Latin America Embraces Hemp-based CBD Oil
Ryan Allway
November 22nd, 2016
News, Top News
As slow as the United States might be in realizing the medical benefits of cannabidiol (CBD), companies like Medical Marijuana Inc. (OTC Pink: MJNA) have demonstrated they are on the forefront of research, production and distribution of legal cannabis products. Latin American countries have taken a much more progressive stance in endorsing such products and politicians worldwide are quickly realizing that legalizing marijuana could reduce crime and help patients suffering from a variety of conditions. With the global tide turning, this progression will create significant opportunities for companies operating in the burgeoning Latin American cannabis industry.
In this article, we will look at some of the recent cannabis reforms across Latin America and why Medical Marijuana Inc. is well positioned as a leader in the space.
Changing Tide of Legalization
Several Latin American countries have relaxed their laws surrounding cannabinoids, including non-psychoactive cannabidiol (“CBD”).
Mexico’s Supreme Court supported four plaintiffs seeking to legally grow and smoke their own marijuana in a November 2015 decision. Shortly after, Mexico City Mayor Miguel Angel Mancera introduced a bill that would allow patients to legally import medical marijuana. In February 2016 Mexico’s regulatory authority, COFEPRIS, approved the legal import of Real Scientific Hemp Oil-X™ for two young girls suffering from severe epilepsy and the program soon expanded to all qualifying citizens with refractory epilepsy.
Brazil has been a long-time opponent of cannabis legalization, but in April 2014, the country and its regulatory authority ANVISA legalized CBD for therapeutic uses. Currently, the government has approved the import of hemp-based CBD oils for epilepsy, Parkinson’s disease, and chronic pain, including migraine headaches. Patients with a doctor’s prescription and approved import documentation can legally purchase Real Scientific Hemp Oil™ products from HempMeds Brazil – an affiliate of Medical Marijuana Inc.
Chile approved a measure legalizing the cultivation and sale of medical marijuana last year. Since then, it has opened the largest medical marijuana farm in Latin America and passed legislation to authorize the cultivation and sale of medical marijuana to nearly 4,000 patients. Chilean President Michelle Bachelet also signed a measure to remove marijuana from a list of dangerous drugs and allow medical marijuana to be sold in pharmacies.
Medical Marijuana Inc. is on the Forefront
Medical Marijuana Inc. is well positioned within the market as the developer of Real Scientific Hemp Oil – or RSHO™ – which is billed as the finest, most consistent, and 100% natural hemp-based CBD oil in the world.
Many patients have already experienced success with RSHO™ in treating conditions like epilepsy. For example, Anny Fischer suffered from a rare form of genetic epilepsy called CDKL5, which caused more than 300 seizures per day. After reading Harper Howard’s story, the Brazilian child’s family petitioned the government to import RSHO™ CBD oil, which significantly reduced her seizures and enabled her to live a normal life again.
View a short movie about the Fischer family’s experience.
Over the past year, the company has generated more than $1.5 million in revenue from the sale of RSHO™ and other products. The rapid expansion of legalization measures across Latin America, as well as the expansion of included medical indications, opens the door to significant revenue growth over the coming quarters.
Medical Marijuana Inc. also provides shareholders with exposure to its other portfolio companies like HempMeds, Dixie Botanicals, Kannaway and CanChew Biotechnologies. Further, the company has invested into two upcoming early-stage biotech enterprises, including AXIM Biotechnologies (OTCQB: AXIM) where MJNA owns a 45% stake.
The company looks forward to leveraging this experience in the United States as cannabinoids become more widely accepted. While the FDA doesn’t allow specific medical claims to be made, researchers have demonstrated a wide variety of potential benefits for cannabinoids across conditions ranging from Alzheimer’s disease to certain types of cancers. The ongoing progress made by researchers could eventually make way for these kinds of claims to be made.
Looking Ahead
Medical Marijuana Inc. (OTC Pink: MJNA) is capitalizing on Latin America’s increasingly open support for cannabinoids. Colombia recently legalized medical cannabis and Uruguay is soon unveiling its recreational cannabis program for citizens. With its existing RSHO™ footprint, the company is reaching thousands of patients around the world with natural botanical hemp-based CBD products.
The company also provides investors with diversified exposure to other parts of the industry, such as AXIM Biotech’s focus on the clinical development of a cannabinoid chewing gum, as well as a new topical application of cannabinoids for atopic dermatitis and psoriasis.
For more information, visit the company’s website at www.medicalmarijuanainc.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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