what pharmaceutical company has the edge when it comes to marijuana
Colombia is the country to watch for its trail-blazing evolution of its medicinal cannabis manufacture. Its inexpensive production costs, ideal climate, progressive legal framework, and geographic location give Colombia a leading edge in the global marketplace.
With medicinal cannabis estimated to grow into USD$43 billion-dollar market by 2025, pharmaceutical companies are looking to Colombia to fill shortages of medicinal cannabis, and gear up for the projected cannabis smash.
Pharmaceutical interest in Colombian Cannabis – Searching for new solutions
The pharmaceutical industry is investigating the use of cannabis, or more specifically, components of the plant. These components are referred to as cannabinoids, specifically cannabidiol (CBD) and the more comm o nly known tetrahydrocannabinol (THC).
Studies and patient feel research into cannabis' potential uses is ongoing. In the meantime , countries around the globe are now altering their legislation in waves around the use of medical cannabis. This momentum is the reason behind the expected boom in the medicinal cannabis industry. Companies are therefore scrambling to get alee of an exponential demand increase – and Colombia offers the opportunity to exercise so.
A welcoming market for investors
Colombia formalized its cannabis industry in 2017. The government published v resolutions defining the rules for the production and processing of cannabis for medical and scientific purposes.
These resolutions established four licenses with which businesses can legally operate in the cultivation of cannabis or manufacture of cannabis products. These licenses permit:
- Tillage of Psychoactive Cannabis
- Cultivation of Not-Psychoactive Cannabis
- The employ of Cannabis Seeds
- The Manufacture of Cannabis Derivatives.
There are no additional barriers for foreign companies entering this sector, provided they obtain 1 (or more) of these 4 licenses.
The market in Republic of colombia is now well-positioned for growth and development, and pharmaceutical companies are moving quickly to invest.
Colombia is fast becoming a leader in the cannabis industry and wants to remain this way. The country's competitive advantage and commercial prestige are driving government responsiveness to strange investment. As such, Colombia continues to piece of work towards an open-market place economy past further enabling the exportation of medicinal cannabis.
Addressing the shortage of cannabis in Northern America
At that place is a well-known shortage in supply of cannabis in Northward American markets. Since its legalization in Canada in June 2018, Canadian companies and local suppliers alike are struggling to keep their shelves stocked with cannabis products. Early-adopters of these new commercial opportunities are receiving only a percentage of their orders from wholesalers. This is a result of a widely underestimated demand in the industry.
Majority of states in the US also implemented legislation permitting various forms of cannabis consumption. Several organizations such as the Marijuana Policy Project, National Organization for the Reform of Marijuana Laws (NORML) and National Cannabis Industry Association (NCIA) are lobbying for federal legalization of cannabis. As national support for federal police force reform grows, so does the possibility for a further rise in the need for cannabis.
Due to its significance to a number of industries, anxieties regarding cannabis shortages are amplified. Companies are therefore eager to establish sustainable cannabis supply bondage. Colombia's environment, location and new legal framework offer a dependable source of cannabis for North American markets.
Production costs are low
Though growing, Colombia's still-developing economic system means that price of labour remains competitive against other markets. Additionally, the licenses available for cannabis cultivation and manufacture are relatively inexpensive.
Low overheads give pharmaceutical companies the opportunity to lower the shelf price of desperately needed medicinal cannabis. Products will therefore be more accessible to users currently receiving blank-minimum prescriptions due to supply and toll constraints.
Advantageous growing conditions and consign potential
Republic of colombia's climate is hot yr-circular, making it an ideal location for consistent, reliable ingather. This ideal weather condition requires significantly less infrastructure to maintain optimum growing atmospheric condition, compared to some North American regions.
Colombia's geographical location likewise is advantageous for exportation. Straddling both the Atlantic and Pacific oceans, Colombia's Buenaventura and northern ports brand the land a regional hub for cannabis exports. Colombia'due south proximity to the Panama Culvert besides offers a shine and user-friendly connection to North American markets.
Transferable agronomical expertise
Colombia is one of the most bio-diverse countries on the planet, and equally such nourishes a stiff agricultural sector. With flowers as i of Republic of colombia's principal exports, agronomical experts in Colombia are easily accessible and highly knowledgeable on the lay of the state.
Much of the expertise held in Colombia's agronomical sector, particularly around the cultivation of flowers, is directly transferable into the cultivation of cannabis plant. This reassures foreign businesses that they are in rubber hands when choosing to invest in Colombia for cannabis product.
Colombia'southward irresolute image
For decades, Republic of colombia has battled an illegal drug trade. In legalizing the cannabis industry, Republic of colombia is changing global perspectives on its investment viability and prominence equally a regional economic power.
The Colombian government identifies strange investment as a major contributor to its stiff economic development. Republic of colombia's progressive legislative changes and government initiatives are fueling a steadily-strengthening economy. Colombia is now the third largest economic system in Latin America.
We can help y'all get started
The cannabis sector in Colombia is open for those international investors on the spotter for new opportunities. With the stable legal framework established and specific information available regarding the sector, Colombia is forecasted to get a cardinal exporter of cannabis extracts and derivatives into the foreseeable future.
If yous're looking to enter the cannabis marketplace in Republic of colombia merely aren't sure how to get started, we can help. At Biz Latin Hub, we want to ensure your success in entering the Latin American market of your choice.
Our team of local experts offers a range of legal and commercial dorsum-office services that are customized to each of our clients' needs.
Contact us today via email here for personalized support. We're set up when you are.
Learn more well-nigh our team and expert authors.
Come and come across usa at ExpoCannaBiz 2019
Biz Latin Hub's top cannabis industry experts will be attending ExpoCannaBiz's 2019 Business Conference from nine-11 May in Cartagena, Colombia.
Our Mining and Corporate Legal Counsel, Juan Sebastian Cardona, will speak at the Conference most their extensive experience in the evolving cannabis trade surround. Secure your place at the conference and connect with united states of america.
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Source: https://www.bizlatinhub.com/global-pharmaceutical-companies-interested-colombia-cannabis-industry/
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