sábado, 5 de diciembre de 2020

The Latin América&Caribbean Cannabis Report

 


Pharmaceutical cannabis


• Formulated, processed, or synthetic cannabis sold as finished products, which have undergone full medical trials, and hold (in one or more geographical areas) a medical marketing authorisation* e.g. Cesamet®, Marinol®, Syndros®, Sativex®, Epidiolex® and any derived generic medicines; or

• Cannabinoid-based API (Active Pharmaceutical Ingredient), which is registered as an API in a medicinal product holding marketing authorisation* in one or more geographies, to be manipulated and/or compounded by a magistral pharmacy to produce a cannabinoid-based medicine.

Medical cannabis

• Cannabinoid-based medicine not holding marketing authorisation and therefore sold as an unlicensed medicine supplied through health systems and prescribed by a doctor; or 

• An API to be manipulated and/or compounded by a magistral pharmacy in order to prepare a cannabinoid-based medicine without marketing authorisation (unlicensed).

Medicinal cannabis

Term used to indicate all cannabinoid based therapeutic products (medical + pharmaceutical).


 

Latin America and the Caribbean (LAC) holds a special place in the minds and hopes of everyone that is involved in the cannabis sector around the planet, including the team here at Prohibition Partners

 The cannabis plant has featured in the history of the region since the colonial era when African slaves brought cannabis seeds to the continent. As usage spread to indigenous populations and production flourished across the continent, consumption of cannabis often became the subject of prohibition as a form of oppression against the unprivileged layers of society, to be followed by a war on drugs, which left scars across the region and has been questioned by many. However, cultivation and use have continued in LAC, leading to an amazing know-how with regards to the genetics and varieties of the cannabis plant in the region, which is helping to shape LAC’s potential in this sector today. 

Since Uruguay’s pioneering legalisation of cannabis in 2013, followed by Colombia in 2016, the LAC region has been at the centre of international interest due to its favourable climate, fertile soils, low labour costs and  large domestic population. A number of large operations have been set up, although commercial success has been limited due to tough regulatory requirements on both sides of the Atlantic as well as slower investment into emerging markets following the poor Q3 2019 results of large cannabis players in Canada. 

Nevertheless, the disruptive potential of the region both as a supplier and a consumer market is undeniable. Through leveraging LAC’s competitive advantages and the growing trends in telemedicine and last-mile delivery in an increasingly digitalised and urban society, the potential is exciting, particularly when taking into account the potential of hemp in sustainability and regeneration. We at Prohibition Partners are firmly committed to helping the local cannabis and hemp industry to develop and grow. For this reason, we have decided to establish an office in São Paulo, Brazil, where I am based, and from this city we will continue to strengthen our presence in the region and help local operators, investors and regulators succeed in this exciting sector with a promising future.

 Hector Gomes de Sousa LAC Analyst Prohibition Partners

 




 

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