Medical Marijuana, Inc. (“the Company”) (OTC: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that subsidiary HempMeds® Brasil applauds ANVISA (the National Agency for Health Supervision) for unanimously approving the regulation of medical marijuana to be sold at pharmacies and drugstores nationwide
| SAN DIEGO, Dec. 5, 2019 /PRNewswire/ -- Medical Marijuana, Inc. (“the Company”) (OTC: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that subsidiary HempMeds® Brasil applauds ANVISA (the National Agency for Health Supervision) for unanimously approving the regulation of medical marijuana to be sold at pharmacies and drugstores nationwide. Brazil’s new regulations will be published soon on the Federal Official Gazette and entered into law 90 days after that. “These new regulations to allow the rollout of cannabis products in pharmacies and drugstores create a new category of medicinal cannabis products in Brazil,” said HempMeds® Brasil Vice President Caroline Heinz. “This change will allow patients almost immediate access to CBD products – a huge difference from today where the process takes three months. The approximate four million patients in Brazil can benefit from medical cannabis much easier with the ability to visit their doctor’s office and go directly to a pharmacy. We hope that this will encourage more people to see how cannabis could help improve their health and wellness.” Currently, patients in Brazil must request the importation of cannabidiol (CBD) products through the federal government website. The process involves attaching a report explaining the patient’s need, which must be signed off by their doctor, to a prescription liability statement. These new regulations will allow CBD and tetrahydrocannabinol (THC) products to be available at pharmacies and drugstores with a prescription and set guidelines for the manufacturing and importation of these products. The regulations also lay out the standards for commercialization, dispensing, supervision, and prescription of medical cannabis products. “According to reports by the Brightfield Group, Brazil’s CBD sales could total around $448 million by 2023,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We congratulate Anvisa and other health officials for helping us, the first Company to receive approval from the agency to import CBD into Brazil, expand access to this powerful compound and continue to participate in the country’s rapidly developing cannabis industry.” As the new regulations received approval, HempMeds Brasil® was featured in Folha de Sao Paulo and on the front page of several other Brazilian newspapers. HempMeds® Brasil sales bookings through the third quarter of 2019 surpassed sales bookings for the entire 2018 fiscal year and sales bookings for 2019 are on pace to grow more than 50% year over year compared to 2018. To learn more about HempMeds® Brasil, please visit https://hempmedsbr.com/. About HempMeds® Brasil About Medical Marijuana, Inc. To see Medical Marijuana, Inc.'s corporate video, click here. Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.'s shop. FORWARD-LOOKING DISCLAIMER FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE LEGAL DISCLOSURE CONTACT: Investor Relations Contact:
SOURCE Medical Marijuana, Inc. | ||
Company Codes: OTC-PINK:MJNA, OTC-QB:MJNA |
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