Ever since the Brazilian government approved the use of medicinal cannabis in 2019, the medical cannabis industry in the country has boomed. Analysts have predicted the industry to be worth over $229 million by 2028.
To this effect, on April 7th, 2021 The Brazilian government set a lot of effects in motion by approving the first pharmaceutical company that would.be responsible for rolling out cannabis-based medications.
This news, though expected in some ways, managed to shake the Brazilian cannabis industry.
The government through the Agência Nacional de Vigilância Sanitária ‘ANVISA’ (the health regulatory agency of the country) issued the Brazilian branch of the acclaimed pharmaceutical group called Ease Labs with a pharma-grade (GMP) certificate.
This not only permits Ease Labs to produce cannabis products, but this certification also places Ease Labs at the forefront of the medical cannabis industry in Brazil. The industry is indirectly Ease Labs’ to control for the near future.
Ease Labs is the official forerunner in the cannabis industry. As it is the first and only pharmaceutical company that is authorized to produce Cannabidiol products on Brazilian soil. The company would be permitted to develop a product, manufacture it on a large scale, store, import, and also export these CBD products within Brazil and the major South American Markets.
Before getting certified by the health regulatory agency in Brazil, Ease labs manufactured most of its products in the United States of America and also in Europe.
These products were then distributed and imported into Brazil and its neighboring countries by the Uruguayan branch of the company. The downside to this import was that the products all came at a higher price.
The ANVISA’s import permit all came through an acquisition with Belo Horizonte. The company is already setting up production in a region of the country to focus first on the domestic cannabis industry in Brazil. That is the product will be stocked by local pharmacies and dispensaries within the country. Exportation plans for these products are also in the works.
Ease labs have decided to set up shop in the capital of Minas Gerais. The site being used was previously used by a Brazilian herbal company to produce medicines. This company made use of the site for almost 35 years before evacuating the premises around 2019.
Throughout the lockdown period of 2020, a series of improvements and expansion procedures were carried out on this site to meet all the required standards of a pharmaceutical company.
Reviews, as well as safety and quality tests, were also carried out by the appropriate agencies.
Now, With a square meter of 1950, as well as a quality control laboratory and an R&D laboratory, the plant can conveniently meet the demand for medicinal marijuana products across the country.
The CEO of Ease Labs, Gustavo Palhares in a statement indicated that the company is now fully prepared for operations to begin at the end of the first semester.
The CEO has explained how beneficial the GMP permit is. In his words, he described it as a victory for the cannabis industry in brazil as a whole. He also stated that in no time patients across the country would be able to purchase more affordable CBD products without a doubt in the product’s quality.
With the site producing over 3,600 products per hour, there will be an adequate supply, hence the cost will significantly reduce. Unlike when products have to be imported with large amounts of dollars from Europe and the US. The lab could have extraction machines, a pre roll machine, and a variety of technology ot automate some of the more mundane processes.
Mr. Gustavo Palhares also assured all the consumers of medicinal marijuana products of the company’s strict adherence to the Good Manufacturing Practices laid down by ANVISA.
He further explained that all their suppliers undergo comprehensive technicalities alongside regulatory qualifications to ascertain that all imported products meet the required quality parameters for GMP.
The group looks to have an average production of not less than 6 million drugs annually.
The CEO mentioned in an interview that the group is working on a diversified portfolio. The products to be developed will vary in their uses and in the ailments they treat. The products will initially be developed around the diseases and symptoms that are rampant in the country.
Sooner rather than later, the group has plans to include other medicinal products and food supplements of herbal origin. Raw inputs will be gotten from the unique bio diversified environments in Brazil. Especially the Amazonia area and the Cerrado Savanna region.
Most importantly in the nearest future, the cost of supplies and production materials will be efficiently lowered. The supply chain will also be linked with the company’s allies within and around Brazil.
Times are changing, while legalization of marijuana is still a delicate issue on the continent, some countries are already adopting its use for medical reasons. Some of these countries include Ecuador, Peru, Argentina, and Chile.
Uruguay has gone a step further by legalizing marijuana for recreational use. This is why the first Ease Labs office was situated here.
By 2024, the cannabis market in Latin America should be worth at least 9 billion dollars. Revenues from the medicinal cannabis industry would play a part in this valuation.
The Brazilian cannabis industry is relatively untouched, due to government regulations. This is why Ease Labs should be commended for overcoming the regulatory barriers and obtaining the ANISA permit.
Although the coveted ANISA permit needs to be renewed every three years, with all the Ease Labs groups have put in place, their certification will be renewed. Especially if their productions boost the Brazilian economy
Ease Labs is well on its way to making a huge ROI if everything goes to plan. The group would stand out both locally and internationally; as soon as its plans to increase production and export them from Brazil to other countries around the globe.