Khiron Welcomes Legalisation of Medical Cannabis in Brazil
National health authority (ANVISA) approved the sale of medical cannabis products by prescription and through pharmacies
Khiron Life Sciences Corp., a vertically integrated cannabis leader with core operations in Latin America, welcomed the announcement from ANVISA, the National Agency for Health Surveillance of Brazil, establishing a legalised environment for the sale and consumption of cannabis for medical use. The new regulations will be published in the coming days on the Federal Official Gazette and enter into law 90 days after that.
In the announcement from ANVISA, a new class of medical cannabis-based products will be prescribed by doctors and sold through pharmacies, enabling patient safe and legal access. The regulatory framework sets a comprehensive procedure for the manufacture and import of these products as well as the requirements for commercialisation, prescription, dispensing, monitoring and supervision of cannabis products for medical purposes. The resolution was approved unanimously and is valid for an initial three-year term.
Andres Galofre, Khiron Co-founder and Vice President, Business Development, commented, “We congratulate legislators and the health authority in Brazil for their leadership in establishing a legalised environment for medical cannabis in the country. With a population of over 200 million this will directly benefit the health and wellbeing of a significant number of patients in Brazil and affirms our position as a LatAm leader in a rapidly globalising cannabis market.”
Khiron has a firmly established market-entry strategy for Brazil, with Dormul S.A., its wholly owned subsidiary based in Uruguay giving the Company access to the Brazilian market through the Mercosur Regional Trading Bloc. The Company has initiated pre-clinical medical cannabis studies with the Universidad de la República of Uruguay and Institut Pasteur de Montevideo, providing direct strategic opportunity for 3 million patients for medical cannabis in Uruguay, and a Brazilian market of 3.4 million (New Frontier Data). Further, on November 29th the Company announced it had received authorisation from the Colombian Technical Quotas Group (“TQG”) for the commercialisation of medical use High THC cannabis for domestic and export purposes, including to Brazil, with manufacture to begin in Q1 2020.
About Medical Cannabiz World:
In November 2019, Medical Cannabiz World opened its doors to the medicinal cannabis industry, supported by the Maltese government’s commitment to legislation for this high growth sector. Medical Cannabiz World summit 2020 will focus on the Malta medical cannabis industry as well as global opportunities in the sector, attracting investors, medical researchers, policy makers and entrepreneurs looking to forge exciting new opportunities.