Novus Signs Partnership With PRAM, a Leading Pharmacy Consulting, and Underwriting Firm

Rhea-AI Summary

Novus Acquisition and Development Corp. (NDEV) has partnered with PRAM, a leading pharmacy consulting firm, to roll out cannabis health plans across the U.S. This collaboration aims to integrate cannabis benefits into health insurance as federal legalization approaches. PRAM's experience in drug benefits will enhance Novus's offerings, aligning with growing healthcare trends where more doctors may recommend medical cannabis. The initiative is positioned to reshape prescription drug insurance as cannabis becomes more accepted in workplaces and healthcare.

Positive

• Partnership with PRAM enhances distribution and marketing of cannabis health plans.
• Positions Novus to play a significant role in the growing acceptance of cannabis in healthcare.
• Expected increase in physician recommendations for medical cannabis which may reduce opioid prescriptions.

Negative

• Potential risks associated with changes in federal cannabis enforcement policies.
• Uncertainty about the future impact of federal regulations on the cannabis industry.

Proud to be Aligned with a Proprietary Prescription Drug Benefits Powerhouse As We Begin Our Roll Out To Their Distribution Base

MIAMI, FL / ACCESSWIRE / July 19, 2021 / Novus Acquisition and Development, Corp. (OTC PINK:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, LLC., is a hybrid health insurance entity and, the nation's first carrier offering cannabis health plans to recreational and medicinal users, is pleased to announce that it has finalized its partnership deal with PRAM to distribute, facilitate, and market the cannabis benefits package across the country.

PRAM, based in Brea, CA, is a leading pharmacy consulting and underwriting firm. The two companies working together will play a key role in the future of applying cannabis to American health plans as the United States approaches full federal legalization.

Novus is proud to have come to terms with PRAM and its 32+ years of experience as a proprietary prescription Drug Benefits Consulting and Managing General Underwriter company that provides pharmacy cost containment in the marketplace. Their primary focus is:

• Employer Groups: PRAM's client base of organizations that focus on pairing PRAM's pharmacy benefit programs alongside medical and ancillary products include distribution partners, consultants, brokers, agents, and insurance carriers across the country.
• Insurance Carriers + Pharmacy Benefit Managers (PBMs): PRAM designs cost savings pharmacy programs by coordinating insurance carriers and PBMs in an effort to help clients manage pharmacy risk. As a fundamental process, PRAM's focus is to create, underwrite, manage, and market prescription drug insurance programs. These plans are advantageously paired with limited medical, short-term medical, and GAP plans. The most beneficial element to these plans is that they are guaranteed issue and ready to take to market. PRAM has many other custom product offerings in the pharmacy space aimed at saving money and creating healthier populations.
• Plan Design Choices: PRAM intends to customize the Novus cannabis offering by tailoring formularies, copays, deductibles, specialty drug coverage, and specific drug inclusions or exclusions to best benefit the member experience.

Lisa Collier, CEO of PRAM, states: "Such innovation is at the core of PRAM's growth strategies and benefit design goals, so we are thrilled to be a part of a program that screams forward-thinking. National legalization is coming, and we'd rather be leading the dispensary network discount initiative than lagging behind it."

Frank Labrozzi, CEO of Novus, states: "It is of critical importance in business to foresee coming events. Our mission is to have the right alliance in preparation for that change. PRAM will provide that company partnership necessary for opening doors that once were challenges."

Alignment Competitive Advantages:

With the PRAM alliance, Novus is positioned to play a greater role in the future in the following areas:

• More doctors will recommend medical cannabis as participation in reducing opiate prescriptions.
• Take the stigma out of cannabis in the workplace with precedence set in the New Jersey Supreme Court, that ruled, under the New Jersey Law Against Discrimination ("LAD"), employees who legally use cannabis as permitted by the state's Compassionate Use of Cannabis of Medical Marijuana Act^[i] may not be fired.
• Ending prohibitions we could see a dramatic increase in our Provider Network where the big box and boutique retailers will likely sell pre-packaged cannabis in smokable and edible forms.

As Washington has to make up for a $6 Trillion dispersal of money in the past 18 months, there has never been a more critical time to legalize cannabis. More importantly, by ending prohibition of cannabis we will see med and rec users encouragingly help support our economy as they choose to have cannabis as a part of health insurance benefits.

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About PRAM

PRAM Insurance Services, Inc. was founded in 1989 by David P. Wilson. Dave has been in the insurance industry for over 40 years, and he has focused exclusively on prescription drug benefits since the beginning of PRAM when he identified a unique need for pharmacy cost containment in the marketplace.

For additional information on PRAM, please visit https://pram.com.

About Novus

Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has developed its infrastructure within many lines of the insurance business such as health, property & casualty, life, accident, and fixed annuities.

Novus' medical cannabis benefits package will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not intended to diagnose, treat, cure, or prevent disease. All information provided on these press releases or any information contained on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your physician or other health care professional. Once a push notification is completed the transaction is solely between the state-licensed dispensary and the registered patient.

The state laws are in conflict with the federal Controlled Substances Act. The current administration has effectively stated that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by state-designated laws, allowing the use and distribution of medical marijuana. However, there is no guarantee that the current administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly.

Any such change in the federal government's enforcement of current federal laws could cause significant financial changes to Novus Medical Group. While we do not intend to harvest, distribute or sell cannabis or cannabis-related products, we may be harmed by a change in enforcement by federal or state governments.

Forward-Looking Statements

This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Membership and providers may change, become inactive, or nonpaying from time to time. Novus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Contact Information
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Email: info@getnovusnow.com

SOURCE: Novus Acquisition and Development Corporation

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FAQ

What is the recent partnership announced by NDEV?

Novus Acquisition and Development Corp. has partnered with PRAM to distribute cannabis health plans nationwide.

What does the partnership between NDEV and PRAM aim to achieve?

The partnership aims to integrate cannabis benefits into healthcare plans as federal legalization advances.

How will the NDEV and PRAM partnership affect cannabis recommendations?

It is expected to increase physician recommendations for medical cannabis, reducing reliance on opioids.

What potential risks does NDEV face from the partnership with PRAM?

NDEV faces risks related to potential changes in federal enforcement of cannabis laws.

How does the NDEV partnership align with current healthcare trends?

The partnership aligns with trends towards more acceptance of cannabis in healthcare and workplace policies.