The Latin American medical cannabis company, Khiron Life Sciences, is looking forward to new options for the cannabis-based products and studying the possibilities to start marketing medical cannabis with high concentrations THC in Colombia. Also, the cannabis firm is exploring the possible expansion of its business to Uruguay, a country where cannabis is fully legal.
When talking about oils or medical treatments the focus is almost always on cannabidiol (CBD). In fact, it’s the cannabinoid that moves the most money around the world, and that leaves the psychoactive components as an afterthought.
However, the most famous of these psychoactive components, tetrahydrocannabinol (THC), can’t be ignored. That’s why Khiron, the Canadian giant born in 2012, wants to go further and sell medical cannabis with a high THC concentration.
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Khiron was given green light to sell medical cannabis with THC
Khiron Life Sciences will be able to sell medical cannabis with a high concentration of tetrahydrocannabinol (THC), after receiving the first quotas for cultivation and extraction of 9.3 tons, the company reported.
The National Narcotics Fund (FNE) authorized Khiron Life Sciences to market high-molecular THC (tetrahydrocannabinol) cannabis master formulas. THC is indicated in the treatment of medical conditions such as chronic pain, nausea, and vomiting associated with chemotherapy.
With this authorization, Khiron becomes the first company with permits to manufacture and modify medical cannabis with high THC concentration, subject to medical prescription in Colombia.
Medical cannabis THC formulas are already available
“This result demonstrates our ability and commitment to regulatory compliance, which today allows us to offer a new alternative to improve the quality of life of patients through our network of clinics, infrastructure and continuing education initiatives,” Khiron’s Vice President of Regulatory Affairs, Juan Diego Alvarez said.
The formulas are already being prescribed by professionals from the ILANS (Latin American Institute of Neurology and the Nervous System) Clinic Network.
At the beginning of the year, Khiron received authorization from the Ministry of Justice for the cultivation of 9.3 tons of cannabis high in THC.
In recent days, the company announced an agreement for the sale and distribution of medical cannabis master formulas with Locatel, one of the most important pharmacy and medical equipment chains in Colombia, reaching 2 million people.
THC medical cannabis will help treat many illnesses
According to the statistics, the pathologies that would be treated with cannabis are epilepsy, Parkinson’s, chronic pain, and anxiety. Furthermore, there is a potential of almost six million patients in Colombia who could benefit from these drugs.
The alliance with Locatel increases the number of people who can access the drug thanks to the facilities offered by the chain.
Currently, medical specialists from the network of clinics of the Latin American Institute of Neurology and the Nervous System (Ilans), which has the required dispensation permits, are already prescribing the high THC master formulas for the treatment of conditions such as chronic pain and nausea associated with chemotherapy.
It should be recalled that earlier this year Khiron had received from the Colombian Ministry of Justice the first quotas for the cultivation and extraction of 9.3 tons of high THC cannabis, representing 17 percent of the total quotas allocated by the International Narcotics Control Board (INCB) for Colombia in 2020.
Khiron looking to expand their business to Uruguay
Khiron also has business in Uruguay, the first country in the world to legalize cannabis in all its forms.
In September last year, the firm announced the construction of a 9,800 square meter plant in Juan Lacaze, Colonia department (southwest).
The project could fall back into stagnation because of the pandemic.
In order to develop in Uruguay, Khiron initially joined the local company Cannapur, but in April 2019, the company paid out $13 million to acquire 100% of the shares of the joint venture.
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