Medical Marijuana, Inc. Launches Pharma Subsidiary in Brazil; Expands Access to CBD Products in Pharmacies
SAN DIEGO, CA, May 26, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), 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 it has launched its first pharmaceutical subsidiary, HM Pharma, in Brazil.
“We have been working hard to connect and build meaningful relationships with medical professionals and consumers in Brazil. This new sales channel will open new avenues for continued growth by bringing our cannabidiol (CBD) products to pharmacies throughout the country,” said Matheus Patelli, Managing Director of HM Pharma. “Not only will our products be more affordable than other CBD products sold at drugstores in Brazil, but they will be of the highest quality.”
In Brazil, CBD is currently permitted only for medical use with authorization from the country’s National Sanitary Surveillance Agency (Anvisa). HM Pharma will operate under Anvisa Normative 327/2019 which allows the company to sell its products in pharmacies. Customers will soon have the choice to purchase HM Pharma in a pharmacy at the point of sale with a doctor’s prescription or continue to order from HempMeds® Brasil using Brazil’s Compassionate Use law. The company expects that HM Pharma products will be on pharmacy shelves by the end of 2022.
Medical Marijuana, Inc. subsidiary HempMeds® Brasil was the first company to legally import products to Brazil in 2015 utilizing Brazil’s Compassionate Use laws. The compassionate use market in Brazil is thriving and it will continue to coexist with the medical market. HempMeds® Brasil, which is currently growing at 75.8% faster than the overall Brazilian CBD market and is one of the largest players in Brazil’s cannabis industry, will continue to operate under the compassionate use model, while HM Pharma will operate under Anvisa Normative 327/2019.
“HempMeds Brazil has imported over 150 thousand prescription products to Brazil through the compassionate model since 2015, and we continue to grow at an average rate of 50% yearly. Our market leadership reflects the quality of our products, customer care and doctor relationships,” added Patelli.
“Brazil has led the way with respect to Medical Marijuana, Inc.’s Latin American expansion. We are confident that this will continue with our entrance into the pharmaceutical space,” said Medical Marijuana, Inc. CEO Blake Schroeder. “HM Pharma has great potential to add significant value for our shareholders and will enable greater free access to cannabis-based medicine to consumers in Brazil than ever before”.
About Medical Marijuana, Inc.
We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Neuropathix. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. The company’s flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.
Medical Marijuana, Inc.’s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.’s corporate video, click here.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.