Khiron's Medical Cannabis Products Approved For Import Into Brazil

Khiron Life Sciences Corp. KHRNFKHRN announced Friday it has obtained authorization from the Brazilian Health Regulatory Agency for its products to be imported into Brazil on an individual patient basis.

With this authorization, the company can ask for a license to export the products from Colombia, Khiron said, noting that commercialization in Brazil is dependent on TSXV consent.

"Within our LatAm strategy receipt of this authorization from ANVISA represents another regulatory milestone in bringing our medical cannabis products to the largest patient market in Latin America,” Alvaro Torres, Khiron CEO said in a statement. “With a continued focus on the health and wellbeing of patients in the region, we continue to grow our network in Brazil as we also work towards pending authorizations in Colombia and Peru."

The Brazilian Health Regulatory Agency announced a framework explaining the necessary procedures for the production and import of medical cannabis products, and also declared a new class of medical cannabis-based products to be prescribed by physicians and sold via pharmacies.

Khiron said the medical cannabis market in Brazil is expected to reach 3.4 million patients and a market of $1.4 billion in the next three years.

Khiron closed Friday’s session 6.26% higher at 57 cents per share.

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