As the cannabis markets in Latin America keep expanding at a rapid pace, offering new treatment possibilities to patients, many companies around the world are looking for investment opportunities. Now, the Canadian cannabis company Canopy Growth has signed an agreement, after the approval by the DIGEMID, with Peru for the commercialization of one of its new products, Yellow Oil.
Spectrum Therapeutics, the medical division of Canopy Growth, a Canadian cannabis firm renowned worldwide thanks to the quality of its products, announced that DIGEMID approved the Health Registration of Yellow Oil 20 mg/ml Oral Solution for its commercialization in Peru.
This is the first finished natural medical cannabis product, produced by a private company, to be marketed in the Latin American country, which serves as a milestone and will help in the development of the Peruvian cannabis market.
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Canopy Growth bets on the Peruvian cannabis market for the commercialization of its products
Yellow Oil is the name of the cannabis oil, the first product of the company approved in Peru. The color yellow is part of what the company calls the color code – the Spectrum, where each color represents a category of products based on Tetrahydrocannabinol (THC) and Cannabidiol (CBD) content. Yellow represents Cannabidiol (CBD), which is the main cannabinoid found in this product.
The Canadian cannabis company is also moving forward with the registration of Spectrum Blue, which contains balanced amounts of THC and CBD, and Spectrum Red, a predominantly Tetrahydrocannabinol (THC) product. This color categorization was designed specifically to facilitate discussions between physicians and patients, providing a clear differentiation between available products.
“This approval is a major step towards patient access to high-quality cannabinoid-based pharmaceuticals across the country. It is also an opportunity for the development of the medical cannabis market in Peru, which could bring many benefits to the country, in which we are investing since our arrival, more than a year ago,” said Luis Larrabure, Physician and Sales and Marketing Director of Spectrum Therapeutics in Peru.
“This shows the quality of regulation in Peru and the work of activists and regulators to advance to this point where patients can purchase the product in pharmacies,” the Peruvian specialist added.
Canopy Growth offers high-quality products to its customers in Peru
The cannabis oils and soft capsules of Canopy Growth Spectrum Therapeutics Division have as their origin a certified and traceable production, according to the Sanitary Standards required worldwide. The products have Good Manufacturing Practices (GMP) certification of pharmaceutical grade and are subject to strict control from the genetics of the cannabis plants to consumption by the patient in need of this treatment.
Thanks to these controls, patients and physicians can be confident that Spectrum Therapeutics’ products are standardized, whether in Canada, Europe or Latin America, allowing for consistency of treatment.
The Canopy Growth Spectrum Therapeutics Division was founded in Canada and operates throughout Europe, Latin America, and Australia, currently serving more than 100,000 patients with high-quality cannabis-based products.
The company’s operations include the production and distribution of medical cannabis products, as well as education, training, and support for patients and health professionals and also pre-clinical and clinical research and development of cannabinoid-based drugs.
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First published in El Economista America, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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