The Colombian cannabis sector keeps generating news and gathering the attention of new investors. It has been reported that the multinational cannabis firm, PharmaCielo, managed to secure a new set of licenses that will allow the company to cultivate cannabis with a high concentration of THC and further develop new cannabis-based products for both national and international customers.
PharmaCielo Colombia, the first cannabis company in the country with all the licenses necessary to both cultivate cannabis and produce cannabis-based products, obtained a new permission from the Colombian government for the commercial cultivation, production and export of high-THC content medical cannabis extracts, in compliance with existing sales agreements.
This is another great news for the Colombian cannabis market, as lately it has been gathering new investors and building a solid foundation for future expansion. Experts believe that there is a strong possibility for Colombia to become a key player in the Latin American cannabis sector.
According to a spokesperson for the cannabis multinational, the approval of this new permission granted by the Colombian Ministry of Justice and Health will allow the cannabis firm to begin the cultivation and processing of at least 10 tons of dominant Tetrahydrocannabinol (THC) cannabis. This new production will be on top of the current cultivation and production process, allowing to expand the company’s operations even more.
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The Colombian government gives it permission for PharmaCielo’s project
“This new government approval, granted by Colombian authorities, for PharmaCielo to grow, extract and export high Tetrahydrocannabinol (THC) content medicines is an important milestone for our firm that significantly expands our product portfolio and complements our medicinal cannabis oil and Cannabidiol (CBD) isolate offerings to our consumers,” said David Attard, president of the firm when talking about the new permission.
Colombian governmental authorities have been granting cultivation licenses all over the country and speed up their registration processes in order to boost the growth and expansion of the national cannabis sector. This move could help them compete with already established players, like Uruguay.
Attard also added that this Tetrahydrocannabinol (THC) quota, along with increased processing and extraction capacity of cannabis, gives them a high level of flexibility to meet their commitments to both international and national customers. In addition, it will allow the brand to expand globally and secure more future investments that will help the company to further develop its current cannabis operations.
Furthermore, this authorization given by the Colombian government will allow the company to produce and ship psychoactive cannabis extracts as part of the extract agreement announced in January of this year, for the German market, which is one of the most important in the world.
This new permission will allow PharmaCielo to further expand its operations
The president of the cannabis multinational, PharmaCielo, Henning von Koss, added in his declarations following the approval of this permission that: “The truly successful and medicinal use of cannabis on patients depends largely on the management of psychoactive and non-psychoactive properties of the plant. A broad product portfolio for our company is important, but even more important is the flexibility and the ability to convert the components of that portfolio into formulations quickly and on-demand.”
He said that as the company expands its cannabis portfolio this year, considering how difficult this year have been for the sector and international markets in general, they will work with the medical cannabis community to identify appropriate formulations and concentrations of cannabinoids and terpenes to meet a variety of regulatory drug needs in particular markets.
It is expected that in the coming years, Colombia will develop into one of the largest and more important cannabis markets in the region, with investment from many international companies. That will allow the country to get over the crisis and generate millions in revenue.
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First published in El Tiempo, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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