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.
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SOURCE: Rafarma Pharmaceuticals, Inc.