colombian seniors say they suffer from chronic pain, anxiety, depression or are receiving palliative care.
The year-long, and exclusive, agreement between involves Khiron’s medical leadership team presenting at the association’s annual medical congress and outreach programs with health care professionals specialized in treating seniors.
“International studies in medical cannabis use among seniors, such as the one undertaken by the University of Colorado, along with our own research, affirm the potential of addressing the seniors’ market as part of our strategy to focus on the patient community in Latin America. This relationship with CAGG increases our ability to deepen interactions with health professionals in the field and to educate on the potential benefits of prescribing medical cannabis to patients.”
–Martha Edith Oyuela, Khiron Health VP
The endorsement gives Khiron further integration into another specialized field of medicine, giving them access to specialists in such fields as orthopedics and internal medicine.
CAGG is a non-profit association committed to improving the implementation of geriatrics and gerontology at every level of health care services.
The University of Colorado study also highlighted lingering stigma and communication issues with doctors as barriers which prevent American seniors from receiving cannabis treatments.
“As valuable global research into the potential benefits of medical cannabis for seniors’ care grows, Khiron’s medical cannabis leadership and expertise will play an important role in increasing treatment awareness among our members and the wider medical community in Colombia.”
–Javier Cabrera Guerra, president of CAGG
Stigma is also an issue in Latin America thanks to the prevalence of the Catholic Church, making Khiron’s outreach program, in conjunction with a respected medical non-profit, even more important for targeting this demographic.
Khiron quick hits
- Khiron medical product pipeline focused on priority conditions associated with aging, including chronic pain management
- Khiron neurologist Paula Martinez to present keynote to more than 1,500 health professionals at Association congress in Cali, Colombia
- Endorsement will advance Company strategy to meet the priority needs of over 68 million potential medical and compassionate care patients in Latin America
An aging continent
“Latin America, while still comparatively young, is aging fast,” according research by the International Monetary Fund (IMF), which says policymakers will need to ensure adequate benefits for its aging population as time goes on.
The combination of fewer children and older adults is putting an end to the demographic dividend that Latin America has been enjoying since the 1970s—that is the period during which the population aged between 15 and 64 grows faster than the population younger than 15 and older than 64. Its end implies there are fewer active people to support a growing number of dependents.
Paraguay, Bolivia, and Guatemala still have young populations and may benefit from “the dividend” until 2045, but Uruguay, Brazil, and Colombia have “only a couple of years of dividend left,” according to the IMF, and Chile and Costa Rica have no more dividend to work with.
Decreasing birthrates and longer lives mean Latin Americans are moving towards Japan’s demographics rather than China’s. Currently, Japan is facing a crisis as more of its aging population begins to suffer from Alzheimer’s, an issue made worse by fewer and fewer young people around to take care of them.
LatAm isn’t there yet, but seniors (those over 65) are more likely to suffer from multimorbidity, that’s two or more concurrent chronic illnesses.
Khiron has gone the Moneyball route. Instead of being a run-of-the-mill grower, they first targeted women with their CBD-infused beauty creams. Now, they’re targeting seniors as birth rates start to slow. It’s a demographic begging to be addressed.
These folks know what’s up. Chris Parry, equity.guru’s founder, has been pitching this idea at clients and non-clients alike for ages.
Figures it would be Khiron to make the first move.
Full disclosure: Khiron Life Sciences is an equity.guru marketing client.