Omni Health, Inc. (OTC:OMHE) is in the process of creating a new drug candidate, in the hopes of garnering interest from Big Pharma.

Omni Health has begun to reformulate its most successful proprietary formulas to include cannabidiol (CBD). It is also registering its topical pain analgesic with FDA Medical Devices.

The goal of the company is to transform the treatment of chronic pain and other debilitating conditions through cannabinoid biotherapeutics. It wants to bring a product to the market that will be high in demand, but also reimbursable by the government and major insurance plans.

“By employing an FDA regulations-savvy, ‘fast-track’ pipeline strategy, Omni Health will quickly be in a position to partner our new drug for late-phase development,” said Omni Health’s CEO, Andrey Soloviev. “Our projections set this target date at roughly three years out. It will be a strong competitor in a lucrative medicinal niche populated by a limited number of pain management products at exponentially higher valuations. Peer analysis shows these valuations to be in the range of $100 Million to $140 Million.”

Omni Health is also almost finished developing several non-prescription CBD analgesic creams and ointments with fast absorption properties, that will be able to be rapidly put out to the market.

“The Global Market for Pain Management will grow from nearly $36.1 Billion in 2017 to $52.0 Billion by 2022 and the Cannabidiol (CBD) market is estimated to grow by 700% by 2020”, said Andrey Soloviev. “As such, there is a unique potential for Omni Health to truly seize the day by bringing the first FDA registered CBD pain analgesic to the market.”

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