Business
Scilex Holding Announces Issuance of Halal Certification for its ZTlido® product by Circle H International, Inc.
The certification has the potential to open access to Islamic markets globally, expanding potential markets for Scilex’s innovative FDA approved non-opioid
About this update from Scilex Holding Company
[{"type":"text","content":"The certification has the potential to open access to Islamic markets globally, expanding potential markets for Scilex’s innovative FDA approved non-opioid therapies and pipeline candidate products.The certification is an important prerequisite for health care and covers health and wellness as well as non-addictive pain management products.Announcement advances the global expansion strategy for Scilex with plans for growing its presence in the Middle East and North Africa region with an initial focus on the UAE and Saudi Arabia. PALO ALTO, Calif., March 15, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that it received Halal Certification of its commercial product ZTlido, indicating that ZTlido has undergone rigorous assessment to determine that it is permissible or acceptable in accordance with Islamic standards. The Halal certification was issued under the authority of Circle H International, Inc. (“Circle H”) and offers the Company the opportunity to provide ZTlido to Islamic markets globally. This announcement supports the global expansion strategy for Scilex, which Scilex anticipates will include a presence in the Middle East and North Africa (MENA) region with an initial priority focus on the UAE and Saudi Arabia. “Obtaining the broadly inclusive Halal Certification is a critical and important milestone in Scilex’s plan to expand to potential Islamic markets for our innovative non-opioid non-addictive pain management therapeutic pipeline candidates and FDA approved products. With the global Muslim population representing over 25% of the world’s population, according to Statista, this certification facilitates our ability to grow and expand in international markets,\" said Jaisim Shah, Chief Executive Officer and President of Scilex. Circle H issued the Halal Certification based on the global standards promulgated by its esteemed Circle H Sharia Advisory Council (the “Council”). Circle H and the Council are recognized and supported by prominent governmental and non-governmental organizations and Islamic universities. Religious leaders drawn from these prominent institutions sit on or advise Circl...