New Products Offer 3,000mg to 6,000mg, Will Come in Jars of 30 and 60mL, Presenting Significant Cost Savings to Rapidly Growing Brazil Market
SAN DIEGO, CA - (NewMediaWire) - January 24, 2023 - 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 its subsidiary HempMeds® Brasil launched two new full spectrum products in Brazil. The two products represent the most competitively priced products available in the region, creating greater market opportunity for the subsidiary.
HempMeds® Brasil and Medical Marijuana, Inc. were the first companies to receive historic, first-ever permits to import hemp-based cannabidiol (CBD) oil after a Brazilian family successfully sued the equivalent of Brazil’s FDA, the Brazilian Health Surveillance Industry (ANVISA), for the right to access CBD oil for a child with CDKL5 epilepsy. Since then HempMeds Brasil has experienced consistent growth in reaching new patients through its relationships with various medical associations as well as its direct-to-consumer business. CBD products sold in Brazil require a prescription from a doctor and once obtained HempMeds Brazil assists Patients to obtain the prescribed product. The Company has long been in the process to garner the necessary approvals to distribute its products through pharmacies as well.
“Brasil has become one of the largest and most established CBD markets in the world with a regulated system involving doctors, pharmacies, and the state sponsored insurance program - and we at HempMeds have been an integral part of building that since the beginning,” said HempMeds® Brasil Executive Director Matheus Patelli. “We have truly become a leader in the global hemp CBD space since these recent events, and we are proud to share that we have grown 50% year over year since establishing operations in 2014, having imported more than 140,000 safe, high-quality cannabis products safely into Brasil. We believe in free access to CBD for all Brazilian citizens.”
The two new full spectrum concentrations from HempMeds® Brasil will offer 3,000mg to 6,000mg and come in jars of 30 and 60 mL. This opportunity and pricing model presents significant cost savings to the rapidly growing Brazil market.
Patelli added: “With positive new developments, CBD products are now sold on the shelves of pharmacies under a special drug designation that clarifies that hemp-based CBD is a health and wellness product and not a pharmaceutical drug. The future in Brazil is bright, and our entire team could not be more thrilled that helping others is such an important part of this work.”
“The growth and leadership of the Brazilian cannabis market is a major part of our company’s story, and these two new full spectrum products represent a very robust plan for growth that we are executing upon every day,” said Medical Marijuana, Inc. CEO Blake Schroeder. “There is a lot of exciting news to come in cannabis in 2023, but the Brazil market has always stood out as one that started from helping a family in need. We remain committed to being a cannabis industry leader, and to driving positive global change as we do so.”
To learn more about HempMeds® Brasil, please visit www.hempmeds.com.br.
About HempMeds® Brasil
HempMeds® Brasil was the first company to receive approval from the National Sanitary Surveillance Agency (Anvisa) to import a product based on cannabidiol, a substance derived from hemp, a plant of the genus Cannabis. Currently, it is authorized to supply its products, which help in the control of diseases such as epilepsy, Parkinson's, chronic pain and multiple sclerosis, under medical prescription. For these indications, the products can be subsidized by the Brazilian government. HempMeds® Brasil is working on additional approvals for other indications. www.hempmeds.com.br.
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.
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