Brazil Sees The First Local CBD Company Commence Operations
CBD Vida, a startup based in Campinas, São Paulo, Brazil has become the first company with administrative headquarters in Brazil to market cannabidiol-based drugs with direct import through prescription and medical report.
The Brazilian national market for CBD is expected to turnover $4.7 billion in the next three years, according to researchers from BDS Analytics and Arcview Market Research.
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Currently, 7,000 people are authorized by the Brazilian Health Regulatory Agency (ANVISA), an agency linked to the Ministry of Health, to import this type of medicine in Brazil.
For the company's CEO, Fabio Camata Candello, the moment is to invest in the Brazilian market.
"We are witnessing an expanding market and the business possibilities in CBD in Brazil are enormous. CBD Vida is a pioneer and we have a very important role in Brazilian society in providing high quality products," he said.
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