Rafarma Enters Negotiations With Leading Global Producer of Precious Metals to Localize Production of Platinum-Based Cancer Drugs

Rhea-AI Summary

Rafarma Pharmaceuticals (OTC: RAFA) is collaborating with Krastsvetmet, a leading producer of precious metals in Russia, to develop a project focused on platinum-based chemotherapy drugs. This partnership aims for a production capacity of up to one ton annually. Experts predict a 6.3% increase in platinum use in the medical sector this year, driven by the rising prevalence of chronic diseases and an aging population. Although the collaboration requires significant capital investment, it is expected to yield substantial returns, aligning with market growth trends.

Positive

• Potential production capacity of up to one ton per year for platinum-based chemotherapy drugs.
• Market demand for platinum in pharmaceuticals expected to rise by 6.3% in 2021 due to chronic disease prevalence.

Negative

• The collaboration demands significant capital expenditure, posing financial risks.

Nicosia, Cyprus, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals, Inc. OTC:(RAFA) and one of the world's largest producers of precious metals, Krastsvetmet (Russia, Krasnoyarsk), discussed implementing a joint project to produce the most popular platinum-based chemotherapy drugs. If successful, the capacity of the production line for potent, highly active, platinum-based pharmaceuticals will be up to one ton per year with the possibility of increasing and expanding the list of drugs.

This proposed cooperation has a high chance of success. According to experts, the use of platinum in the medical sector in 2021 will grow to 240 thousand ounces (+ 6.3% compared to the same period last year) with a forecast of a steady annual increase in the future. This upward market trend is aligning with the growing prevalence of chronic diseases, including cancer and cardiovascular disease, which is due to a continuing change in demographics (the elderly population is rapidly increasing), unhealthy lifestyles and air pollution in many regions. Our potential partner is the largest industrial enterprise in the country and one of the leaders in the world. It processes all types of mineral and secondary raw materials from gold, silver, platinum, palladium and other precious metals,

The joint production process will be a large capital expenditure but we are confident the partnership will come together and be well worth the cost.

Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For more information contact:
RAFARMA
(307) 429-2029

FAQ

What is Rafarma Pharmaceuticals' plan with Krastsvetmet?

Rafarma Pharmaceuticals is planning a joint project with Krastsvetmet to produce platinum-based chemotherapy drugs, aiming for a production capacity of one ton per year.

How much is the expected increase in platinum use in the medical sector for 2021?

The use of platinum in the medical sector is forecasted to increase by 6.3% in 2021.

What potential challenges does Rafarma face with the Krastsvetmet partnership?

The partnership entails significant capital expenditures, which could pose financial risks for Rafarma Pharmaceuticals.