Allan Oberman Appointed Chairman of Jay Pharma’s Board of Directors

April 04, 2019

Jay Pharma Inc., a company dedicated to developing innovative, evidence-based cannabinoid medicines to address unmet patient needs in cancer care, today announced the appointment of Allan Oberman as Chairman of Jay Pharma’s Board of Directors.

Mr. Oberman brings to Jay Pharma a wealth of experience in key areas, including international management, business strategy, operations, and capital markets. He has held senior leadership roles at major international pharmaceutical companies, including as CEO of Concordia International, CEO of Sagent Pharmaceuticals, and CEO of various subsidiaries of Teva Pharmaceuticals.

Allan Oberman

“I am honored to join Jay Pharma as we strive to advance the quality of care available to patients affected by cancer and requiring cancer treatment,” said Mr. Oberman. “Jay Pharma is well positioned to positively impact the lives of cancer patients through the development and commercialization of cannabinoid medicines that are supported by a clinical evidence-based approach and practice. I look forward to leading our Board of Directors and Executive Management as we further develop our growth strategy, gathering the support of key physician opinion leaders, in order to better satisfy the nascent demand among cancer patients and oncologists.”

According to a 2018 survey of 237 medical oncologists (Braun IM, J Clin Oncol, 2018), 80% of oncologists discuss medical cannabis with patients and nearly one-half recommend it clinically. Critically, only 30% of oncologists feel sufficiently informed to make recommendations regarding medical cannabis, suggesting a large unmet opportunity to educate oncologists and provide research that supports the safety of medical cannabis. A 2017 survey of cancer patients in Washington State (Pergam SA, Cancer, 2017) found that most patients had a strong interest in learning about medical cannabis during treatment and 74% wanted information from cancer care providers. Current users consumed cannabis primarily for physical symptoms such as pain and nausea or for psychological reasons such as coping with stress, depression, and sleep difficulty.

“Oncologists and treatment centers are struggling to provide high-quality information to patients. In addition, given the large variety of cannabis product currently on offer, oncologists struggle to assess the safety of products and the best product fit for various patient needs,” said Tzachi Cohen, founder of Tikun Olam Limited, a Jay Pharma partner and the leading Israeli purveyor of medical cannabis. “Mr. Oberman is a leader with impeccable credentials and a proven business track record that will serve Jay Pharma well as we enter our next phase of development. His proven ability to build value while communicating a clear and consistent vision will help Jay Pharma capitalize on what we believe are significant unmet market opportunities.”

About Allan Oberman

Mr. Oberman brings more than 18 years of C-suite international pharmaceutical industry experience to Jay Pharma. From 2016 to 2018, Mr. Oberman was CEO of Concordia International Corp. (renamed Advanz Pharmaceutical in December 2018), an international specialty pharmaceutical company which provided a number of pharmaceutical medicines for the treatment of cancer. From 2015 to 2016, Mr. Oberman was Chief Executive Officer of Sagent Pharmaceuticals Inc, a leading hospital and long-term clinic-focused specialty pharmaceutical company. Sagent Pharmaceuticals was sold to Nichi-Iko Pharmaceutical Co. Ltd., Japan’s largest generic drug manufacturer.

From 2012 to 2014, Mr. Oberman served as President and CEO of Teva Americas Generics, where he was responsible for a region that included the U.S., Canada, and Latin America. He joined Teva in 2000 and served as President of Teva EMIA (Eastern Europe, Middle East, Israel, and Africa), where he led a diverse group of countries in achieving consistent growth. Mr. Oberman also served as the Chief Operating Officer of Teva International, and President and CEO of Teva Canada, formerly known as Novopharm Limited.

Mr. Oberman serves on the Board of Directors of Dr. Reddy’s Laboratories (NYSE: RDY). He was Vice Chairman of the Association for Accessible Medicines, Chairman of the Canadian Generic Pharmaceutical Association, served on the Associate Board of the Canadian Association of Chain Drug Stores, and was a member of the Board of Directors of the Baycrest Centre Foundation, the Electronic Commerce Council, and the Food and Consumer Products Association of Canada. Mr. Oberman holds an MBA from the Schulich School of Business, York University, and a BA from the University of Western Ontario.

About Jay Pharma

Jay Pharma is dedicated to developing innovative, evidence-based medicines and combination therapies to address unmet needs in cancer care. Our mission is to improve the lives of patients suffering from cancer, initially by developing products for people dealing with the side effects of cancer and cancer treatments, and longer term by advancing a pipeline of novel combination therapies as an adjunct to standard of care cancer treatments.

Forward-Looking Statements

This press release contains certain “forward-looking statements”. Forward-looking statements are based on management’s estimates, assumptions, and projections, and are subject to uncertainties, many of which are beyond the control of Jay Pharma. Actual results may differ materially from those anticipated in any forward-looking statement. Factors that may cause such differences include the risks that potential products that appear promising to Jay Pharma cannot be shown to be efficacious or safe in subsequent preclinical or clinical trials, Jay Pharma will be not be able to obtain market adoption of its products, Jay Pharma will not obtain appropriate or necessary governmental approvals to market these or other potential products, Jay Pharma may not be able to obtain anticipated funding for its development projects or other needed funding, and Jay Pharma may not be able to secure or enforce adequate legal protection, including patent protection, for its products. All forward-looking statements included in this press release are made only as of the date of this press release, and Jay Pharma does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.

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