Cannabis haven’t been legalized in Brazil yet, but the latest initiative of the government concerning Medical Marijuana Inc (OTCMKTS:MJNA)‘s new partnership tells a different story. According to reports, Medical Marijuana’s HempMeds Brasil’s RSHO product has been approved by the federal government of Brazil. It’s the first time when the government has given approval to a cannabis product for using it as a prescription for medical indication in Brazil.
Insights of Announcement:
HempMeds Brasil has decided to make available this product exclusively for Brazil’s drug market under temporary board approvals. As per the reports, availability of this drug will depend on the clinical trials that are conducted in the country. In today’s time, any person in the country with government-approved medical indication can get easy access to RSHO hemp oil products. Apart from these people, others who have government-approved import documentation and the prescription of any doctor can also get access to these products.
So far, the procedure to get hemp product for people who don’t fall in these three categories is very difficult, but things are likely to improve in the future. ANVISA has set forth a statement on the official website of the agency that comprises of a photo of a tube of HempMeds Brasil’s RSHO and explains the entire process to apply for an import certificate.
At present, any consumer with direct registration can own the product, but HempMeds Brasil is working on making this process a little difficult and formal. The agency wants to introduce formal drug application and submission procedure. As per the reports, the agency expects this procedure to be finished by the end of 2015.
The management of Medical Marijuana hopes that the market conditions in Brazil will continue to improve in the future; hence, there are a lot of opportunities for Medical Marijuana and its partnership in the country.