Announcement

GENERAL: PIL: Sales of Arthrem to Cease 02:50p.m. 
PIL  
14/02/2020 14:50  
GENERAL  
PRICE SENSITIVE  
REL: 1450 HRS Promisia Integrative Limited  
 
GENERAL: PIL: Sales of Arthrem to Cease  
 
14 February 2020  
 
PROMISIA INTEGRATIVE LIMITED - Arthrem Sales to Cease  
 
In July 2019 Medsafe made an application to the Classifications Committee to  
have Artemisia Annua (the key ingredient in Arthrem), in all its forms,  
classified as a prescription only medicine at any dose.  
 
Promisia, along with other companies that use Artemisia Annua, made  
submissions challenging the proposed reclassification and recommending that  
Artemisia Annua should remain a dietary supplement. The company is unaware  
of any other natural product being classified as a prescription medicine in  
New Zealand.  
 
The Classification Committee met in October 2019 and, to the surprise of the  
natural products sector, made a recommendation to the Minister of Health that  
Artemisia Annua was to be reclassified as a prescription only medicine.  
 
This recommendation was appealed by Promisia and a number of other companies.  
All appeals were rejected and the reclassification will come into effect on  
4 March 2020. The company is aware that at least one party is intending to  
apply for a judicial review of the decision process, the final decision and  
the recommendation to the Minister.  
 
Promisia notes that on 28 August 2019 it advised shareholders that it had  
made a significant impairment provision for its stock of Arthrem in its six  
month accounts to 30 June 2019. On 19 December 2019 the company advised that  
it is to seek shareholder approval to acquire three aged care facilities and  
cease operating in the natural products market.  
 
The final decision of the Medicines Classification Committee confirms that  
the decision to exit the natural products market was correct. This decision  
will have minimal impact on Promisia as most stock was written off as at 30  
June 2019 and the stock retained has been sold.  
 
Rene de Wit  
CEO  
021 571000  
End CA:00348430 For:PIL Type:GENERAL Time:2020-02-14 14:50:33  

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