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Cannabis company Medical Marijuana, Inc. (OTC:MJNA) announced Tuesday that its subsidiary HempMeds Brasil launched two new full spectrum products in Brazil. The two products represent the most competitively priced products available in the region, creating greater market opportunity for the subsidiary.
HempMeds Brasil and Medical Marijuana were the first companies to receive historic permits to import hemp-based cannabidiol (CBD) oil after a Brazilian family successfully sued the equivalent of Brazil’s FDA, the Brazilian Health Surveillance Industry (ANVISA), for the right to access CBD oil for a child with CDKL5 epilepsy. Since then HempMeds Brasil has experienced consistent growth in reaching new patients through its relationships with various medical associations as well as its direct-to-consumer business. CBD products sold in Brazil require a prescription from a doctor and once obtained HempMeds Brazil assists Patients to obtain the prescribed product. The Company has long been in the process to garner the necessary approvals to distribute its products through pharmacies as well.
“Brasil has become one of the largest and most established CBD markets in the world with a regulated system involving doctors, pharmacies, and the state sponsored insurance program - and we at HempMeds have been an integral part of building that since the beginning,” stated HempMeds Brasil executive director Matheus Patelli. “We have truly become a leader in the global hemp CBD space since these recent events, and we are proud to share that we have grown 50% year over year since establishing operations in 2014, having imported more than 140,000 safe, high-quality cannabis products safely into Brasil. We believe in free access to CBD for all Brazilian citizens.”
The two new full spectrum concentrations from HempMeds Brasil will offer 3,000mg to 6,000mg and come in jars of 30 and 60 mL. This opportunity and pricing model presents significant cost savings to the rapidly growing Brazil market.
Photo: Courtesy of Esteban Lopez via Unsplash
Posted In: MJNA
