Canadian CBD company first to make moves in Brazil
Photo credit: Sergio Souza on Unsplash
On Friday (April 24), Vancouver-based cannabidiol (CBD) producer Brains Bioceutical Corp. announced it would be the first to partner with Brazil to capitalize on the country’s new cannabis regulations.
In December, Brazil approved a restricted legalization of the plant’s compounds for medical and research purposes, laden with conditions including a ban on flower, domestic cultivation, and the use of the word “medical”. Any consumption of the legal products must first be prescribed by a doctor and products containing tetrahydrocannabinol (THC) over 0.2 per cent will only be authorized for extreme medical cases, like for terminal patients receiving end-of-life care. The new laws, however, do open doors for import, research, and production of CBD-based pharmaceuticals, which is where Brains comes in.
Brains, a Canadian CBD producer for health and wellness products (including veterinarian applications), will be bringing in the country’s first registered medical cannabis product. In December, the company raised $30 million to expand global production. Brains has since secured a South American pharmaceutical partner with one of "the largest generic drug portfolios" in the country. The release did not include the name of the partner, only that it is responsible for producing over 11.5 billion therapeutic doses (an amount of a supplied drug considered effective for an average patient) per year throughout Brazil. Brains will export CBD from its subsidiary in the United Kingdom to its Brazilian partners, where it will be refined and distributed throughout the country’s new legal market channels.
“I'm very proud of this historic moment, wherein we have combined our strengths to create the first registered product under the new regime,” said the company’s former CEO, Rick Brar, who also cofounded Vancouver licensed producer Zenabis, in a press release. “The team of world-renowned scientists and executives at Brains, continue to achieve landmark milestones with a relentless pursuit of historic firsts in the CBD industry.”
In the release, Brains president Gurdeen Bains (yes, he’s really Bains of Brains), added the Vancouver company is one of the few suppliers of “natural, plant-based active pharmaceutical ingredient (API) available anywhere on the planet.”
Brazil’s legislative decision passed by ANVISA – the Brazilian Agência Nacional de Vigilância Sanitária, or National Sanitary Surveillance Agency – follows in the steps of similar medical-focused cannabis programs being developed in European countries like Denmark and Ireland.
The supply deal suggests an important step in expanding legal CBD sales throughout the rest of South America.
This article is available under a Canadian Creative Commons licence.